Smart Contract execution costs optimisation on blockchain network

Abstract

Blockchain is a type of decentralized database where all data are kept in one large chain of interconnected blocks of data stored on a large number of servers around the world. Besides decentralization, an additional advantage of this technology is the absence of intermediaries in communication between participants in the process. With the advent of the Ethereum network which is based on blockchain technology, in addition to performing financial transactions, now it is possible to create programs that could be executed on this network. However, execution of these programs, known as Smart Contract, costs money that is billed on this network in the form of gas which is directly proportional to the complexity of the computer operations performed within these contracts. Optimizing the structure and content of smart contracts directly implies reducing the cost/gas for their execution. In this paper we propose the structure of smart contracts in the context of gas optimization for their execution.