  This paper presents EDSC, a novel smart contract platform design based on the
event-driven execution model as opposed to the traditionally employed
transaction-driven execution model. We reason that such a design is a better
fit for many emerging smart contract applications and is better positioned to
address the scalability and performance challenges plaguing the smart contract
ecosystem. We propose EDSC's design under the Ethereum framework, and the
design can be easily adapted for other existing smart contract platforms. We
have conducted implementation using Ethereum client and experiments where
performance modeling results show on average 2.2 to 4.6 times reduced total
latency of event triggered smart contracts, which demonstrates its
effectiveness for supporting contracts that demand timely execution based on
events. In addition, we discuss example use cases to demonstrate the design's
utility and comment on its potential security dynamics.
