A traditional smart contract paradigm provides a solution that is based on a general-purpose instruction set for all domains. For example, in the case of Ethereum, a set of opcodes has been developed for the EVM that can be used to build smart contracts to address any type of requirements for any industry.
While this model has its merits, it is becoming clear that this approach is not very secure as it provides a single interface into the ledger with a powerful and expressive language, which potentially offers a larger attack surface for malicious code. This complexity and generic virtual machine paradigm have resulted in several vulnerabilities that were found and exploited recently by hackers. A recent example is the ...
