Founded in Silicon Valley & NYC, CertiK is a formal verification framework for building fully trustworthy smart contracts and blockchain ecosystems.
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.
Blockchain technologies provide a globally consistent ledger that does not rely on a centralized trusted authority. Consensus mechanisms such as Proof-of-Work (POW) or Proof-of-Stake (POS) set up theoretically unaffordable computational costs to prevent false transactions. As a result, the ledgers appear to be “trustable” and therefore, smart contracts and various decentralized applications (dApps) can be stored on the ledgers and form part of the blockchain ecosystems, whose source codes are entirely “transparent”.
However, blockchain ecosystems are not truly trustable. Due to their transparent policy and the potential benefits of performing a successful attack, these ecosystems are highly sensitive to attacks and are far more vulnerable than previously expected.
The CertiK platform aims to develop a formal verification framework for building fully trustworthy smart contacts and blockchain ecosystems. CertiK plans to differentiate itself by using alternative methods of bug detection approaches, and the CertiK platform mathematically proves that blockchain ecosystems are bug-free. The Foundation behind the project has developed modular verification techniques to break down the formidable proof task into smaller ones, that can subsequently be solved automatically in a more decentralized way. The various proof objects can be built and encoded into the CertiK platform’s transactions and then be validated by other participants. As a result, the CertiK platform’s blockchain is intended to work as certificates to exhibit the end-to-end veracity and security of the smart contracts, dApp libraries, and the blockchain implementations, and operate as a certified blockchain ecosystem.