Recent research has introduced a decentralized autonomous organization (DAO) managing a house â No1s1 (no-ones-one). While the concept has been technically implemented, it remains open how to govern and maintain the house in a decentralized manner. In this study, we investigate how a DAO can govern and maintain physical assets. For this, we use a Design Science Research methodology coupled with a requirements-driven approach and demonstrate through an artifact how such a governance and maintenance system can be implemented. The proposed system features two tokens rewarding active interaction with the physical house leading to a local community. We evaluate the system with a scenario-based study with users showing how the community can govern and maintain the house. Thus, the paper contributes to a better understanding on how a DAO with physical assets can be governed and interact with these assets, and to the better understanding of blockchain governance in general.
Morena Barboni, Filippo Lampa, Andrea Morichetta, Andrea Polini ¡ 5 authors
Bugs in Solidity smart contracts caused millions of dollars in losses in the past year alone. Mutation testing can expose weaknesses in test suites that simpler coverage metrics often miss, but the effort required to generate test cases for live mutants remains a major barrier to adoption. To address this, we present Alchemist, a framework that generates test cases from Solidity mutants via LLMs. Alchemist incorporates the scientific method into its test generation process, enabling the systematic refinement of test cases through hypotheses. Evaluation on Solidity projects demonstrates that this method improves test quality over direct prompting while reducing developer effort.
ABSTRACT Smart contracts, integral to decentralized applications (dApps), depend heavily on the efficiency and scalability of underlying consensus mechanisms. This study evaluated the runtime scalability of two dominant protocolsâProofâofâWork (PoW) and ProofâofâStake (PoS). It proposes a novel hybrid consensus algorithm, ProofâofâActivityâandâDelegation (PoAD), to address performance and fairness limitations. PoAD combines validator activity scores, delegated stakes, and verifiable randomness into a composite eligibility function, with block finalization conducted via a PBFTâstyle mechanism. Experimental simulations were conducted across varying network sizes (10â60 nodes), where PoAD demonstrated significantly improved performance: execution time of 2.6 s at 50 nodes compared to 5.7 s for PoW and 4.3 s for PoS; transaction throughput reaching 125 tx/s; and finality latency reduced to 1.3 s, compared to 4.7 s in PoW. PoAD also maintained high proposer fairness (> 0.95), lower energy consumption (Ë45% less than PoW), and lower algorithmic complexity . These results were obtained using Pythonâbased simulations with controlled validator pools and standardized workloads. The findings suggest that PoAD offers a viable, scalable, and energyâefficient alternative to existing protocols, especially in latencyâsensitive and resourceâconstrained environments such as IoT and decentralized finance. Although promising, the effectiveness of PoAD under adversarial conditions and realâworld deployments remains to be validated. Future studies should explore resilience under Byzantine faults, adaptive parameter tuning, and integration with asynchronous BFT frameworks to enhance their trustworthiness and applicability.
Blockchain technology has reshaped digital finance, enabling decentralized applications (DApps) on platforms like Ethereum. However, these innovations have also facilitated fraudulent schemes such as Ponzi schemes, which deceive users with false promises of high returns. These schemes cause financial losses and weaken trust in blockchain systems. Existing detection methods face key challenges, including limited labeled data, over-reliance on transaction history, and failure to identify scams early. To address these issues, we propose a framework that combines static and dynamic features of smart contracts for early Ponzi detection. Our feature set includes opcode patterns, developer behavior, temporal trends, and metadata, crafted to work independently of transaction data. We enhance feature representation using TF-IDF, CountVectorizer, and Word2Vec for deeper semantic understanding. These features are used to train multiple machine learning and deep learning models such as Random Forest, XGBoost, CNNs, and BiGRUs. A stacking ensemble with a neural meta-learner integrates predictions for improved performance. The model achieves 99% accuracy and an AUC of 0.9522 on a curated Ethereum dataset, handling class imbalance through oversampling and synthetic data generation. We also employ SHAP for model explainability, offering insights into feature importance and promoting transparency. Our framework is scalable and supports real-time monitoring of contracts, helping prevent financial damage by detecting fraud at deployment. This solution enhances the security and reliability of decentralized finance platforms.
Desiree E. Esguerra, Jhon Paul B. Galing, Erika Mae R. Dionisio, Christian Joshua P. Dadia ¡ 6 authors
Small and Medium Enterprises (SMEs) face delays and inefficiencies due to centralized decision-making structures. This research proposes a blockchain-powered Decentralized Autonomous Organization (DAO) framework to automate governance processes, enhance transparency, and empower stakeholders. Results from three SME trials show a $40 \%$ reduction in approval delays and an $80 \%$ improvement in resource allocation transparency, demonstrating the frameworkâs potential to transform traditional business operations. The framework seeks to overcome some of the SMEsâ difficulties, including decision-making inefficiency, transparency, and inflexible business processes. The study uses a mixed-method research approach, where quantitative and qualitative data collection are combined to examine the effect of the DAO model on the organizational performance. This study concludes that the DAO model has the potential to significantly improve organizational agility and management excellence to improve organizational success in competitive business environments.
This paper presents the design and implementation of a decentralized electronic voting system based on a hybrid architecture that integrates the TRON blockchain with off-chain authentication mechanisms.The proposed solution employs smart contracts written in Solidity to record votes in an immutable and publicly auditable manner, while a backend service implemented in Node.js and a MySQL database handles voter authentication and enforces voter uniqueness.To prevent duplicate voting and ensure auditability, cryptographic hash functions are used to bind voter credentials and election parameters to each vote without exposing sensitive data on-chain.Experimental results demonstrate that the system effectively mitigates common security threats, such as duplicate voting and unauthorized data manipulation, while maintaining low transaction costs and practical usability.The findings indicate that the proposed hybrid approach provides a secure, transparent, and cost-effective alternative for electronic voting systems in real-world scenarios.
This letter shows how Tullock contestsâa class of all-pay auctions with proportional allocation rulesâcan be used to model and reason about several blockchain settings. We review the fundamentals of Tullock contests and their connections to potential games. We discuss why certain properties of Tullock contests, such as sybil-proofness and compatibility with "decentralization," have made them common in blockchain applications. We illustrate how Tullock contests naturally arise in proof-of-work and proof-of-stake blockchain protocols, and are an attractive design for emerging marketplaces for blockspace and succinct proofs.
Current blockchain protocols (e.g., Proof-of-Work and Proof-of-Stake) secure the ledger yet cannot measure validator trustworthiness, allowing subtle misconduct that is especially damaging in decentralized-finance (DeFi) settings. We introduce Proof-of-Behavior (PoB), a consensus model that (i) gives each action a layered utility score -- covering motivation and outcome, (ii) adapts validator weights using recent scores, and (iii) applies decentralized verification with proportional slashing. The reward design is incentive-compatible, yielding a Nash equilibrium in which honest behavior maximizes long-run pay-offs. Simulated DeFi experiments (loan-fraud detection, reputation-weighted validation) show that PoB cuts fraud acceptance by more than 90%, demotes malicious validators within two rounds, and improves proposer fairness versus standard PoS, all with no more than a 5% throughput overhead. By linking consensus influence to verifiably trustworthy conduct, PoB offers a scalable, regulation-friendly foundation for secure and fair blockchain governance in financial applications.
Jonas Ballweg, Amir Kafshdar Goharshady, Zhaorun Lin
We consider the classical problem of running a decentralized and trustless auction, using a smart contract, on a programmable block-chain such as Ethereum. In our setting, there are n bidders who have paid a deposit to join the protocol. Each bidder i can make a bid 1 ⤠bi ⤠m and our goal is to find the highest bid (maxi bi) and its corresponding bidder (argmaxi bi) in a publicly-verifiable manner. Each bidder must be unaware of others' bids when making their own and should not be able to change their bid after having committed to it. Additionally, and most importantly, we aim to provide privacy to the losing bidders, ensuring that their bids remain undisclosed. This is particularly crucial in use-cases with repeated auctions in which knowledge of the bids in the previous auctions can affect the bidders' strategies. Formally, the information gained by any observer, whether a participant in the protocol or not, should precisely consist of the winning bid and its bidder and nothing more. We present a novel yet simple protocol for private sealed-bid auctions on the blockchain. Our protocol is decentralized and trustless. It is also both time- and gas-efficient. Our approach takes O(log m) time and costs O(log m) units of gas for each bidder. It also guarantees observational determinism with respect to all losing bids.
The security testing of Ethereum smart contracts has become increasingly important with the rise of decentralized applications (DApps) and blockchain technology. This systematic literature review (SLR) aims to provide a comprehensive overview of the state-of-the-art techniques, methodologies, tools, and challenges in the security testing of Ethereum smart contracts. By synthesizing and analyzing existing research articles, conference papers, and other relevant sources, this SLR identifies common trends, gaps, and areas for future research in this domain. The review covers various aspects of security testing, including vulnerability detection, testing frameworks, automated analysis tools, and best practices. In addition, it explores the impact of security vulnerabilities on smart contract ecosystems and proposes recommendations to improve the effectiveness and efficiency of security testing processes. This SLR serves as a valuable resource for researchers, practitioners, and developers interested in improving the security and reliability of Ethereum smart contracts.
Muhammad Umar Janjua, Abeeha Fatima, Muhammad Waiz Khan, Muhammad Danish Bilal ¡ 6 authors
Smart contract contains both the code and its internal storage data on the chain. This storage data needs to be properly aligned and laid out in the storage trie. Otherwise, it could lead to storage collisions resulting in unexpected behavior or storage-based security exploits such as the Audius hack [1]. In this paper, with our SlotCollider tool, we explore slot collisions that occur when two or more variables share the same storage slots in a proxy contract. Many existing tools rely solely on bytecode analysis for collision detection, but this approach suffers from both false positives and negatives, and is not enough to fully understand the storage layout and complex data types. SlotCollider addresses these issues with the source code based analysis of smart contracts and also incorporates on-chain data for further precision. We evaluated SlotCollider on a set of 4,890 smart contracts that detected an additional 6,558 storage collisions that were missed by other tools [2]. The SlotCollider outperforms existing tools in detection and provides more accurate and reliable results to detect storage collisions in Ethereum smart contracts.
Verifiable Delay Function (VDF) is a cryptographic concept that ensures a minimum delay before output through sequential processing, which is resistant to parallel computing. One of the significant VDF protocols academically reviewed is the VDF protocol proposed by Pietrzak. However, for the blockchain environment, the Pietrzak VDF has drawbacks including long proof size and recursive protocol computation. In this paper, we present an implementation study of Pietrzak VDF verification on Ethereum Virtual Machine (EVM). We found that the discussion in the Pietrzak's original paper can help a clear optimization in EVM where the costs of computation are predefined as the specific amounts of gas. In our results, the cost of VDF verification can be reduced from 4M to 2M gas, and the proof length can be generated under 8 KB with the 2048-bit RSA key length, which is much smaller than the previous expectation.
Efficiency and interoperability are essential for the evolution of secure and scalable e-governance systems. This paper presents a novel framework for interoperable smart contract generation that integrates semantic technologies, and Layer-2 blockchain scaling solutions to enhance interoperability, security, and efficiency in e-governance applications. Using zero-knowledge proofs for privacy-preserving transactions and self-sovereign identity mechanisms for decentralized authentication, the proposed architecture ensures trust and compliance with international standards. Initially applied to e-voting, this framework is adaptable to broader public services, fostering a transparent, cost-effective, and sustainable digital governance ecosystem.
The evolution of blockchain technology, from its origins as a decentralized ledger for cryptocurrencies to its broader applications in areas like decentralized finance (DeFi), has significantly transformed financial ecosystems while introducing new challenges such as Maximum Extractable Value (MEV). This paper explores MEV on the Polygon blockchain, with a particular focus on Atomic Arbitrage (AA) transactions. We establish criteria for identifying AA transactions and analyze key factors such as searcher behavior, bidding dynamics, and token usage. Utilizing a dataset spanning 22 months and covering 23 million blocks, we examine MEV dynamics with a focus on Spam-based and Auction-based backrunning strategies. Our findings reveal that while Spam-based transactions are more prevalent, Auction-based transactions demonstrate greater profitability. Through detailed examples and analysis, we investigate the interactions between network architecture, transaction sequencing, and MEV extraction, offering comprehensive insights into the evolution and challenges of MEV in decentralized ecosystems. These results emphasize the need for robust transaction ordering mechanisms and highlight the implications of emerging MEV strategies for blockchain networks.
Blockchains support a rapidly growing digital economy. Through decentralization, they enable the ownership and transfer of digital assets without centralized intermediaries while resisting attacks, faults, and collusion. Yet decentralization is not guaranteed and must be sustained against external shocks. What design choices help blockchains maintain decentralization when disrupted? We find that resource flexibility, how easily consensus resources can be moved and redeployed, is key to sustained decentralization. Using three real-world shocksâChinaâs 2021 crypto mining ban, Hetznerâs 2022 shutdown of Solana validators, and Ethereumâs transition from proof-of-work to proof-of-stakeâwe show that blockchains whose consensus resources are more flexible recover decentralization faster. These findings offer actionable guidance. Blockchain designers should consider resource flexibility as a first-order design parameter. Operators should diversify infrastructure across jurisdictions to reduce vulnerability to localized shocks. Policymakers should be aware that regulations targeting blockchains can have unintended effects on decentralization.
In online auctions, fraudulent behaviors such as shill bidding pose significant risks. This paper presents a conceptual framework that applies dynamic, behavior-based penalties to deter auction fraud using blockchain smart contracts. Unlike traditional post-auction detection methods, this approach prevents manipulation in real-time by introducing an economic disincentive system where penalty severity scales with suspicious bidding patterns. The framework employs the proposed Bid Shill Score (BSS) to evaluate nine distinct bidding behaviors, dynamically adjusting the penalty fees to make fraudulent activity financially unaffordable while providing fair competition. The system is implemented within a decentralized English auction on the Ethereum blockchain, demonstrating how smart contracts enforce transparent auction rules without trusted intermediaries. Simulations confirm the effectiveness of the proposed model: the dynamic penalty mechanism reduces the profitability of shill bidding while keeping penalties low for honest bidders. Performance evaluation shows that the system introduces only moderate gas and latency overhead, keeping transaction costs and response times within practical bounds for real-world use. The approach provides a practical method for behaviour-based fraud prevention in decentralised systems where trust cannot be assumed.
A scrutinize exposition on tempering of vote in our country India and an exploration into the revolutionary concept of a secure online voting system using Blockchain Technology, aims to avoid tempering of vote by various update in traditional voting methods by integrating blockchain technology in a modernized prototype for polling. This paper presents a proposal to make the polling sturdy and impregnable framework deliberated to assurance transparency, accountability, uprightness, and reachability in current situations of polling. Built and Tested to Delivering a secure and seamless experience for voters, by using the Ethereum blockchain. By assimilating Ethereum Blockchain technology in the system, it makes the system tamper proof and verifies the votes through cryptographic hashes in Ethereum Blockchain.
Thirunavukkarasu Jayakumar, J P Jeffrin, R. Surender, Naresh Kumar Thapa ¡ 6 authors
The project addresses a significant challenge in the real estate sector by developing a secure and transparent decentralized marketplace for property transactions. Inspired by platforms such as OpenSea, the primary aim of this project is to combat fraud and enhance transparency in land registration processes. To achieve this, the project leverages cutting-edge technologies including Ethereum blockchain, Solidity smart contracts, and decentralized storage solutions like InterPlanetary File System (IPFS) and Pinata. The core innovation of this project lies in its use of Ethereum's blockchain technology to facilitate property transactions. Ethereum's smart contracts are employed to automate and enforce transaction rules, ensuring that all property transfers are conducted with utmost security and transparency. These smart contracts handle various aspects of the transaction process, from listing properties to processing bids and executing ownership transfers, all while maintaining an immutable record of each transaction on the blockchain. The platform is built with a user-friendly web interface using HyperText Markup Language (HTML), Cascading Style Sheets (CSS), and JavaScript, designed to offer a responsive and interactive experience for users. This web application integrates seamlessly with the blockchain to provide Real-Time updates and ensure smooth interactions between buyers, sellers, and the system. The decentralized nature of the platform is further reinforced by utilizing InterPlanetary File System (IPFS) for storing property records and transaction data. IPFS ensures that this data is not only secure but also resistant to tampering and data loss, providing a reliable means of maintaining property records. A significant advantage of this system is its ability to mitigate common issues associated with traditional real estate transactions, such as fraudulent activities and inaccurate ownership records. By providing an immutable and transparent record of transactions, the platform instills greater trust in the property market. The use of decentralized storage and smart contracts also reduces reliance on intermediaries, streamlining the transaction process and lowering associated costs. The project's implementation involves rigorous development and testing phases to ensure that the system meets performance and security standards. The platform's prototype has been successfully demonstrated to achieve high responsiveness and accuracy in managing property transactions.
Luigi Bellomarini, Marco Favorito, Giuseppe Galano
We present BitML2MCMAS, a formal verification tool for analyzing Bitcoin smart contracts, when specified in BitML, through ATL model checking using the MCMAS model checker. We developed a translation procedure from a BitML contract to an MCMAS model that simulates the BitML semantics, allowing for strategic reasoning on BitML smart contracts. We tested our tool over several case studies, showing that we can verify smart contract specifications that capture interesting multi-agent strategic interactions.
We analyze the vulnerability of decentralized autonomous organizations (DAOs) to speculative exploitation via their redemption mechanisms. Studying a game-theoretic model of repeated auctions for governance shares with speculators, we characterize the conditions under which -- in equilibrium -- an exploitative exit is guaranteed to occur, occurs in expectation, or never occurs. We evaluate four redemption mechanisms and extend our model to include atomic exits, time delays, and DAO spending strategies. Our results highlight an inherent tension in DAO design: mechanisms intended to protect members from majority attacks can inadvertently create opportunities for costly speculative exploitation. We highlight governance mechanisms that can be used to prevent speculation.
In this article, we propose a new form of decentralized autonomous organization (DAO) governance that uses a sequential auction mechanism to overcome the entrenched control issues that have emerged for DAOs by creating a regime of temporary contestable control. The mechanism avoids potential public choice problems inherent in voting approaches but at the same time provides a vehicle that can enhance and secure value that inheres to DAO voting and other DAO non-market governance procedures. It is robust to empty voting and is code feasible. The mechanism not only facilitates the ability of DAOs to meet their normative and operational goals in the face of diverse regulatory approaches, but also strengthens the case for creating a less burdensome but at least equally effective regulatory regime for DAOs that employ the mechanism. Designed to shift control to the party with the most promising business plan, at the same time, it deters value destruction by control parties, maximizes social surplus, and distributes that surplus in a way that tends to promote investment by other parties both at start up and on an ongoing basis.
ABSTRACT Smart contracts are selfâexecuting programs that operate on a blockchain network. They are designed to automate transaction execution without the need for intermediaries. Once deployed in the blockchain network, smart contracts cannot be altered. However, this immutability can also lead to security risks. If a smart contract contains a vulnerability upon deployment, it cannot be corrected, leaving the code vulnerable. Therefore, incorporating security considerations during the design phase of smart contract development is crucial. Access control is a key security concept that must be integrated into the design of smart contracts to prevent unauthorized access to critical functions or data. In this paper, we introduce a ModelâDriven Architecture (MDA) approach to design access control for smart contracts, and we validate, using Ethereum, the proposed approach using Smart Contract Security Verification Standard (SCSVS) rules.