System and method for multi-party generation of blockchain-based smart contract

A system comprising:

• a first processor executing first computing entity;
• a second processor executing a second computing entity;
• a third processor executing a third computing entity different from both the first computing entity and the second computing entity;
• a smart contract generated by the first computing entity and the second computing entity;
• and
• memory including executable instructions of the third computing entity that, as a result of execution by the third processor, causes the system to:
• receive the smart contract comprising a first transaction input and an evaluation key Ek provided by the first computing entity and a second transaction input provided by the second computing entity;
• execute the smart contract by performing a computational task comprising the computation of a function on an input to the smart contract to produce an output of the smart contract;
• produce a proof of correct execution of the smart contract, wherein the proof is based at least in part on the evaluation key Ek;
• generate a blockchain transaction using the output of the smart contract;
• and
• validate, by a fourth computing entity different from the first, second, and third computing entities, the generated transaction using a verification key Vk and the proof.

A non-transitory computer-readable storage medium having stored thereon executable instructions that, as a result of being executed by a processor of a computer system, cause the computer system to:

• receive a smart contract comprising a first transaction input and an evaluation key Ek provided by a first computing entity external to the processor and a second transaction input provided by a second computing entity external to the processor, the processor executing a third computing entity different form the first computing entity and the second computing entity;
• execute the smart contract by performing a computational task comprising a computation of a function on an input to the smart contract to produce an output of the smart contract;
• produce a proof of correct execution of the smart contract;
• generate a blockchain transaction using the output of the smart contract;
• and
• validate, by a fourth computing entity different from the first, second, and third computing entities, the generated transaction using a verification key Vk and the proof.