A Study of Blockchain for Secure Smart Contract

Abstract

Blockchain is a novel and effective technology, which renders the implementation capability of various cases like public services, economic systems, Internet of Things, internet interaction systems, and smart contract applications. Smart contract works in such a way that the computer works as a third party, and the other two senders and receivers are those who digitally agree to the obligations and rights. Blockchain keeps the record of the contract which is executed by the network’s distributed nodes, where the third party requirement is eliminated as Blockchain decentralized in nature. There are still multiple security and privacy issues with the smart contract that imposes a huge threat to its continued effectiveness and growing esteem and recognition. In this article, the issues of transactions in smart contracts were discussed and different tools were analyzed to overcome these issues.