https://www.um.edu.mt/library/oar/handle/123456789/71040 Thu, 23 Jul 2026 04:26:51 GMT 2026-07-23T04:26:51Z https://www.um.edu.mt/library/oar/handle/123456789/148127 Title: Small language models for smart contract vulnerability detection : exploring efficient fine-tuning approaches for reentrancy detection in resource-constrained environments Abstract: This dissertation investigates the application of parameter-efficient fine-tuning techniques to small language models (1-3B parameters) for detecting reentrancy vulnerabilities in Solidity smart contracts. Despite the prevalence and persistent threat of reentrancy vulnerabilities in blockchain ecosystems, existing detection approaches often require substantial computational resources or extensive manual engineering. This research demonstrates that even modest-sized models can develop meaningful security analysis capabilities when efficiently adapted through Low-Rank Adaptation (LoRA) and trained on synthetic vulnerability data. Experimental results show significant improvements in detection performance after fine-tuning, with accuracy increasing from 48% to 67% for LLaMA 3B and from 45% to 59% for Qwen2.5Coder 3B. This work establishes a foundation for resource-efficient approaches to smart contract vulnerability detection, addressing the gap between the capabilities of frontier language models and practical deployment constraints in development environments. Beyond the specific task of reentrancy detection, the methodology and findings contribute to the broader understanding of efficient language model adaptation for specialized security applications. Description: M.Sc.(Melit.) Wed, 01 Jan 2025 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/148127 2025-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/148126 Title: How do the compliance requirements for stablecoins under the EU’s MiCA regulation and Switzerland’s FINMA guidelines differ in terms of legal classification, regulatory obligations, and market impact? Abstract: This dissertation examines the regulatory approaches of Switzerland's legal framework for the cryptocurrencies and the European Union’s “Markets in Crypto- Assets” (MiCA) Regulation, with the specific focus headed on stablecoins. As a very important component of the cryptocurrency ecosystem, stablecoins aim to offer price stability and play a crucial role, creating a bridge between the digital economy (Crypto Markets) and the traditional financial system (Banking System). Although, during the recent years, their influence has increased continuously, presenting significant regulatory challenges with the necessity of having new frameworks to ensure consumer protection and financial stability. Through a comparative analysis of Switzerland’s frameworks and the new Regulation introduced in the EU (MiCA), this study explores the key provisions related to stablecoins and highlights the areas of convergence and divergences between two of the most important jurisdictions in Europe. The research delves into the regulatory objectives and mechanisms used to enforce the strategies employed by both frameworks, assessing their effectiveness in addressing the risk connected with the stablecoins. On the other hand, this dissertation examines the compliance of the most popular stablecoins such as Tether (USDT) and Tether Gold (XAUt), with MiCA and Swiss regulations, providing insights of the practical implications of these regulatory frameworks for stablecoin issuers and the market. This study highlights the complexities of cross-jurisdictional regulation in the fast- developing digital assets space. Through identification of potential areas of regulatory convergence and improvement, this research offers valuable recommendations for policy makers, regulators and industry stakeholders as well as contributes to the ongoing discourse on the regulation of cryptocurrencies, providing a well understanding of how stablecoins are regulated under different legal regimes. Description: M.Sc.(Melit.) Wed, 01 Jan 2025 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/148126 2025-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/148125 Title: European Blockchain Service Infrastructure (EBSI) and European digital identity : a public sector overreach or a valuable framework for the private sector’s next phase of digital transformation? : a critical assessment from an interdisciplinary perspective Abstract: This dissertation explores opportunities and risks associated with the European Digital Identity Framework (EUDI Framework), built upon the European Blockchain Services Infrastructure (EBSI), from perspective of the private sector’s digital transformation. The research is motivated by challenges posed by the absence of decentralized digital identities and credentials in the current Internet, forcing the private sector to utilize complex Identity and Access Management (IAM) solutions, depend on large technology corporations, and operate costly and risky processes for handling Personally Identifiable Information (PII). Through interdisciplinary mixed methods research, based on exploratory interviews and a survey among digital transformation experts, this dissertation identifies several key issues: a) Lack of awareness and knowledge about EUDI Framework and EBSI, b) Complexity of current Web 2.0-based IAM solutions and dependence on large technology corporations, c) Trust-issues regarding identities, events, and data, especially when integrating Artificial Intelligence (AI), digital twins and Internet-of-Things (IoT) devices amid growing cybersecurity demands, d) Concerns that public-sector-driven solutions may stifle innovation and increase costs. Despite these concerns, the research revealed that the EUDI Framework based on EBSI has potential to support the next phase of digital transformation, provided infrastructure and applications align with the EU’s Next Generation Internet (NGI) visions of open-source-based, privacy-respecting and globally interoperable solutions. While moving from beta-testing and piloting closer to rolling-out EUDI Wallets, signs of disillusionment are noticed, raising questions about the commitment to SSI and blockchain, particularly as federated identity solutions gain renewed interest. In parallel, the ongoing rebranding of EBSI to ‘Europeum’ and its transition from management by EBP to an ‘Europeum EDIC’, adds to uncertainties about future direction and funding, potentially having negative impact on private sector engagement. This dissertation closes with research ideas and recommendations addressing some of these challenges. Description: M.Sc.(Melit.) Wed, 01 Jan 2025 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/148125 2025-01-01T00:00:00Z https://www.um.edu.mt/library/oar/handle/123456789/148124 Title: DAO grant programs : governance approaches and decision-making Abstract: This study investigates the governance and decision-making challenges in decentralised autonomous organisation (DAO) grant programs, focusing on selection methods for grant reviewers and the broader decision-making processes within DAO ecosystems. DAOs operate without traditional hierarchical structures, and their community-driven approach to grant allocation poses unique governance challenges, especially in terms of accountability, transparency, and effective fund distribution. This study explores how DAOs can adopt best practices from traditional governance systems such as the public, private, and cooperative sectors, while embracing innovative decentralised solutions to enhance grant program efficacy. The research draws on qualitative data from web-based questionnaires distributed to current and former DAO grant reviewers, advisors, and program managers, aiming to identify strategies that DAOs can leverage to refine their grant processes. Findings reveal that appointing grant reviewers provide stability in early stages, while elections enhance inclusivity in mature programs but may introduce popularity biases. A hybrid model combining both was deemed the most balanced, with delegates playing a positive yet sometimes overly influential role. While structured rubrics support consistency in grant evaluations, their rigidity may hinder innovation. Issues around confidentiality, preparation, and KPI in applications highlight the need for structured oversight, conflict of interest policies and increased transparency. Traditional governance models contribute valuable insights, such as robust documentation and conflict resolution mechanisms, which can enhance DAO accountability and sustainability. The study recommends a hybrid reviewer model blending expertise with community representation, shielded-ranked voting for fairer elections, and voter fatigue mitigation. Further recommendations include adopting flexible rubrics, leveraging emerging tools, and instituting post-mortem evaluation after each funding cycle. This research underscores how DAOs can strengthen their governance frameworks by combining decentralised innovations with traditional governance practices, ultimately supporting more effective and sustainable grant management in the evolving digital landscape. Description: M.Sc.(Melit.) Wed, 01 Jan 2025 00:00:00 GMT https://www.um.edu.mt/library/oar/handle/123456789/148124 2025-01-01T00:00:00Z