research-article

Legally Enforceable Smart-Contract Languages: A Systematic Literature Review

Authors:

Vishwajeet Pattanaik,

Abhishek Dixit,

Dirk DraheimAuthors Info & Claims

ACM Computing Surveys (CSUR), Volume 54, Issue 5

Article No.: 110, Pages 1 - 34

https://doi.org/10.1145/3453475

Published: 05 June 2021 Publication History

Abstract

Smart contracts are a key component of today’s blockchains. They are critical in controlling decentralized autonomous organizations (DAO). However, smart contracts are not yet legally binding nor enforceable; this makes it difficult for businesses to adopt the DAO paradigm. Therefore, this study reviews existing Smart Contract Languages (SCL) and identifies properties that are critical to any future SCL for drafting legally binding contracts. This is achieved by conducting a Systematic Literature Review (SLR) of white- and grey literature published between 2015 and 2019. Using the SLR methodology, 45 Selected and 28 Supporting Studies detailing 45 state-of-the-art SCLs are selected. Finally, 10 SCL properties that enable legally compliant DAOs are discovered, and specifications for developing SCLs are explored.

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cover image ACM Computing Surveys

ACM Computing Surveys Volume 54, Issue 5

June 2022

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ISSN:0360-0300

EISSN:1557-7341

DOI:10.1145/3467690

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Published: 05 June 2021

Accepted: 01 March 2021

Revised: 01 December 2020

Received: 01 April 2020

Published in CSUR Volume 54, Issue 5

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Iyer RMaralapalle VPatil DIrfan M(2024)The Future of Smart ContractsAI-Driven Decentralized Finance and the Future of Finance10.4018/979-8-3693-6321-8.ch010(225-251)Online publication date: 30-Aug-2024
https://doi.org/10.4018/979-8-3693-6321-8.ch010
Shamala LBalasaraswathi VGayathri R(2024)Revolutionizing Industry and Business Processes With Smart Contracts in BlockchainDecentralizing the Online Experience With Web3 Technologies10.4018/979-8-3693-1532-3.ch011(225-245)Online publication date: 15-Mar-2024
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Mustafa IMcGibney ARea S(2024)Smart contract life-cycle management: an engineering framework for the generation of robust and verifiable smart contractsFrontiers in Blockchain10.3389/fbloc.2023.12762336Online publication date: 8-Jan-2024
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