Formal Verification Will Reduce Errors

Stratis’ Jordan Andrews is confident that increased adoption of formal verification will make smart contracts less vulnerable: “I think the ecosystem for both [Stratis] and Solidity is going to see so many improvements. One thing that comes up a lot now is formal verification, the idea that you can verify that a contract is going to behave. This is obviously a big thing…Stratis are gonna have the potential to do that, and I know that they’re looking into it with Ethereum as well.”

The Billion-Dollar Quest to Eliminate Smart Contract BugsAs blockchain technology permeates every industry, the role smart contracts play in executing decisions will increase dramatically. In the process, computer code will go from controlling hundreds of millions to billions of dollars of digital assets. Eliminating bugs is essential if smart contracts are to become a part of everyday business. Before that happens, costly errors caused by further flaws are inevitable. Ethereum’s smart contract bugs are already out there. It’s just a case of who finds them first: whitehat or black.