A unique risk verification of smart contract developed by Fujitsu

Smart contracts can be automatically checked for vulnerabilities and point to the piece of the corresponding source code
07 March 2018   152

Fujitsu Laboratories Ltd. and Fujitsu Research and Development Center Co., Ltd. today announced the result of its development process. The technology aims to identify vulnerabilities in smart contracts. The precursor of such technology is a special set of algorithms that identify risk-affected transaction sequences on Ethereum. With the aid of the algorithms 6 kinds of risks can be detected and neutralized thus greatly enhancing the development experience.

Those 6 threats go as follows: re-entrancy, authenticating the source of the transaction call, transaction uncertainty due to reliance on timestamp, transaction order transparency, divide by zero and call stack restrictions. Notably, authenticating the source of the transaction call and divide by zero were added as the direct result of the technology. The technology of detection includes virtual execution of transactions under different circumstances, comparison with code patterns of Ethereum that have fraudulent behaviour and checking whether access to transaction records of blockchain is granted or not.

Regarding the performance results, it is reported that while existing verification tools have 67% detection rate, Fujitsu technology had around 88~100%. The technology should contribute to the efficient application of blockchain technology into different areas. Lastly, Fujitsu plans to develop similar verification toolset for Hyperledger Fabric and methods of building secure systems via blockchain.

Monetha is about to release first version of its wallet app

Monetha's MVP to be released on March 21 exclusively for MTH holders in order to make a significant step towards fully working decentralized trust and reputation system
23 March 2018   72

Starting from March 31 all of MTH token holders will gain exclusive access to Monetha wallet app - the MVP of the project. The release is considered to be Beta release, and approximately 10,500 of the users of the platform will become the first to test out the product. The app will be available on both iOS and Android.

The wallet itself is based on smart contracts and features

  • making/solving claims;
  • rating merchants;
  • writing reviews;
  • review of purchase history;
  • see clients' and merchants' trust ratings

The integration with Monetha through the app will allow merchants to accept Ethereum based tokens as a payment and then easily convert cryptocurrency into fiat currency. Monetha's mission is 'to develop and deploy the best transaction system that would be based on enforceable contracts without third party between consumer and merchants and a strong decentralised reputation management system'. Its solution is going to be universal, transparent, self-executing and transferable.

To the moment of the publication, Monetha's market parameters are as follows:

Average price: $0.102597

Market cap: $22,274,083

Volume (24): $435,208