An introduction to commitment based smart contracts using ReactionRuleML
de Kruijff,Joost Weigand,Hans
de Kruijff,Joost
Weigand,Hans
Abstract
Smart contracts gain rapid exposure since the inception of blockchain technology. Today's smart contracts are coded in non-mainstream procedural programming languages (e.g. Solidity for Ethereum), which lifts the requirement to draft enterprise ready smart contract to both a legal professional and a programmer instead of only the former. In search for a smart contract language that reduces the threshold to draft one, this conceptual paper elaborates how business logic can be converted to executable code for commitment-based smart contracts. Hereby, a contract is viewed as a set of reciprocal commitments. The smart contract ensures the automated execution of all or most of these commitments. In order to leverage its event processing capabilities, Reaction RuleML has been used to appropriately represent the elements and working of passive and active rules within a commitment based smart.
Description
Date
2018-02
Journal Title
Journal ISSN
Volume Title
Publisher
CEUR
Research Projects
Organizational Units
Journal Issue
Keywords
Citation
de Kruijff, J & Weigand, H 2018, An introduction to commitment based smart contracts using ReactionRuleML. in J Gordijn (ed.), Proceedings of the 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) . vol. 2239, CEUR, Amsterdam, pp. 149-157, 12th International Workshop on Value Modeling and Business Ontologies (VMBO 2018) , Amsterdam, Netherlands, 26/02/18. < https://vmbo2018.e3value.com/wp-content/uploads/2018/02/VMBO_2018_paper_17.pdf >
License
info:eu-repo/semantics/openAccess