01 August 2018

NEO And Certik Partnership – Promoting A Highly Secure Smart Economy

NEO Takes Its Security Very Seriously!

In recent times the security of blockchain(s) has become something of paramount importance especially now that cryptocurrencies are generally becoming more acceptable as digital assets. NEO blockchain which is reputed as having a community with the largest number of developers, has taken the security of its network as an absolute priority.

In its effort to further boost the security of its network, NEO has entered into a strategic alliance with a blockchain security auditor known as CertiK. The partnership was announced this week and CertiK is best known as a “formal verification” platform for both blockchain ecosystems and smart contracts.

What The Partnership Entails

The strategic partnership between NEO and CertiK will involve the following;

  • CertiK will engage in the “formal verification” of smart contracts under the NEO blockchain.
  • CertiK will also provide customisable solutions for the “formal verification” of both the digital identity and digital assets of NEO.   
  • The strategic alliance between NEO and CertiK will be the precursor for the start of a truly smart economy.

What Is “Formal Verification”?

In a case where a logical language is utilised in the description of a certain specification, CertiK will deploy a complex mathematical formula to verify if a particular system code will be best suited for the specification described.

It is the “formal verification” mechanism that mathematically ascertains that both the blockchain ecosystem and smart contracts are free from bugs and the threat of cyber criminals such as hackers.

At this point in time, individuals are responsible for the development of a majority of the decentralised applications (dApps) as well as smart contracts that are available on the NEO blockchain. In order to eradicate any likely defect in smart contracts and dApps during their developmental phase, the “formal verification” offered by CertiK will prove to be a vital piece of the enhanced security puzzle.

Meet CertiK’s Core Team

CertiK is a company that has its core team members based in both Silicon Valley and New York. The CertiK core team comprises of Co-founders Prof. Shao Zhong and Prof. Gu Ronghui. Prof. Shao Zhong is currently the Chair of Computer Science at Yale University and a Professor at Thomas L. Kempner. He has over 30 years experience in the field of security and along with Prof. Gu Ronghui of Columbia University, they formed the core technology of CertiK.

CertiK’s core team created “CertiKOS” which is the first ever operating system (OS) that has been theoretically verified to offer significant resistance to attacks from cybercriminals such as hackers. It is curently being utilised in a wide variety of fields that include the military and government.

In Closing

On a final note, the manager of NEO Global Development (NGD), Zhao Chen stated that “NEO is a high-speed autonomous public chain. With more developers building layers on top of it, this added security layer will expedite the prosperity of the ecosystem. I believe NEO and CertiK’s partnership is on track to changing the course of history.”

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