Viability of Smart Contracts for Large Scale Applications using Game Theory Concept

Abstract

Blockchain smart contracts show the next stage in the development of protocols that support the interaction of independent nodes without the presence of a governing authority. Blockchain smart contracts are believed to be a potentially enabling technology for a wealth of future applications. But turns out, like every other maturing technology, blockchain smart Contract also has it challenges and limitations. Understanding these challenges and limitation can help business making decision before they put their efforts in blockchain application development. In this paper game theory is combined to look into what Smart Contracts are and what they are assumed to be. The aim is to give businesses a clear idea about smart contracts and help them to decide if the contracts are viable for large scale application.