The subject of this article is consideration of modern blockchain solutions and their potential use in the context of digital asset protection. Various aspects of blockchain technology are explored, including consensus mechanisms, security levels, and functionality. The goal of the work is a systematic analysis and justification of the application of various blockchain solutions for the protection of digital assets. The article is aimed at determining the effectiveness and feasibility of using specific blockchain protocols and their functional elements to ensure the safety, reliability, and integrity of digital assets. The following tasks were solved in the article: consideration of modern blockchain technologies and consideration of their role in ensuring the security of digital assets. Conducting a detailed analysis of popular blockchain protocols, including Bitcoin, Ethereum, and Hyperledger Fabric, with a focus on their security against various types of cyber threats and attacks. The following methods are used: analysis of blockchain protocols, expert evaluations of the effectiveness of protection of digital assets, and study of the technical features of each solution. The following results were obtained: clearly defined advantages and disadvantages of each protocol were obtained, taking into account their applicability in the field of digital assets in various fields of application, such as semantic analysis of texts, E-Learning, Big Data, DDP-systems, finance, etc. In addition, the issue of network privacy in the context of information protection was investigated and justifies the choice of the optimal blockchain solution for a specific use. Conclusions: The article provides readers with an overview of how to effectively use blockchain to ensure the reliability and security of digital assets in a variety of usage scenarios. In today's digital world, where the value of digital assets is growing exponentially, protecting them from cyber threats becomes a critical task. Blockchain technologies, originally developed for cryptocurrencies, have gained recognition as an effective tool in the field of cyber security. The importance of standardization and regulation in the field of blockchain technologies to ensure their effective integration and compliance with the requirements of the law is put forward.
The integration of blockchain and smart contracts facilitates efficient and secure data exchange and value transfer. Nevertheless, the reliability of smart contracts has emerged as a critical concern. The vulnerabilities in contracts are intricately linked to their categories, emphasizing the significance of smart contract classification for enhancing code, user, and system security. Formal verification methods offer a robust means to validate the accuracy of contract classification and mitigate vulnerabilities. However, conventional machine learning approaches often lack precision and overlook the impact of account transaction behavior on classification during contract execution. This study introduces an Ethereum smart contract classification methodology based on statistical model detection. Through an examination of five smart contract types and ensuring the logical exclusivity of each, we delineate and formalize the internal logic of each contract type. We establish the contract automata network, devise conversion rules from contract source code to the automata network, and verify class properties using the statistical model detection tool UPPAAL-SMC. Lastly, we showcase the efficacy of our proposed methodology through a practical contract case.
A.M. Jumagaliyeva, A. D. Tulegulov, G.E. Murzabekova, Gulzhan Muratova
In the era of digitization, where information technology and business processes are closely intertwined, the development and implementation of blockchain-based smart contracts become key to achieving a new level of automation, security, and efficiency. This article deeply analyzed how blockchain smart contracts can enhance the execution of contractual obligations, making processes more transparent and efficient. The main aspect of study is the technical details of smart contracts and exploration of their practical application for optimizing business procedures, significantly reducing risks associated with fraud and the need for intermediaries. A practical demonstration of deploying a smart contract, executed in the Python programming language, is proposed as a method used in the article, highlighting the possibilities and challenges related to scalability and regulation. Results underscore a notable boost in operational efficiency and security, while also identifying barriers to broader technological adoption. Concluding, the significant role of smart contracts in evolving information systems is underlined, advocating for novel approaches to secure, autonomous contract fulfillment and emphasizing the importance of ongoing research to exploit their full capabilities in fortifying information security and operational efficacy.
M. M. Rakibul Hasan, Gazi Md. Shakil Hossain, Sadia Hossain Moure, Md Shepon Sardar
Information about every criminal case is kept in a very secret police case database system. During the course of an investigation and case resolution, criminal information is handled differently in each case. However, the traditional police case information management system is not extremely secure. Although every police station has a system for recording criminal history, the data transfer is still not transparent. Many police stations still run their operations with manual systems. Any unethical action might cause unfairness for the victims. As a result, we are offering a secure platform that combines the openness as well as adaptability of smart contract-based systems with the accuracy and secrecy of current police case schemes. We have created a smart contract on the blockchain's Go Ethereum platform using the Proof-of-Authority (PoA) consensus mechanism to verify the user and offer transparency for the security of criminal records and evidence. Our proposed solution runs on a distributed network for the best possible data security that adheres to the Web 3.0 model.
This research analyzes intellectual property law in relation to the transfer of economic rights from the author of the intellectual creation represented into the Non-Fungible Token (NFT) to the NFT buyer by a smart contract. The purpose of this research is to examine and comprehend the transfer of economic rights from the author of the intellectual creation represented into the NFT to the NFT buyer by a smart contract. This research approaches the topic from legal perspective, using the normative juridical method. This research will closely examine several relevant the provisions of laws and regulations to identify and analyze the legal issues involved in the transfer of economic rights from the author of the intellectual creation represented into the NFT to the NFT buyer by a smart contract. Research has shown that Article 16 Paragraph (2) of the Copyright Law can be applied to the transfer of economic rights of intellectual creation represented into the NFT by a smart contract, using the argumentum per analogiam method. This means that NFT buyer can enjoy the economic rights listed in Article 9 Paragraph (1) the Copyright Law.
Analyzing the complex cybersecurity landscape of Uzbekistan’s crypto exchanges, the article emphasizes the importance of developing and implementing cybersecurity policies and regulatory frameworks. The article identifies the most pressing and evolving digital threats and evaluates the effectiveness of advanced mitigation measures. Furthermore, it explores the transformative potential of innovative legal and technological tools, such as blockchain-based identity verification, zero-knowledge proofs, and secure multi-party computation. The article provides an in-depth analysis of the current legislation governing cybersecurity practices within Uzbekistan’s crypto ecosystem and offers insights into future development prospects. To provide a comprehensive analysis of the cybersecurity situation in the cryptocurrency exchange industry, an extensive review of academic publications, industry reports and official documents related to cybersecurity in the cryptocurrency market is used. In addition, the article includes case studies of known cybersecurity incidents related to cryptocurrency exchanges. By analyzing real-life examples, the researchers aim to provide a more detailed understanding of the cybersecurity challenges faced by cryptocurrency exchanges and the effectiveness of various mitigation measures. Ultimately, the article presents practical recommendations for creating a secure, trustworthy, and innovation-driven environment for cryptocurrency users in Uzbekistan.
работа посвящена анализу правового режима (правовой природы) криптовалюты, в том числе поиску ответа на общий вопрос о наличии либо отсутствии у криптовалюты признаков объекта гражданского права (объектоспособности). Автор анализирует основные взгляды на феномен криптовалюты с точки зрения права, в том числе приводит критический анализ позиции законодателя. По результатам работы автор, анализируя такие признаки криптовалюты, как выполнение ею функции денежного суррогата, отсутствие в отношении криптовалюты обязанного лица, а также существование криптовалюты в форме информации, приходит к выводу о том, что крипиптовалюта не является объектом гражданского права. В то же время автор не исключает целесообразность применения к отношениям, связанным с использованием криптовалюты, норм о неосновательном обогащении. the paper is devoted to the analysis of the legal regime (legal nature) of the cryptocurrency, including the search for an answer to the general question about the presence or absence of signs of the object of civil law (objectability) in the cryptocurrency. The author analyzes the main views on the cryptocurrency phenomenon from the point of view of law, including a critical analysis of the position of the legislator. According to the results of the work, the author, analyzing such signs of cryptocurrency as its fulfillment of the function of a monetary surrogate, the absence of an obligated person in relation to crypto currency, as well as the existence of cryptocurrency in the form of information, comes to the conclusion that crypto currency is not an object of civil law. At the same time, the author does not exclude the expediency of applying rules on non-innovative enrichment to relations related to the use of cryptocurrencies.
The term “smart contract” has become quite widespread. It is used not only in scientific literature, but also in normative acts and in practice when concluding contracts. However, there is no single approach to the definition of this concept. The purpose of the study is to highlight the main problems that exist in modern approaches to the definition of smart contracts. To achieve this goal, the article considers the main approaches to the interpretation of the term “smart contract”. This part of the article concludes that a smart contract involves the use of a digital document rather than an electronic document, whichhas now gained some momentum of development. Discussing what lies at the heart of a smart contract, the authors consider the correlation between the concepts of “electronic document” and “digital document”. Methods: in conducting the research the general scientific (analysis, synthesis, description), as well as interdisciplinary approach) and private-scientific methods of cognition, including the interdisciplinary one, and economic analyze of law were used. Results: the article presents a new approach to the consideration of the essential content of smart contracts. As the main conclusion it is necessary to point out the position that the smart-contract is based on the typification of contractual terms. In this connection the possible problems of registration of contractual relations in the form of smart-contracts are highlighted, namely: the need to develop model conditions of various contractual forms and their unification at the international level.
The article discusses the problems of classifying cryptocurrencies as property subject to confiscation in accordance with Chapter 15.1 of the Criminal Code of the Russian Federation. Despite the controversial nature of the possibility of foreclosure on cryptocurrencies, the amendments made to Article 104.1 of the Criminal Code by Federal Law No. 214-FZ of June 13th, 2023, expand the cases of confiscation in cases of crimes in the field of computer information (Chapter 28 of the Criminal Code), which, as a rule, involve the use of cryptocurrencies. The highest court in the new version of the Resolution of the Plenum of the Supreme Court of the Russian Federation dated June 14, 2018 No. 17 “On some issues related to the use of confiscation of property in criminal proceedings” dated 12.12.2023 provides a number of provisions that allow us to judge the expansion of the possibility of using the confiscation of cryptocurrencies. The emerging heterogeneous judicial practice allows for various options for the confiscation of cryptocurrencies, depending on the specifics of the electronic medium and various features of storing cryptocurrencies. The lack of both regulatory and technical support for the execution of the confiscation of cryptocurrencies makes it difficult to effectively confiscate cryptocurrencies and achieve the goals of criminal proceedings, which requires amendments to the current legislation of the criminal cycle.
Grievance redressal has always been vital for any organization to maintain a good work environment for its stakeholders. Some organizations follow online portals, websites, or mobile applications to register grievances to provide more privacy to the complainant’s identity. However, online platforms provide better solutions to the existing manual methods for grievance redressal. Still, there are a lot of issues and challenges associated with them. This research has comprehensively analyzed the existing grievance redressal systems to identify and discuss all the challenges. After comprehensive analysis, it is found that presently there are several issues such as delayed response, opaque processes, biases, complexity and accessibility issues, lack of personalization, and other privacy and security concerns associated with existing grievance redressal methods. To address all these issues this study is proposing a blockchain-based solution for grievance redressal systems. The proposed solution will be a blockchain-based web and mobile application that consists of multiple entities such as complainants, redressal committee, and higher authorities. This system will provide the necessary privacy and confidentiality to the complainants through the immutable distributed ledger technology and auditability of the entire process with complete transparency.
The digital revolution caused the emergence of the new means of the legal relations formalization. In particular, such means emerged in the field of contract law. These include smart contracts as an alternative to traditional contracts. The importance of smart contract research is inseparable from one of the main trajectories of modern civilization’s growth: digital information transfer. This paper addresses the issue of defining smart contracts’ legal status and legislative regulation. The study aims to clarify whether smart contracts can now serve as a full-fledged substitute for traditional contracts and what challenges this paradigm brings to the subject of contract law. The research considers the legal and technical aspects of smart contracts. Herewith, the main part of the study is devoted to the problems and prospects of institutionalizing the legal status of smart contracts at the level of national legal regulation. The paper uses the example of particular countries belonging to different legal systems (including the experience of the European Union, United States of America, and United Arab Emirates). Despite the smart contracts’ exceptional potential, the study indicates that the latter will not replace regular commercial, civil, and other contracts soon. Some issues are associated with the choice of law relevant to transnational smart contracts. There remain a number of issues for modern jurisprudence regarding the legal formalization of the smart contracts status, regulatory aspects, as well as issues of terminological unification. In general, the subject of smart contracts raises a more extensive research question regarding the potential replacement of traditional contract law with artificial intelligence. Contract law economists and attorneys will find this study helpful in their practices.
A ascensão da Internet e as novas tecnologias desenvolvidas nas últimas décadas têm transformado a vida em sociedade, digitalizando diversos processos e resultando na redução da distância física entre coisas e pessoas. O comércio internacional é uma das áreas que lida com essas transformações, sendo o Direito Internacional a esfera responsável por atualizar suas regras. Inserido nas tecnologias de registro distribuído e blockchain, a nova modalidade de contratos, chamada de smart contracts, surge como ferramenta revolucionária capaz de reorganizar a estrutura comercial internacional. Apesar de já serem utilizados com diversos intuitos na atualidade, esses contratos inteligentes ainda implicam em questões regulamentárias, pois envolvem toda uma estrutura interdisciplinar que precisa ser compreendida em profundidade. Nesse cenário, a presente pesquisa tem como objetivo geral desenvolver uma abordagem inovadora e eficaz para a otimização da escolha da lei aplicável aos smart contracts no comércio internacional. Como objetivos específicos, procurou-se registrar a evolução do comércio internacional e sua importância; discorrer sobre a ascensão da Internet e das novas tecnologias no comércio internacional; especificar as novas formas de comércio e diferenciar os contratos eletrônicos dos inteligentes; conceituar as tecnologias de registro distribuído e blockchain; enunciar os conceitos e aplicabilidade dos smart contracts; analisar se eles trazem segurança jurídica; definir a importância da harmonização e uniformização na escolha da lei aplicável aos smart contracts; detalhar as perspectivas do Instituto Internacional para a Unificação do Direito Privado - UNIDROIT e a Comissão das Nações Unidas para o Direito Comercial Internacional - UNCITRAL sobre o tema; para, por fim, oferecer critérios de indicação de lei aplicável. A pesquisa é exploratória e descritiva com abordagem qualitativa, a partir de levantamento bibliográfico e documental, de acordo com o método dedutivo. Conclui- se que a melhor forma de propiciar a escolha de lei aplicável aos smart contracts se dá através da sugestão do modelo de jurisdição em duas camadas voltado para os smart contracts, acoplando a vertente autônoma do código e a defesa da criação de um novo documento uniformizado.
Smart contracts are the new tool on the block used to govern contractual relationships between parties, both within a nation state and internationally. Smart contracts use blockchain technology that is changing the process of contract formation, governance and implementation. This chapter discusses how the jurisdictions compared are all various stages of regulating and dealing with smart contracts. The chapter also examines how smart contracts can apply to the Convention on the International Sale of Goods 1980 in a limited way. Finally, this chapter builds on Chapter 1 by identifying the issues that are emerging in relation to arbitration of smart contract disputes.
Lucas Massoni Sguerra, Pierre Jouvelot, Fabien Coelho, Emilio Jesús Gallego Arias · 5 authors
Smart contracts face a significant challenge regarding the data transparency inherent to the blockchain-based decentralized systems on which they run. This transparency can limit the potential applications and use cases of smart contracts, especially when privacy and confidentiality are paramount. Presently, blockchain applications that require a certain level of privacy will tend to rely on off-chain, centralized solutions. However, this approach introduces trade-offs, potentially compromising the trust and security provided by blockchain technology.In this article, we advocate for the integration of cryptographic tools into smart contracts, aiming to enhance privacy and address transparency concerns in applications. We introduce the notion of a Privacy Framework (PF) as the general building block that addresses privacy issues in smart contracts by linking privacy requirements and adequate implementations. Since auction are important applications that strongly rely on privacy for reaching their full potential, we adopt in this paper the auction known as Vickrey-Clarke-Groves (VCG) Auction for Sponsored Search as a use case to develop the notion of PFs. In practice, we provide three PF instances, of increasing complexity, to improve the privacy assurances of specific auction smart contracts. Our experimental assessment of these PF instances suggest they are efficient, not only in terms of privacy preservation, but also in gas and monetary cost, two crucial factors for the viability of smart contracts.
We use transaction cost economics (TCE) to define the “digitization of transaction terms” shift parameter that describes the institutional changes associated with increased digitization in society. We then draw on legal scholarship to analyze how strong smart contracts, which refer to agreements with automatic execution and enforcement that are not reversible by courts, rely on a new level of digitization of transaction terms. Specifically, these contracts may rely on standard digital infrastructures such as blockchain systems that guarantee automatic execution and non-reversibility. Strong smart contracts represent a distinct mode of transaction governance compared to markets, hierarchies, or hybrids. This is because each classic governance mode is distinguished by how ex post adaptation is handled—through public courts, managerial fiat, or both. In contrast, strong smart contracts prevent ex post adaptation altogether. We propose that when strong smart contracts can be fully specified, they may dominate other governance modes based on certain trade-offs. These trade-offs include weighing the benefits of avoiding the holdup problem and lowering contract enforcement costs against the downsides of high ex ante specification costs and the elimination of flexibility to make ex post adjustments in a changing environment. Our discussion elaborates on which institutional conditions can further facilitate this institutional shift.
스마트 계약이 갖는 기술적 편의성 및 신속성, 그리고 위·변조 방지 기능으로 인해 다양한 상거래 분야에서 넓은 활용성이 기대되고 있다. 그러나 아직 스마트 계약에 대한 명확한 법적 근거가 없고, 스마트 계약을 작성하는 알고리즘을 검증하는 평가시스템이 부재한 상황에서 거래 표준화 모델은 필수적이다.<br/> 본고에서는 스마트 계약 표준화 준칙을 정립하기에 앞서 필요한 몇 가지 사항을 검토하였는 바, 표준화 준칙은 일반적으로 스마트 계약의 기술, 제품, 서비스 등에 대한 품질, 안전, 성능 등을 위한 최소 기준을 충족시켜야 함을 알 수 있다. 현재 스마트 계약 표준화에 관한 국제사회 움직임은 국제기구를 중심으로 기술적 요구사항을 반영한 기준을 정립하고 있지만, 국내 스마트 계약 표준화 준칙을 정립하기 위해서는 프로그래밍 오류, 약한 합의 알고리즘, 익명성, 계약 내용의 수정 가능성에 관한 사전적 고려 요소를 충분히 반영하여야 할 것이다.<br/> 그러므로 본고는 스마트 계약의 기술 적합성과 유용성, 그리고 계약 표준화 정립을 위한 고려 요소를 살펴보고 스마트 계약 거래 표준을 정립하는데 어떠한 시사점을 주는 것인지에 대하여 검토하였다.
Esta monografía aborda inicialmente las problemáticas de implementar Smart Contracts en transacciones inmobiliarias, destacando obstáculos como las estructuras centralizadas. Se ofrece una visión general de los Smart Contracts, incluyendo su definición, configuración y su relación con la tecnología Blockchain, que proporciona transparencia y seguridad en las transacciones. Se examina el marco normativo internacional aplicable a los Smart Contracts en operaciones de compraventa de inmuebles, destacando la importancia del principio lex rei sitae y las convenciones de las Naciones Unidas. Los fundamentos jurídicos para la aplicación de Smart Contracts se basan en principios como la libertad contractual y la neutralidad tecnológica, así como en elementos de validez en el Civil Law como la capacidad, objeto y causa, y el consentimiento. Finalmente, se concluye que la implementación de Smart Contracts en transacciones inmobiliarias ofrece beneficios como eficiencia, seguridad y transparencia, siempre que se aborden los desafíos legales y técnicos de manera integral.
Takayuki Suzuki, Ken Naganuma, K. Fukuchi, Takatoshi Ohara
As transactions of monetary value on the public blockchain become more widespread, there is a growing demand that the transactions be verified as legitimate. As a result, it has become mandatory for crypto asset exchanges to perform identity verification. On the other hand, Bitcoin and other public blockchains are easy to start transactions with, and the anonymity of the transactions is a significant value for users. To achieve these conflicting requirements at a certain level, we developed a method to manage information generated from a user’s biometric information with smart contract and link transactions on the blockchain to real people. This mechanism makes it relatively easy for the user to claim their identity while the operator can control the degree of identity verification.
This chapter provides a comprehensive analysis of the evolving nature of property law in the digital era, especially with the advent of disruptive technologies like artificial intelligence, blockchain, and the Internet of Things. The authors discuss how these technologies challenge the traditional legal frameworks of property law, particularly in the context of digital assets like e-books, software, cryptocurrencies, domain names, non-fungible tokens (NFTs), and data. The chapter delves into the complex issue of data ownership and its classification as a property right, exploring various viewpoints ranging from considering data as a valuable commodity owned by its creators to viewing it as a public asset. It highlights the need for legal certainty in the application of property laws to digital assets and the importance of adapting these laws to address the challenges posed by technological advancements. The authors argue that while regulation imposes limitations on data ownership, they do not negate the possibility of owning data. They also explore the new Belgian property law's approach to data. In conclusion, the authors stress the need for legal scholars to respond collectively to the challenges posed by technological progress and emphasise that law must guide and anticipate technological change rather than merely reacting to it.
развитие цифровых технологий существенно трансформирует различные сферы экономики, в том числе и промышленное производство. Одним из перспективных направлений в данном контексте является внедрение смарт-контрактов, способных значительно оптимизировать бизнес-процессы. Цель данного исследования заключается в анализе потенциала смарт-контрактов в контексте модернизации промышленного производства. Методологическая база работы включает в себя системный подход, методы сравнительного анализа, синтеза и обобщения. Эмпирической основой исследования послужили статистические данные, отражающие динамику внедрения смарт-контрактов в различных отраслях промышленности, а также результаты экспертных интервью с представителями бизнес-сообщества. В ходе исследования выявлено, что использование смарт-контрактов способствует сокращению транзакционных издержек на 15-20%, ускорению процессов согласования условий сделок в 2-3 раза, а также минимизации рисков, связанных с человеческим фактором. Так, по данным компании Deloitte, внедрение смарт-контрактов в сфере логистики позволяет сократить время обработки документов на 80% и снизить затраты на 90%. При этом в машиностроении использование смарт-контрактов обеспечивает повышение эффективности управления цепочками поставок на 30-35%. the development of digital technologies is significantly transforming various sectors of the economy, including industrial production. One of the promising areas in this context is the introduction of smart contracts that can significantly optimize business processes. The purpose of this study is to analyze the potential of smart contracts in the context of modernization of industrial production. The methodological basis of the work includes a systematic approach, methods of comparative analysis, synthesis and generalization. The empirical basis of the study was statistical data reflecting the dynamics of the introduction of smart contracts in various industries, as well as the results of expert interviews with representatives of the business community. The study revealed that the use of smart contracts helps to reduce transaction costs by 15-20%, accelerate the processes of agreeing on terms of transactions by 2-3 times, as well as minimize the risks associated with the human factor. Thus, according to Deloitte, the introduction of smart contracts in the field of logistics can reduce document processing time by 80% and reduce costs by 90%. At the same time, in mechanical engineering, the use of smart contracts provides an increase in the efficiency of supply chain management by 30-35%.
Ngozi Samuel Uzougbo, Chinonso Gladys Ikegwu, Adefolake Olachi Adewusi
Enhancing consumer protection in cryptocurrency transactions presents a critical challenge due to the decentralized and often opaque nature of the cryptocurrency market. This abstract explores the legal frameworks and mechanisms aimed at safeguarding consumers engaging in cryptocurrency transactions, focusing on key issues, challenges, and recommendations for improvement. Consumer protection in cryptocurrency transactions is a pressing concern due to the prevalence of fraud, hacking, and market manipulation. The lack of regulatory oversight and the pseudonymous nature of transactions make it challenging for consumers to seek recourse in cases of fraud or misconduct. To address these challenges, legal frameworks have been developed at both national and international levels. At the national level, some countries have implemented consumer protection laws that apply to cryptocurrency transactions, such as requiring exchanges to comply with anti-money laundering (AML) and know-your-customer (KYC) regulations. However, the effectiveness of these laws is limited by the global nature of the cryptocurrency market and the difficulty in enforcing regulations across borders. Internationally, organizations like the Financial Action Task Force (FATF) have issued guidelines to combat money laundering and terrorist financing in the cryptocurrency sector. These guidelines recommend that countries implement AML and KYC measures for cryptocurrency exchanges and wallet providers. While these recommendations are a step in the right direction, implementation remains a challenge, particularly in countries with limited regulatory capacity or political will. To enhance consumer protection in cryptocurrency transactions, several recommendations can be considered. These include increased collaboration between regulators and industry stakeholders, the development of international standards for consumer protection in cryptocurrencies, and the establishment of a regulatory framework that balances innovation with investor protection. Additionally, consumer education and awareness campaigns can help individuals make informed decisions when engaging in cryptocurrency transactions. In conclusion, enhancing consumer protection in cryptocurrency transactions requires a multi-faceted approach that addresses regulatory gaps, promotes international cooperation, and empowers consumers through education and awareness. By implementing these recommendations, policymakers and industry stakeholders can work together to create a safer and more transparent cryptocurrency market.
Ethereum, a foundational blockchain platform enabling decentralized applications, has catalyzed the development of myriad applications through smart contracts. However, vulnerabilities within these contracts have precipitated notable financial losses, garnering keen interest from both industry and academia. While existing vulnerability detection research has progressed in addressing traditional challenges, it increasingly falls short of comprehensively securing smart contracts against evolving attack patterns and new vulnerabilities. Distinguishing itself from prior surveys, this review conducts an in-depth analysis of actual attack incidents, delving into the characteristics of recent vulnerabilities and thoroughly exploring the present research difficulties and challenges. The paper aims to offer a holistic view on smart contract security research, advance the depth of vulnerability detection technologies, and suggest directions for future inquiries.
M Govindaraj, Neethu Tressa, Muhammad Suraquatu, Likith Gowda M · 6 authors
Nowadays web 3.0 can be placed in several domain, such as supply chain management and crypto kitties, which are programs that run on decentralized network and rises vulnerabilities on the system. This paper provides a comprehensive analysis of smart contract vulnerability detection tools and the extent to which they address the spectrum of security threats inherent to Web 3.0. Our findings reveal that integrated tools exhibit superior performance in terms of vulnerability. The paper identifies critical challenges and propose future outlook that emphasizes the importance of collaborative research and the integration of machine learning approaches. We will then compare the existing tools based on their weaknesses coverage and efficiency of discovery. Finally, a case study of the CoGMIN project will be presented for determining and anticipating future research trends. Finally, this report provides recommendations for further research directions regarding the lack of cooperation between current smart contracts on security investigations.
The development of digital technologies permeates almost all areas of public relations. At the same time, certain areas remain more conservative, and legal regulation also lags behind the pace of general digitalization. This situation is especially clearly visible in the field of inheritance of digital assets. The subject of this article is to explore the opportunities and risks associated with inheriting NFTs. The purpose of the article is to determine algorithms for inheriting NFTs in the context of insufficient legal regulation of this procedure in the Russian Federation. The work uses methods of both empirical (analysis and synthesis, induction and deduction, systematization) and theoretical (methods of constructing and studying the object of study and methods of constructing and justifying theoretical knowledge) levels. When transferring a token, a unique record is transferred, and the previous owner of the NFT loses the token after it is transferred. This makes NFTs similar to material objects and necessitates separate legal regulation of the rights associated with NFTs. An NFT is inherited, not a digital object such as art. The main problem with inheriting NFTs is that these objects are intangible. They cannot be physically materialized, stored, for example, in a safe deposit box, or transferred physically. Therefore, if the owners do not have specific heirs, it will even be difficult to include NFT in the inheritance or find out about the token. Inheriting an NFT requires that the will name the NFT and include an explanation of where the NFT is held. The testator’s password must also be available. There may be problems associated with the compulsory share in the inheritance, related both to access and to the assessment and dynamically changing value of the NFT. Also, the valuation of the NFT will influence the amount of the state fee for issuing a certificate of inheritance. The practical implementation of NFT inheritance is facilitated by the development of appropriate digital technologies that optimize procedural aspects.