CertiK : Building Fully Trustworthy Smart Contracts and Blockchain Ecosystems

in #ico3 years ago (edited)

maxresdefault.jpg


Table of contents

  1. Introduction : What is CertiK and why this project is highly needed in the cryptocurrency space

  2. Team, Partnerships and Funds

  3. Usage

  4. Competition and Development Roadmap

  5. Conclusion

  6. Useful links


meme.jpg

BaraGalbena.png

1. Introduction


What is Certik ?


An awesome short presentation video

CertiK is a formal verification framework to mathematically prove that smart contracts and blockchain ecosystems are bug-free and hacker-resistant. To scale the verification, CertiK developed a layer-based approach to decompose such an otherwise prohibitive proof task into smaller ones. These smaller proof obligations can be encoded in the CertiK transactions and will then be proved and validated by the participants in a decentralized style. Thus, the CertiK ledgers work as certificates to exhibit the end-to-end correctness and security of the verified smart contracts and verified blockchain ecosystems, making them entirely trustworthy.
The CertiK team consists of world-class formal verification experts who are professors from Yale University and Columbia University, as well as senior software engineers from Google, Facebook, and FreeWheel.

Details:
Token Symbol: CTK
Crowdsale Token Price: TBA
Hard Cap: TBA
Total Tokens for Sale: 100,000,000
Crowdsale Date: TBA

The upcoming short video briefly explains how CertiK works. They even have demo video, which you will find later in this article.


Why is CertiK highly needed in the cryptocurrency space ?


As we know the blockchain is vulnerable, we are seeing more and more hackers targeting the cryptocurrency space. Further growth will only bring more exposure. There have been a lot of funds stolen and people lost entire fortunes. Yes, I know, investment is risky ! But why not make the space safer ? This way more people will gain the trust needed to invest in this new technological revolution, that is currently taking place in front of our eyes.

Let's start with how the cryptocurrency space evolved lately :

blockchain.jpg

Blockchain implementations are error-prone : Ethereum virtual machine implementation has 703 open issues and 2186 closed issues (1/15/2018).

Smart contracts are open-sourced to hackers and immutable once deployed : TheDAO - 1 bug, 50$ million lost, fixed by hard fork.

Only in 2017 630 million $ have been lost to hackers in 12/2017.

This year we saw the Bancor issue that led to millions of funds lost. Certik could have helped warn Bancor and prevent this.

You can see how CertiK could have helped Bancor here

On June 16th 2018, a bug occurred in the ICON smart contract, this error was exploited by malicious actors to affect the functionality of the network. The bug couldn't be used for stealing tokens. Yet, Certik could help ICON fix the detect ICX EnableTokenTransfer Issue. I think they already did and are planning a lot of things together, because they just announced they partnership with ICON. You can see more about the issue here

BaraGalbena.png

2. Team, Partnerships and Funds


CertiK Team Leaders

teamleaders1.jpg

Partnerships and Funds

CertiK has just started to announce their partnerships 1 month ago. The list of partners released one by one confirms that this project is not to be taken lightly, as it can be a game-changer. And I have a feeling that the list of partners is not yet complete. You can check their tweets to see what are their current partnerships and also for checking the upcoming ones. I have left all the useful links at the end of the article.

partnershipsandfundsupdated.jpg

BaraGalbena.png

3. Usage

The Foundation behind the project has developed a one-stop solution, called the CertiK Platform, which provides a powerful and efficient set of Certified Kits for building fully trustworthy blockchain ecosystems. The Platform is comprised of:

  • Smart labelling :

The CertiK Platform has designed a labeling approach in order to specify dApps/systems. These labels are expressive enough to formally state the desired properties and are compatible with existing programming languages such as Solidity. Also, via the utilization of deep learning techniques with a manually established labelled code base for training, the CertiK Platform intends to introduce a smart labelling framework, to help understand decentralized programs at both the syntax and semantics levels, and then automatically add proper labels to the source code.

  • Layer-based decomposition :

The CertiK team is striving to achieve modular verification by realizing a named layered deep specification concept. This technique uncovers the insights of layered design patterns and makes it possible to break down a complex proof task into smaller ones, and verify each of them at their proper abstraction level.

  • Pluggable proof engine:

The smaller proof obligations are easier to untangle and can be solved by some automatic verifiers such as SMT solvers. To enable extensibility, the CertiK Platform is intended to provide an open protocol whereby significantly more advanced solving algorithms can be freely plugged into this system.

  • Machine-checkable proof objects :

The CertiK Platform constructs mechanized proof objects (or counterexamples) in such a way that these proofs can be quickly checked by anyone using their own machine. These proof objects can be viewed as the “certificates” to the verified programs.

  • Certified dApp libraries :

The CertiK Platform also offers a series of certified libraries and plug-ins to the integrated development environment (IDE) for building more trustworthy dApps. These libraries help improve the code quality and reliability of the entire blockchain community, and the use of these tools will cost a small amount of CTK as virtual crypto “fuel”.

  • Customized certification services :

For dApps/systems with high reliability requirements, such as digital wallets, the CertiK Platform intends to provide customized certification services. In such cases, verification experts will help specify/verify the programs and generate a detailed, comprehensive report.

usage.png

CertiK system mainly involves 5 parties with each individual being assigned different tasks and roles to complete the system.

  • Customers  :  will be code developers or automatic programs that send codes to the system. The sent codes are called “Proof objects” and must be sent along with CertiK tokens (CTK) as a reward.

  • Bounty hunters  :  their tasks are to allocate computing resources to the system as well as to receive proof objects and to broadcast the works within the system. They are entitled to be rewarded with CTK tokens sent by the customers. To be qualified in this role, a certain party must possess a high number of CTK tokens as required by the system.

  • Checkers  : their responsibilities are to record transactions or verify proof objects submitted by bounty hunters. Bounty hunters will receive the tokens when the checkers confirm the proof objects. Upon confirmation, the checkers will be rewarded with some CTKs.

  • Sages :   will be connectors of proof engine to CertiK system. The proof engine is an algorithm deployed to find bugs in smart contracts. Sages will be rewarded based on performance of their engines. The bounty hunters will be users of proof engines

  • Users  :  this is suitable for developers who can link library of CertiK to IDE in order to create DApp. Users must pay expenses in CTKs. Users can subscribe to all CertiK Platform’s certified libraries and IDE plug-ins to build their own DApps/systems with some CTKs


These five roles will help to maintain the stability and sustainability of the CertiK ecosystem and can also lead to a natural growth in the importance and value of the CTK token.

CertiK makes use of its native CTK token which is used as a digital fuel across the platform. CTK is a non-refundable functional utility ‘fuel’ which will be used as the unit of exchange between participants on the CertiK Platform. CTK is also used in economic incentives which encourage participants to both contribute and maintain the ecosystem on the CertiK Platform. CTK acts as an integral part of the CertiK Platform, and provides a common unit of exchange that reward users and helps to keep the platform sustainable.

BaraGalbena.png

4. Competition and Development Roadmap

CertiK competitors are Quantstamp and Zeppelin.

Quantstamp system is based on manual checking. Altough Quantstamp has also planned to have automatic checking, according to CertiK's roadmap, they will be the first to launch the full system. Quantstamp's traditional system requires a large ammount of human effort in order to review the source code and manually write the specification.

Zeppelin uses the same manual checking system. Another negative aspect is that the libraries provided by them are either not verified or do not offer mechanized proof of objects.

The manual code review is inefficient, non scalable, takes a long time, and more importantly not so secure.

Development Roadmap

roadmap.png

BaraGalbena.png

5. Conclusion

CertiK is a very interesting project because blockchain security is still a growing major problem. Smart contracts are very vulnerable and can create huge problems if the code isn't good. Investors need a safe environment in order to be able to trust projects with their money. Good security can also make institutional investors more likely to support the cryptocurrency space.

There's not to much competition in this field. If CertiK is able to deliver according to their roadmap, the project will certainly be a success. Taking in consideration their partnerships, I think that's inevitable.

CertiK is a real game changer and it's one of my top 3 upcoming favorite projects.

For a quick demo about code verification, please watch this video :

BaraGalbena.png

6. Useful links

websitefinal.png Website

telegramfinal.png Telegram Public Group

telegramfinal.png Telegram Announcement

whitepaperfinal.png Whitepaper

twitterfinal.png Twitter

medium final.png Medium

youtube.png Youtube

redditfinal.png Reddit

More reads on CertiK :

https://medium.com/certik/certik-unveiled-ecosystem-d5e93bd6b35d

https://medium.com/certik/certik-in-press-an-article-from-forbes-9f4dcc1a8b5b

https://medium.com/certik/how-certik-could-help-warn-bancor-issue-that-led-to-millions-of-funds-lost-e20f316d9482

https://medium.com/certik/how-certik-formal-verification-engine-could-help-icon-detect-icx-enabletokentransfer-issue-fd83539190d8

f9336c668b84ea917a64ed1093a73a0e.png

BaraGalbena.png

Keep your coins safe from hackers ! Buy a ledger hardware wallet :

ledgerwallet.png

Recommended exchanges :

www.binance.com

Untitled-2.jpg

www.huobi.pro


huobi.png


Use your money the right away. Receive better value on post promotion services and bid bots with :

MinnowBooster


minnowbooster.png

SmartSteem

Untitled-3.jpg


Follow me on twitter and turn on notifications : twitterr.png


steemufc1.gif

BaraGalbena.png

Sort:  

Infinite / open-programmable "smart contracts" offered by Turing-complete languages isn't the way to go for decentralized networks. I'd personally becareful of all the craziness that has been going on.

I agree. To many projects out there with no utility whatsoever, to many smartcontracts. The space is evolving tough. There are also positives. There are a lot of projects with utility and there are also a lot of projects with no utility. The ones with no utility will be wiped out eventually and we will see a more safer space for investors. I also think CertiK will bring more security to the good projects out there and we can finally see some trust in the cryptocurrency space. I have no experience in coding, but it seems that you have btw you are talking, so you probably know a lot about the stuff that is going on out there. We will need to wait and see how this will turnaround.

Trust and Turing-complete smart contracts are a contradiction, but this is a very deviant opinion in the scene atm. Just putting it out there! All the best :)

Thanks for the info, will check on that subject. All the best also :)

hey great post , im studying cyber security rite now so im really want to see what opportunity are available to work with this project

Glad to hear that it helped. I left all the useful links at the bottom of the article. You can contact them and find out more about what interests you. Hope you can find what you need. Good luck

Coins mentioned in post:

CoinPrice (USD)📈 24h📈 7d
BNTBancor2.272$1.29%3.95%
ETHEthereum470.027$1.28%3.82%
ICXICON1.301$1.39%-2.22%
QSPQuantstamp0.069$4.67%2.65%
SMTSmartMesh0.034$2.93%-3.13%


Litecoin should be on this list. EVERY LIST!!!! (No but seriously, it's cool if you want to promote smaller projects).

ETN will be listed or not

Great article

Certik is a very futuristic technology that can be a major player in the crypto market.With each passing day we can be more and more sure about. If it is able to check that the system is bug free then it will Surely be of great benifit to everyone.

Upvoted, Re-Steemed, and Following!

Sir your blog is very nice i like your post good info

is this legit investment ?

As legit as it gets. I do a lot of research before writing about projects and also have a very good understanding of the ICO space. If you still have doubts please see other articles from well known sources.

Never rely on the only source of income. Create another source through investment.

nice work hoping for more improvements

Is there any airdrop program planned br certik?
Anyone.

Not from what I am aware of. They do have a contest campaign of artwork. The prizes are getting on their whitelists to be able to invest in their project in the ICO stage. Top tier projects are hard to get in the ICO stage. Check their twitter.

expecting the experience will create some user friendly and user protecting technology and eliminate the risk of hacking from crypto user mind , competition would be the challenge , but unique & timely service availability will help to make difference ....keep building the smart solution

certik and blockchain is the technology of modern world which play very important role in the crypto market.

following! great piece, love CertiK think it's going to be a biggie for 2018.

I am also having the same feeling based on some strong factors that I have researched. It's one of my top 3 favorite upcoming projects. Let's see what happens.

Nice content bro I am following you

Cool ICO. I liked it too.

good article. Thanks

you are doing really a good job
technology can change the world
cryptocurrency is unstoppable

Nowadays , cryptocurrency is unstopable.
Your way of Explanation is great

I believe it is and it will change our way of life in the upcoming year.

Thanks for the kind words, trying to put together the information so the reader has an easy time and enjoy it.

this task is done by many others on the past to get smart contract on block chain , but only few are successful , its good start from certik , lets see where we reach , i am with you certik

Upvote my comments and reply

Nice blog sir And your info is very helpful to me

Is it profitable and safe to invest in it and when is the time to invest in it?

You need to decide for yourself from the info that I've offered. Remember that no one can make a better decision with your money, except yourself. Stay safe in this space. Inform yourself very good before you invest in a project. The time to invest in a startup project it's in it's early stage (pre-sale, crowdsale) or at price correction after exchange listing from my personal experience.

Thanku sir i really appreciate your help!

Very real very important ,and genuine information solving post
.every one need to be interested about the posts like that..it's just like an infinite program which is goes with all of the types or network community or group.

Very good concept . If everyone invest your money in correct way, it return a big

Awesome project. We need more projects like this to help the whole blockchain ecosystem mature. Then we will see money flowing in like never before.

We sure do. Tired of bad actors delaying the inevitable success of this space. Like you said, once security is in place and the whole blockchain system matures, a lot of people will want to invest.

Very interesting! Reblogged and followed :)

this will be a big help in crypto space,rest assured for the contract who is a bit buggy

This information is true key safe we all have to know about it another websites it this type of contents cannot be posted don't know why there is some stupidity there the posted their travelling places opinions about other topics just post selfies just like we also on social media website but this is also a social media website but here I find some pose there are very useful very creative and motivating and this is one of them so very appreciating very motivated. Just keep up the good work and keep posting and keep the hard work for steemit all the very best

I liked your post, I have to learn something from your post.

Your Blog Is Good Awsome Good information Sharing @rabiagilani I am New User On Steemit
I Am best upvote Comments And Resteem Follow Me Follow back And Plz Help My Rep very Low Upvote me

Posted using Partiko Android

I follow you mam now follow me
I also i five you upvote

Good post!!!
👍👍👍

Sehr guter und sorgfältig recherchierter Beitrag, weiter so

Congratulations @equ1l1br1um! You have received a personal award!

1 Year on Steemit
Click on the badge to view your Board of Honor.

Do not miss the last post from @steemitboard:

Trick or Treat - Publish your scariest halloween story and win a new badge
SteemitBoard notifications improved

Support SteemitBoard's project! Vote for its witness and get one more award!

cool post. Thanks

you are the best when you want to visit me and make a vote everyone is invited

You got a 33.55% upvote from @postpromoter courtesy of @equ1l1br1um!

Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!

If possible please upvote or promote my steemit posts...

Wow nice concepts sir and thank you for sharing your concepts (knowledge) with us

great job keep doing

I am from Indonesia follow me, I have the best news for you all and other interesting conten

I would like to learn more about this new crypto.....follow me please.

is good your post, do you know about cryptominingfarm you can invest there, cheer up!

I following you

I gave you an upvote on your post! Please give me a upvote(to this link https://steemit.com/@hammad97) & follow.
I will give you a follow in return and possible future votes!

I also agree that electronic money can not be trusted may be hacked

Dear I up-vote you and follow also same as Expected with you.

Great info, thanks!
JingStock

I upvoted u plz up vote my post...

Your post is always good...........You will continue to have such a good post
steemit is a platform where everyone works together and achieves success

Congratulations @equ1l1br1um! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!

Do you know Uchain project? UChain would building the next generation Blockchain for the Sharing Economy https://medium.com/@LindaCrypto/uchain-building-the-next-generation-blockchain-for-the-sharing-economy-be8cec8a92d4

Hello that....

i like your post

Didn't understand this post..