Formal Specification Technique in Smart Contract Verification

The block chain technology is changing rapidly. The block chain guarantees the integrity of the book through a specific consensus of the participants. In the past, the block chain technology had a limited range of applications. However, the use of block chain technology is gradually expanding as smart contracts that can formulate general business logic are mentioned. Already studied the components of smart contracts in other studies and proposed the possibility of extending them on the basis of ontology. And research on securing traceability of smart contract based on ontology has been carried out. However, research on various transactions constituting smart contracts is lacking. In this paper, the constituent elements of smart contract are analyzed and expressed by ontology. And the process of negotiating the components is represented by each transaction. Finally, we construct the component represented by the ontology as XML by including the state information in the transaction. In this way, the smart contract is represented in a formal language that contains state information. It also laid the foundation for a smart contract that can be reused and verified.