Smart Contract as a Service: A Paradigm of Reusing Smart Contract in Web3 Ecosystem

Document Type

Article

Publication Title

IEEE Consumer Electronics Magazine

Abstract

Recently, smart contract, a code script that autonomously runs on blockchains, has facilitated numerous decentralized applications and accelerated the boost of the Web3 ecosystem. However, the current underutilization of smart contracts and a large number of duplicate smart contracts have caused significant challenges to blockchains. Considering the reusability and composability of smart contracts, we can innovatively address these issues, promote diversity for decentralized projects, and increase efficiency for Web3 developers. In this tutorial paper, we first propose a novel service-oriented paradigm: Smart Contracts as a Service (SCaaS), then analyze the feasibility of SCaaS, delve into its application scenarios and finally explore the challenges and limitations and propose the potential solutions accordingly.

DOI

10.1109/MCE.2024.3353178

Publication Date

1-12-2024

Keywords

Blockchains, Cloud computing, Consumer electronics, Decentralized applications, Ecosystems, Smart contracts, Software as a service

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