Nebulas and CertiK announced a strategic partnership. With this partnership, CertiK will provide formal verification for smart contracts and DApps developed on the Nebulas blockchain, enabling programs in the Nebulas ecosystem to be more robust and resilient to hacks.
Nebulas is a next generation public blockchain aiming for a continuously improving ecosystem. Based on its blockchain valuation mechanism, Nebulas proposes future-oriented incentive and consensus systems, and the ability to self-evolve without forking.
Meanwhile, CertiK offers a formal verification framework to mathematically prove that smart contracts and blockchain ecosystems are bug-free and hacker-resistant. The project is led by Zhong Shao, Thomas L. Kempner Professor and Department Chair of Computer Science at Yale University, and Ronghui Gu, Assistant Professor of Computer Science at Columbia University.
To make the verification process scalable, CertiK enables the decomposition of otherwise prohibitive proof-tasks into smaller and simpler ones, by using a layer-based approach. These verification tasks with smaller proof obligations can be encoded in CertiK transactions, which are then proven and validated by participants in a decentralized manner. With this, CertiK ledgers work as a certificate to ensure end-to-end correctness — verifying the security of the smart contracts and blockchains — in order to produce an entirely trustworthy and secure ecosystem.
Blockchain technology and programmable smart contracts have enormous potential to revolutionize the way business activities are conducted. However, smart contracts are open-sourced and immutable once deployed, making them vulnerable to hackers. Recent history, such as the incidents at the DAO and Mt. Gox, cautions that security must be of paramount importance in the blockchain and cryptocurrency space.
Through this partnership between Nebulas and CertiK, CertiK will help ensure that DApps and smart contracts deployed on the Nebulas blockchain are secure, reliable and resistant to potential hacks. With CertiK’s certified DApp libraries and IDE plug-ins, entrepreneurs and programmers will also get real-time, interactive feedback on code security when developing and deploying DApps and smart contracts on the Nebulas blockchain. As a result, significant time and effort previously spent on debugging and verifying the security and reliability of code can be saved.