TY  - JOUR
AB  - Purpose The application of smart contract can greatly reduce transaction costs and improve transaction efficiency. The existing smart contract are expensive, single application scenario and inefficient. This paper aims to propose a new smart contract model to solve these problems.Design/methodology/approach By investigating the research history, models and platforms, this paper summarizes the shortcomings of existing smart contracts. Based on the content and architecture of traditional contract, a smart contract model with wider application scope is designed.Findings In this paper, several models are used to describe the operation mechanism of smart contracts. To facilitate computer execution, a decomposition method is proposed, which divides smart contracts into several sub-contracts. Then, the advantages and deployment methods of smart contract are discussed. On this basis, a specific example is given to illustrate how the application of smart contract will change our life.Originality/value Smart contract is gradually applied to more fields. In this paper, the structure and operation mechanism of smart contract system in reality are given, which will be beneficial to the application of smart contract to more complex systems.
VL  - 3
IS  - 2
SN  - 2398-7294
DO  - 10.1108/IJCS-03-2019-0010
UR  - https://doi.org/10.1108/IJCS-03-2019-0010
AU  - Feng Tianyu
AU  - Yu Xiao
AU  - Chai Yueting
AU  - Liu Yi
PY  - 2019
Y1  - 2019/01/01
TI  - Smart contract model for complex reality transaction
T2  - International Journal of Crowd Science
PB  - Emerald Publishing Limited
SP  - 184
EP  - 197
Y2  - 2024/04/23
ER  -