Smart-Contract Protocols: Theory for Applications

Smart contracts are formal agreements that take the form of computer programs. They are typically written down, and automatically executed, on blockchains. Smart-contract protocols are algorithms that describe how these contracts operate in multiparty settings. Due to the large number of potential applications, interest in this field has exploded in the last few years.

Also, the PI has generated important results through his work in this area. The ambitious goal of PROCONTRA is to transfigure this emerging field into a mature science.

Our main research hypothesis is that smart-contract protocols will be used in real life and many of them will strongly rely on advanced cryptographic techniques and will need to be developed using modeling methods from theoretical cryptography. We will work in this direction by proposing new solutions in this area, providing formal models and security proofs.

Given the importance of these protocols, it is crucial to fully analyze their security before they are deployed in real life. Therefore, the first pillar of this project is to design a complete security model for analyzing them. The second pillar is to propose new smart-contract protocols and to extend the existing ones.

Our protocols will be proven secure in the model we propose in the first pillar. This will be done using traditional pen-and-paper methods. However, the most important proofs will also be machine-checked using proof assistants.

On a more theoretical side, we will also work on characterizing what tasks are in general achievable using smart contracts, and under what assumptions.

Throughout the project, we will closely interact with the smart-contract practitioners, and with the industry, in order to understand what are the practically-relevant problems in this field and to ensure that the projects outcome will have an impact beyond academia. This will also take a form of participation in the standardization efforts in this area.