A Reputation Framework for Decentralized Applications on Ethereum

Abstract

The emergence of smart contracts in Web3 has revolutionized the world of decentralized applications (DApps), allowing real-world contracts to be deployed on a decentralized network and influencing the underlying blockchain state through transaction execution. As the popularity of Web3 is increasing, people are coming across many smart contracts on the internet. However, the reputation of smart contracts has become a paramount concern for Web3 users due to the high risk of financial loss resulting from malicious contract policies. Unfortunately, the popularity of DApps built with smart contracts has also led to a rise in scams and attacks that exploit vulnerabilities in their code, requiring a constant stream of innovations in scam pattern detection tools.

To address these challenges, this research endeavors to develop a comprehensive framework that evaluates the trustworthiness of deployed DApps of all kinds. Unlike existing tools that only detect known scam patterns and require constant innovation, this novel approach considers all relevant factors to present users with a reliable and explainable reputation score by analyzing various components of a deployed DApp, including the code, transactions, and the owner’s behavior.

Ultimately, the proposed framework has the potential to transform the Web3 landscape by providing a standardized and transparent approach to evaluating the reputation of DApps, ensuring the safety and security of Web3 users.