Project description
Establishing trust in smart contracts on the blockchain
In blockchain-based ecosystems, smart contracts are important building blocks. They are digital, decentralised and transparent. They refer to computer protocols that digitally facilitate the verification and execution of an agreement. They are also appealing targets for cyberattacks, and relatively easy to hack. In this context, the ERC-funded CONSEC project will enable secure execution of smart contracts on the blockchain. It will take a holistic approach by developing security mechanisms covering various stages of the blockchain ecosystem starting from smart contract development and maintenance to smart contract execution and forensic analysis. The project will design a secure execution monitor to audit smart contracts while they execute on the blockchain allowing instant reaction to run-time attacks.
Objective
Smart contracts are computer programs that autonomously execute on the blockchain. They have the potential to revolutionize many applications from finance, insurance, energy, healthcare, and production industries. However, smart contracts have become an appealing attack target. Since smart contracts are always online and easy to hack once a vulnerability is discovered, recent attacks resulted in large losses of cryptocurrency thereby questioning the benefits of this revolutionary technology. CONSEC is the first holistic framework that will enable secure execution of smart contracts on the blockchain. It takes a holistic approach by developing security mechanisms covering various stages of the blockchain ecosystem starting from smart contract development and maintenance to smart contract execution and forensic analysis. A key aspect of this project is the development of the first secure smart contract compiler which detects and automatically patches smart contract bugs in the development phase. An innovative update process complements the secure compiler to mitigate new and unknown attack vectors supporting developers who deployed vulnerable contracts. Further, CONSEC will develop a secure execution monitor to audit smart contracts while they execute on the blockchain allowing instant reaction to run-time attacks. To tackle the current lack of comprehensive approaches to validate the security of already deployed contracts, CONSEC will develop new forensic dynamic analysis approaches. CONSEC establishes trust in smart contract technology enabling secure deployment and execution of smart contracts on the blockchain.
Fields of science (EuroSciVoc)
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
This project's classification has been human-validated.
CORDIS classifies projects with EuroSciVoc, a multilingual taxonomy of fields of science, through a semi-automatic process based on NLP techniques. See: The European Science Vocabulary.
This project's classification has been human-validated.
Keywords
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Project’s keywords as indicated by the project coordinator. Not to be confused with the EuroSciVoc taxonomy (Fields of science)
Programme(s)
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
Multi-annual funding programmes that define the EU’s priorities for research and innovation.
-
HORIZON.1.1 - European Research Council (ERC)
MAIN PROGRAMME
See all projects funded under this programme
Topic(s)
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Calls for proposals are divided into topics. A topic defines a specific subject or area for which applicants can submit proposals. The description of a topic comprises its specific scope and the expected impact of the funded project.
Funding Scheme
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
Funding scheme (or “Type of Action”) inside a programme with common features. It specifies: the scope of what is funded; the reimbursement rate; specific evaluation criteria to qualify for funding; and the use of simplified forms of costs like lump sums.
HORIZON-ERC - HORIZON ERC Grants
See all projects funded under this funding scheme
Call for proposal
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
Procedure for inviting applicants to submit project proposals, with the aim of receiving EU funding.
(opens in new window) ERC-2021-STG
See all projects funded under this callHost institution
Net EU financial contribution. The sum of money that the participant receives, deducted by the EU contribution to its linked third party. It considers the distribution of the EU financial contribution between direct beneficiaries of the project and other types of participants, like third-party participants.
45141 Essen
Germany
The total costs incurred by this organisation to participate in the project, including direct and indirect costs. This amount is a subset of the overall project budget.