Formal Verification of Ethereum Smart Contracts

New automated security verifier for Ethereum has been released
07 July 2017   1232
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

Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   109

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.