Formal Verso

CHALLENGE: Smart Contract Vulnerabilities Cost Billions

The blockchain ecosystem has been plagued by security vulnerabilities in recent years, with smart contracts being a prime target for attacks. Every year, billions of dollars worth of digital currencies are lost as hackers exploit even the tiniest of flaws and corner cases hidden deep in the code. Traditional testing methods and auditing tools have proven inadequate, failing to detect exploitable bugs time and time again, resulting in substantial financial losses and diminished trust in blockchain technologies.

SOLUTION: Formal Verification for Smart Contracts

Galois’s Formal Verso is a Rust front end built on top of our Software Analysis Workbench (SAW), which leverages the power of formal verification to mathematically prove the absence of vulnerabilities in software, covering all possible execution paths, and ensuring that programs behave exactly as intended. 

Over the years, Galois has put SAW to work in national security, fintech, and cloud computing applications (including verifying AWS’s cryptographic library) to keep citizens, systems, and data safe; secure financial transactions, and protect the privacy of millions of people across the globe. Now, with Formal Verso, Galois builds upon its established expertise and brings formal verification to the world of smart contracts.

This groundbreaking tool not only roots out vulnerabilities that are difficult or impossible for traditional testing to catch, but also holds the potential for adaptation across various programming languages, offering a potentially universal solution for securing blockchain technology at large – future-proofing smart contracts against hacks and safeguarding billions in digital currency.

VALUE ADD

• Unparalleled Security Assurance: Formal Verso offers an unmatched level of security, effectively eliminating entire classes of errors and vulnerabilities for smart contracts written in Rust.
• Financial Protection: Formal Verso significantly reduces the risk of costly exploits, protecting financial assets within the blockchain infrastructure.
• Restoration of Trust: By ensuring the integrity of smart contracts, Formal Verso restores confidence in blockchain technology as a secure platform for transactions and investments.
• Future-Proofing the Blockchain: Though currently tuned to verify only smart contracts written in Rust, Formal Verso’s adaptability to various programming languages mean that it holds the potential to secure the broader blockchain ecosystem against future exploits.