Event-Processing Model for Smart Contracts with Oracle and EEG

Abstract

In blockchain (BC) systems, smart contracts (SCs) often use a transaction-driven execution model. However, real-world financial applications are complex, and often driven by events instead. This paper presents an intelligent event-driven framework to automatically trigger SC execution by collecting event information, and classifying these events, and analyzing various relationship among these events, and use a service-model for SCs to register interested events so that when the concerned event happened, they can be automatically triggered. This paper uses oracle machines (OMs) to collect event information, EEG (Event Evolution Graph) to analyze relationship among events. This paper then uses multi-layer perceptron model to evaluate the design. This paper proposes a new method to solve the scalability and performance challenges in the SC ecosystem, which shows that the event-driven execution model would be more intelligent.