Creating smart contracts using blockchain technology

This paper presents Blockchain, crypto-currencie’s core technology analysis and smart cont- racts potentialities research. Bringing up two frameworks - Ethereum and Bitcoin - helps to un- derstand the principles of how decentralized system work and what solutions ensure data integrity and immutability in both technologies. The main goal of this work - prove, that smart contracts can be used in real world system model. Paper egzamines prototypes, which increase exponentially by their complexity to cover major aspects of developing contracts and find execution principles and niuances of Blockchain technology. Primary prototype is Vilnius University document storing and signing application. Prototype introduces document validation, protection against falsification and data integrity ensurance solution. This paper summarizes blockchain potencial and uses prototypes to substantiate it