Recycling Smart Contracts: Compression of the Ethereum Blockchain

In this work we propose a compression method for smart contracts deployed in the Ethereum blockchain. By taking advantage of the repetition of sections of bytecode among multiple smart contracts previously deployed in the Ethereum blockchain we propose a new pseudo opcode that acts as a pointer that will allow smart contracts to reuse previously deployed code. We show that our proposed algorithm achieves space savings of up to 75\% in a dataset of deployed Ethereum smart contracts bytecode, on par with other state of the art compression algorithms while remaining compatible with other methods currently in use for space reduction.