Formal Verification of Ethereum Smart Contracts

New automated security verifier for Ethereum has been released
07 July 2017   1890
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

Switzerland based Software Reliability Lab developing automated analysis and synthesis techniques for smart contracts has launched the first automated system for formal verification of smart contracts - Securify.

Securify verifier for Ethereum Securify verifier for Ethereum

The main advantages of Securify over other solutions is that it provides:

  • Automation, to enable all users to verify contracts
  • Guarantees, to avoid reporting vulnerable contracts are safe
  • Extensibility, to capture new security vulnerability that are regularly discovered

Securify is capable to pinpoint the instructions that may cause security issues and therefore provides practical and useful guidelines to contract developers.

Ethereum

Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements 

As the developers argue, existing solutions based on executing the contract "check only a subset of the possible paths and can therefore miss critical security problems. Further, approaches based on interactive-theorem provers can provide strong guarantees, for all paths, but they cannot be easily automated or easily extended. In contrast, Securify combines the best of both worlds: it analyzes all paths while being fully automated".

Securify verifier for Ethereum in working process  Securify verifier in working process 

The brand new verifier has already received positive feedback in social media. Sergio Demian Lerner, cryptocurrency security consultant from the first open-source smart contract platform RSK, shared on Twitter:

Pilot customer access to Securify has been already offered to users. It's also possible to sign up for the full release of Securify and future updates

Raven Protocol to be the First IDO at Binance DEX

Team cannot say exactly how IEO will pass, since similar campaigns hadn't been concluded at Binance DEX before, but they are going to sell $500k worth tokens
14 June 2019   332

The Raven Protocol cryptocurrency project announced about the planned initial exchange offering (IEO), which will be based on the infrastructure of the Binance DEX exchange - in this case the campaign will be called IDO or Initial Dex Offering.

Raven Protocol confirmed the right to list its token on Binance DEX paired with BNB on June 17 at 9:00 UTC. At the same time, the IDO of RAVEN tokens will start. The project draws attention to the fact that neither Binance, nor Binance Chain, nor Binance DEX stand behind this initiative.

At the same time, Raven Protocol notes that it cannot say how exactly IEO will pass, since with Binance DEX, similar campaigns have not been conducted before.

Potential participants need to pass a preliminary identification by sending to the address of founders@ravenprotocol.com their address in the Binance Chain, an identity document, a selfie and proof of residence.

In total, Raven Protocol expects to raise $ 500,000 by selling 3% of its own token emission (300,000,000 RAVEN). Accommodation will be on a first come, first served basis. The limit on the amount of investment for one user is declared at the level of 100 BNB.