Will that smart contract really do what you expect it to do?


Smart contracts are believed to be the next step in inter-party automation; traditional trusted third parties are to be replaced by small pieces of code running on a distributed system. However, at the end of the day, these smart contracts controlling high-value assets are pieces of code written by fallible humans. And because of the special nature of smart contracts, mistakes or bugs can have a significant financial impact, as illustrated by a number of recent high-profile incidents. In this whitepaper, we explore this problem further and describe a number of strategies and approaches for the creation of secure and robust smart contracts, some of which can be applied right now, while others require additional research & development to be applicable.