Off-chain execution of IoT Smart Contracts

Abstract

Smart Contracts are digital programs, immutable, distributed on a blockchain, which allows two or more users to agree. These have found space in various areas, starting from finance to human care, passing through energy.IoT field is exponentially expanding itself during these last years and it emerges more and more challenges related to security. Blockchains and Smart Contracts are candidates to become key points of IoT, in fact, they allow tracking of billion devices and transactions done.Therefore, a decentralized approach like the blockchain one reduces breakpoints and improves security thanks to the cryptographic algorithm utilized.However, there are also some negative sides, the interaction of many devices concede to a large quantity of produced data, raising the number of fees and slowing the execution times.Tackling that problem, Diversity, a novel approach, allows off-chain execution of Smart Contracts. Diversity provides an innovative model for defining on-chain contracts, which can be securely executed, by using an original off-chain protocol.