Research Guide on Blockchain Smart Contract Execution Methods

Research Guide on Blockchain Smart Contract Execution Methods

Glossary

Term Definitions Blockchain A distributed, immutable database maintained by multiple participants to record transaction information. Smart Contract A piece of code stored on the blockchain that is automatically executed when preset conditions are met. Third-party Platform Refers to a platform outside the blockchain system that is used to store data related to blockchain transactions. Encryption Converting data into an unreadable format to protect its confidentiality. Decryption Converting encrypted data back to a readable format. Content-addressed storage (CAS) A method of storing and retrieving data based on content rather than location. Cross-chain data reference relationship Data association relationship between different blockchains. Key Code used to encrypt and decrypt data. Data Digest A short code extracted from data to verify data integrity. Consensus Mechanism: A mechanism by which all nodes in a blockchain network agree on the order of transactions, such as the Practical Byzantine Fault Tolerance (PBFT) algorithm, Proof of Stake (PoS), Proof of Work (PoW). Short Answer Questions

Please answer the following questions in 2-3 sentences:

What is the difference between smart contracts and traditional contracts?

What role does the third-party platform play in the execution of smart contracts?

Why is it necessary to encrypt the target data?

How to verify whether the target data is consistent with the smart contract?

What is content-addressed storage (CAS)? What advantages does it have in the execution of smart contracts?

What is a cross-chain data reference relationship?

Please explain the role of keys in the execution of smart contracts.

What role does the data summary play in the execution of smart contracts?

After the execution of the smart contract is completed, where is the calculation result stored?

Please briefly describe the execution process of smart contracts in the consortium chain.

Answer

The difference between smart contracts and traditional contracts is that: Smart contracts are codes stored on the blockchain, which can be executed automatically without the intervention of a third party; while traditional contracts are paper or electronic documents signed by two or more parties, which require a third party to interpret and execute.

The role of the third-party platform in the execution of smart contracts is: to store data related to blockchain transactions, such as target data, and provide data query services.

The reason why the target data needs to be encrypted is: to protect the confidentiality of the data and prevent unauthorized access and tampering.

The method to verify whether the target data is consistent with the smart contract is: to compare the target data with the conditions preset in the smart contract. If they match, the target data is considered valid.

Content-addressed storage (CAS) is a method of storing and retrieving data based on content rather than location. In the execution of smart contracts, the use of CAS can improve data query efficiency and ensure the integrity and immutability of data.

Cross-chain data reference relationship refers to: the data association relationship between different blockchains, for example, the data relationship between blockchains of different members in a consortium chain.

In the process of smart contract execution, the role of the key is: to encrypt and decrypt data to ensure that only authorized users can access and use the data.

The role of the data summary in the execution of smart contracts is: to verify the integrity of the data and ensure that the data has not been tampered with during transmission and storage.

After the execution of the smart contract is completed, the calculation results are stored: on the blockchain and are permanently recorded as part of the transaction.

The execution process of smart contracts in the alliance chain is briefly described as follows: The user deploys the smart contract to the alliance chain; when the preset conditions are met, the smart contract is triggered to execute; the smart contract obtains the target data from the third-party platform; the smart contract verifies the target data; if the verification passes, the corresponding operation is performed and the result is written to the blockchain.

Thesis title

Discuss the execution efficiency and security of smart contracts under different consensus mechanisms.

Analyze the role and responsibility of the third-party platform in the execution of smart contracts, and propose corresponding regulatory mechanisms.

Study the application of cross-chain technology in the execution of smart contracts, and how to solve cross-chain data security and privacy issues.

Discuss the legal effect and dispute resolution mechanism of smart contracts, and analyze their impact on the traditional legal system.

Analyze the advantages and disadvantages of smart contracts in different application scenarios, and look forward to their future development trends.