Financial Cryptography and Data Security: Distributed and Adversarial Resistant Workflow Execution on the Algorand Blockchain

This paper shares a translation from the Dynamic Condition Response (DCR) process modelling language to the Transaction Execution Approval Language (TEAL) used by the Algorand blockchain. According to the authors, "Compared to earlier implementations of business process notations on blockchains, particularly Ethereum, the present implementation is four orders of magnitude cheaper." Other aspects of the paper include that Algorand allows for decentralised execution of business processes, especially in the absence of intermediaries like lawyers or brokers. It also notes despite the "strict limitations on Algorand smart contracts, they are powerful enough to encode models of a modern process notation."

To read in full, click here.