Preprint Article Version 1 Preserved in Portico This version is not peer-reviewed

Resolving the Blockchain Paradox with Dynamic Immutable Smart Contract (DISC)

Version 1 : Received: 1 May 2021 / Approved: 5 May 2021 / Online: 5 May 2021 (09:02:15 CEST)

How to cite: Raheman, F.; Bhagat, T.; Dayma, A.; Raheman, A.; Anwar, S.; Becue, P.; Sercu, V. Resolving the Blockchain Paradox with Dynamic Immutable Smart Contract (DISC). Preprints 2021, 2021050028 (doi: 10.20944/preprints202105.0028.v1). Raheman, F.; Bhagat, T.; Dayma, A.; Raheman, A.; Anwar, S.; Becue, P.; Sercu, V. Resolving the Blockchain Paradox with Dynamic Immutable Smart Contract (DISC). Preprints 2021, 2021050028 (doi: 10.20944/preprints202105.0028.v1).

Abstract

While immutability is Blockchain's* much celebrated covenant, change is the rule of life. The paradox has seriously limited real-world deployability of Smart Contracts (SC), faltering its mainstream adoption and sustainability. Once implemented, SC remains unstoppable even if its execution makes losses, as evident in the recently exploded $50+B DeFi industry. How do we reconcile the two and make DeFI/Blockchain profitable and sustainable? A DISC (Dynamic Immutable Smart Contract) hypothesis was proposed to resolve the paradox. Using an existing decentralized IoT device framework we test the DISC hypothesis, by designing/implementing a DISC protocol that delivers an algorithmically controlled dynamic off-chain data feed into a self-executing SC. The experiment successfully introduced limited dynamism into SC without compromising its immutability or undermining user control over their SC terms. If consistently reproduced in diverse settings, the DISC protocol could earn an important milestone in the evolution of Blockchain's decentralized economy of the future.

Supplementary and Associated Material

https://drfazal.medium.com/resolving-the-blockchain-paradox-the-disc-hypothesis-de4f44148f09: This DISC hypothesis formulating article, which the submitted article tests in experiments

Subject Areas

Blockchain Paradox; DISC Hypothesis; Smart Contract; DeFi; Oracle; AI, Sustainable.

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