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Fully Decentralized Application Model by Peer to Peer Smart Contract of Blockchain

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posted on 03.03.2021, 08:37 by Hong Su, Bing Guo, Junyu Lu, Xinhua Suo
Currently, the P2P method is that its software runs on a P2P hardware environment. However, the software is not a P2P one. It is difficult to match the scenarios in which the users' requirements change often. Meanwhile, if the software is out of service, all participants are affected. Thus, in this paper, we propose the fully decentralized application model, in which a P2P software runs in a P2P hardware environment. It is based on the blockchain, as a blockchain provides a secured P2P hardware environment. We focus on its P2P software (the P2P smart contract). A P2P smart contract is formed by smart contracts from its participants instead of a third party. It allows each participant to specify its requirement in a turning-complete way and the failure of one smart contract does not affect other smart contracts. We first describe the requirement of the P2P smart contract and the dependence among them. Then, we propose different ways to pair associated smart contracts. At last, we verify the proposed P2P smart contract model, and it shows more flexibility and robustness than the centralized software method.

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Email Address of Submitting Author

suguest@126.com

Submitting Author's Institution

Sichuan University

Submitting Author's Country

China

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