Issue No. 04 - July/August (2018 vol. 16)
Lin Chen , University of Houston
Lei Xu , University of Houston
Zhimin Gao , University of Houston
Yang Lu , University of Houston
Weidong Shi , University of Houston
Many consensus protocols are based on the assumption that participants are either “good” or “bad” but ignore the fact that they may be affected by direct or indirect economic interests involved in the corresponding smart contracts. We analyze consensus in decentralized environments and demonstrate that the system cannot guarantee correct execution results.
Contracts, Protocols, Blockchain, Computer security, Privacy
L. Chen, L. Xu, Z. Gao, Y. Lu and W. Shi, "Tyranny of the Majority: On the (Im)possibility of Correctness of Smart Contracts," in IEEE Security & Privacy, vol. 16, no. 4, pp. 30-37, 2018.