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Blockchain technology and smart contracts enable decentralized applications, but security and legal issues hinder adoption. This survey analyzes current solutions, identifies challenges, and explores future trends in blockchain-enabled smart contracts.

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Area of Science:

  • Computer Science
  • Information Technology
  • Financial Technology

Background:

  • Blockchain technology and cryptocurrencies have spurred a new crypto-economy.
  • Smart contracts facilitate decentralized applications by automating agreements between untrustworthy parties.
  • Despite benefits, smart contracts face adoption barriers due to security, vulnerabilities, and legal concerns.

Purpose of the Study:

  • To provide a comprehensive survey of blockchain-enabled smart contracts.
  • To analyze smart contracts from both technical and usage perspectives.
  • To identify challenges, open issues, and future trends in the field.

Main Methods:

  • A systematic review of existing blockchain-enabled smart contract solutions.
  • Development of a taxonomy for categorizing smart contract solutions.
  • Categorization of research papers and discussion of existing studies.

Main Results:

  • A structured overview of current blockchain-enabled smart contract technologies.
  • Identification of key security threats, vulnerabilities, and legal challenges.
  • Categorization of research based on technical and usage aspects.

Conclusions:

  • Smart contracts offer significant potential for decentralized applications.
  • Addressing security, legal, and technical challenges is crucial for wider adoption.
  • Future research should focus on overcoming identified obstacles and exploring emerging trends.