A smart contract is a computerized transaction protocol that executes the terms of a contract.
Solidity is a contract-oriented, high-level language for implementing smart contracts over the Ethereum Virtual Machine
|Node Ledger Storage||Cinder / Swift|
Adapted from Blockchain and OpenStack - Building Trusted Chains
Chainpoint is an open standard for linking data to the blockchain to create a timestamp proof
The Keystone middleware library is able to audit API requests for each component of OpenStack
|Needs a trade-off between on- and off-chain data in case of heavy logging|
|Smart contracts are used to enforce payments
Fine control of resource consumption
|VAT regulations for cryptocurrencies|
Using smart contracts to orchestrate the cloud by calling the Heat API.
This is the most challenging scenario.
CAVEAT: Most blockchains (e.g., Ethereum) are designed to be entirely deterministic.
Hence making API calls from inside a smart contract (e.g., a Solidity program) is forbidden.
FIRST SOLUTION: We accept data inputs from more than one untrusted party and then execute the data-dependent action only after a number of them have provided the same answer.
SECOND SOLUTION: We demonstrate that the data is genuine and untampered (auditable VMs, Trusted Execution Environments, ...).
Oracles (e.g., Oraclize) can act as data carriers, building a reliable connection between APIs and the smart contract
And we can build others.
|Extremely powerful||Tricky to implement|
Viduo is an open think tank based in Rome