Research on key technologies of fiat digital currency smart contracts
The research, promotion and application of fiat digital currency has extensive and far-reaching significance. It can not only reshape the operating mechanism of the financial industry, enhance the economic operation function, and promote the internationalization of the RMB, but also optimize the monetary policy transmission mechanism, enhance the accuracy of the policy, and seize the international market. The right to speak in trade and change the world’s financial landscape. China’s central bank digital currency has entered the pilot test phase in many cities. The central bank builds a “central bank-commercial bank” double-layer digital currency operation system. The central bank plays the role of currency issuer, and the commercial bank undertakes the service functions of providing digital RMB exchange and circulation to the public. It is foreseeable that the implementation of the digital RMB will have a long-term impact on the existing business models of commercial banks and internal and external competition and cooperation.
In the field of traditional financial transactions, commercial banks formulate a series of credit certification documents such as checks, money orders, promissory notes, large deposit certificates, and credit deposit certificates, which are used to confirm assets. Commercial banks provide effective security guarantees for remote large-value transactions by providing credit guarantees for various financial institutions. As a fiat currency with legality, stability and anchoring, the central bank digital currency will inevitably require credit certificates and guarantees of agreed conditions when it is applied to various remote large-value transaction scenarios, and is set according to different transaction scenarios.
Smart contracts can strongly support various different transaction scenarios of digital currencies, meet the needs of diversified forms of payment, and have the characteristics of transparency and credibility, automatic execution, and mandatory performance. The combination of smart contract and fiat digital currency can be effectively applied to business scenarios such as conditional payment and scheduled payment of digital currency, which is conducive to the function of digital currency. A smart contract is a set of commitments defined in digital form. It controls digital assets and contains the rights and obligations agreed by contract participants. Its essence is a computer program. Once certain predefined rules and terms are met, the computer will automatically Execute contract terms to realize the transfer of digital assets in accordance with the contract and avoid human intervention. Therefore, the use of smart contracts can effectively avoid malicious attacks such as transaction tampering, reduce transaction disputes, and ensure fairness to all parties to the transaction.
The research team takes the smart contract system supporting fiat digital currency as the research object, and conducts research on the key technologies of smart contract such as smart contract language, virtual machine, compiler, etc., focusing on solving the incompatibility between smart contract language and fiat digital currency, contract security and The correctness is difficult to verify, the efficiency of smart contract execution is low, and the supervision system is weak, forming a complete and practical fiat digital currency smart contract system. Specifically, the subject will conduct scientific research from four aspects: smart contract language and compilation execution system, smart contract formal verification and vulnerability detection, smart contract operation acceleration technology, and smart contract supervision system, with a view to using research results to promote fiat digital currency smart contracts Development.
The research team uses the pain points faced by the fiat digital currency smart contract system as the driving force for innovation, and explores a new smart contract system for fiat digital currency. It plans to focus on the following four key research contents to achieve breakthroughs.
Research content 1: Smart contract language and compilation execution system
The life cycle of a smart contract includes multiple links such as development, compilation, execution, and destruction. It is written in a high-level programming language and compiled into a virtual machine executable low-level bytecode form using a compiler. Fiat digital currency has its own unique underlying platform and core architecture, and new smart contract languages and compilation and execution systems suitable for digital currency must be studied. First of all, from the perspective of smart contract language, the basic structure of the contract, the underlying function interface, and the field-specific language related to digital currency are studied, so that the contract can support the basic functions of digital currency wallet authorization, verification, payment and transfer, so as to promote digital The commercialization of currency scenarios; secondly, from the perspective of smart contract compilation and execution, research on key links such as contract compilation, contract deployment, contract execution, and smart contract multi-party and multi-layer security monitoring processes, and explore smart contracts under the fiat digital currency system Compile the execution mechanism; third, analyze the external malicious attacks that may be encountered during the execution of the smart contract, build a safe and reliable contract operation protection mechanism, provide sandbox isolation protection for the execution of the smart contract, and ensure the isolation and robustness of the contract operation state ; Finally, in order to make contract development easier, we will study novel smart contract visual programming mechanisms to improve contract development efficiency.
Aiming at the language design of smart contracts, research the new smart contract language, compilation and execution mechanism, operation protection mechanism and visual programming mechanism under the fiat digital currency system. Specifically:
1) Research on new smart contract languages, combined with the characteristics of fiat digital currencies, explore and design new smart contract programming languages for digital currencies, to meet the needs of smart contract language features under the digital currency system, and improve the scalability and robustness of smart contract development Sex
2) Study the compilation and execution mechanism of smart contracts, and explore the compilation and execution mechanism of smart contracts under the fiat digital currency system from various aspects such as compilers and virtual machines to ensure the correct compilation and execution of contracts;
3) Study the protection mechanism of smart contract operation, from the perspective of contract operation environment, analyze the attack scenarios that may be encountered during the execution of smart contract, build a safe and reliable contract sandbox protection mechanism, and improve the isolation and robustness of the smart contract operation state , High efficiency;
4) Study the visual programming mechanism of smart contracts, explore feasible and available contract visual programming mechanisms, make contract development easier, and improve the efficiency of smart contract development and the popularity of contracts.
Research content 2: Smart contract formal verification and vulnerability detection technology
A smart contract is essentially a piece of computer program code, which follows the “If-Then” working principle. When a predefined condition is met or verified, the smart contract can be executed automatically without third-party intervention. Up to now, tens of thousands of smart contracts have been deployed on various blockchain platforms (such as Ethereum, Witte Chain, etc.). As the number of smart contracts increases, their security issues have become more and more important. The smart contract under the fiat digital currency system carries the performance of commercial contracts and also involves the transfer of funds between customer accounts. If there is a security problem in the smart contract, it may directly lead to the risk of the loss of account funds. Therefore, the security and correctness of the smart contract must be fully verified and tested.
Aiming at the security of smart contracts, research the formal verification technology and vulnerability detection technology of smart contracts under the fiat digital currency system. Specifically:
1) Research the formal verification technology of smart contracts and explore new formal verification methods to meet the verification requirements of new smart contracts under the fiat digital currency system;
2) Research the smart contract vulnerability detection technology based on static analysis and dynamic execution, combine static analysis and dynamic execution of multiple vulnerability detection schemes, explore new smart contract vulnerability detection methods based on static analysis and dynamic execution, in order to be able to detect digital currency Various types of contract vulnerabilities that may exist in smart contracts are analyzed and detected.
3) Research on the smart contract vulnerability detection technology based on deep learning, combined with the characteristics of digital currency smart contracts, explore the vulnerability detection model based on deep learning, and strive to improve the accuracy, timeliness and automation of vulnerability detection, in order to achieve effective intelligence Contract vulnerability detection tool.
Research content 3: Smart contract operation acceleration technology
In the context of the vigorous promotion of fiat digital currency, smart contracts as a performance tool of the business society will face the test of massive transactions and large concurrency, so the efficient operation of smart contracts is a necessary research content. It is planned to study the parallel execution of smart contracts, data sharding technology and integrated collaboration technologies to realize the efficient operation of smart contracts. On the other hand, existing smart contracts cannot complete the business operations of all commercial social contracts, and need to be integrated with the existing traditional architecture information system to provide a high-performance integration layer and improve the overall execution performance of smart contracts. Specifically:
1) Research on the parallel mechanism of smart contracts, so that the business that originally required serial processing can be turned into parallel processing, and reduce the cost of data flow and intercommunication, and provide a reliable and credible business collaboration platform for the execution of various tasks;
2) Study smart contract data fragmentation storage technology, divide smart contract data into multiple fragments and place these fragments on different nodes, and divide the network into fragments so that more transactions can be processed and verified at the same time;
3) Study the integrated and collaborative technology of smart contracts, combine the expanded computing and storage capabilities of the contract with the external system environment, and build a large-scale and efficient integrated collaborative smart contract operating system.
Research Content 4: Smart Contract Supervision System
Smart contracts are a performance tool for the commercial society. Effective supervision of the entire life cycle of smart contracts is required, including contract review, transaction behavior during contract execution, and execution processing after default, etc., all need to provide a set of penetrable The regulatory model of the country serves as a starting point for supervision. It is planned to study the penetrating supervision capabilities based on blockchain technology to realize the supervision system of smart contracts, including environmental data such as contract signing and execution, which will be distributed through the blockchain network to meet the supervision of regulatory authorities at the level of business and compliance Demand. Specifically:
1) Study the deployment and review mechanism of smart contracts. Contract operators need to actively detect contracts before they are launched on the chain, and deal with them according to the detection results. If any illegal content is found, it will be reported, and at the same time, it will not be launched on the chain;
2) Study the implementation and supervision mechanism of smart contracts. Regulatory agencies control the execution status of smart contracts, review illegal content, and block or filter them to prevent continued transmission;
3) Study the storage certificate mechanism of smart contracts, realize the multi-party verification and multi-party storage of smart contracts under the fiat digital currency system, ensure the traceability of transactions, and explore the possibility of smart contract security verification combined with blockchain technology.
