Integrated Model-Driven Engineering of Blockchain Applications for Business Processes and Asset Management
This addresses the problem of reducing vulnerabilities in blockchain application development for developers, though it appears incremental by applying existing MDE methods to a specific domain.
The paper tackles the difficulty of developing secure blockchain applications by proposing an integrated model-driven engineering (MDE) approach for business processes and asset management, resulting in a tool called Lorikeet that is evaluated for feasibility, functional correctness, and cost effectiveness.
Blockchain has attracted broad interests to build decentralised applications. Blockchain has attracted broad interests to build decentralised applications. However, developing such applications without introducing vulnerabilities is hard for developers, not the least because the deployed code is immutable and can be called by anyone with access to the network. Model-driven engineering (MDE) helps to reduce those risks, by combining proven code snippets as per the model specification, which is easier to understand than source code. Therefore, in this paper, we present an approach for integrated MDE across business processes and asset management (e.g. for settlement). Our approach includes methods for fungible/non-fungible asset registration, escrow for conditional payment, and asset swap. The proposed MDE approach is implemented in a smart contract generation tool called Lorikeet, and evaluated in terms of feasibility, functional correctness, and cost effectiveness.