Chengdu LianAn Technology’s Ethereum Trial Version of its All New Smart Contract Formal Verification Platform VaaS is Now Online
Smart contracts serve as the core of the Ethereum ecosystem and has had rapid development throughout the past years. The earliest smart contract can be dated back to 1995, it was first mentioned by cryptologist Nick Szabo. Smart contract has a clear advantage when used intransactions that are complex and involves multiple parties.
However, with smart contract security problems becoming more frequent, it is evident that smart contract also has its disadvantages, including its incapability to control tangible assets, nor can it secure contract execution for tangible assets; it is also difficult to guarantee that the smart contract is executed exactly like how the designer intends it to with no vulnerability.
Problem caused by these vulnerabilities, made the market value of known projects like The DAO, Parity Multi-signature Wallet, BEC evaporate in one night. These problems may easily result in severe problems including the loss of cryptocurrencies, breaking financial order, etc. According to statistics, losses due to security vulnerabilities within smart contract itself make up over 30% of the total losses in the blockchain security industry.
Auditing and verifying smart contract codes is extremely important. Only when smart contract codes are audited and code security is ensured, then smart contracts can play its corresponding role in its future execution and truly avoid risks as well as financial losses that are caused by vulnerabilities in the source code of the contract. However, in the current market, experts have yet to see an effective way to verify and audit smart contracts.
Aimed to solve the security problem in smart contracts, Chengdu LianAn Technology (AKA Beosin) has launched its all new “One-Button” Automated Smart Contract Formal Verification Platform VaaS (you can find the free and simplified version online tailored specifically for Ethereum contracts at: http://www.lianantech.com).
LianAn spent over 1 year in developing the VaaS tool, which uses formal verification as its core technology. VaaS is the first smart contract auditing tool that is developed to support multiple blockchain platforms including (but not limited to) Ethereum, EOS, Fabric, with an accuracy rate of 95%. This makes Chengdu LianAn Technology the first company to utilize formal verification technology in the blockchain security field.
It is worth mentioning that compared to semi-automated smart contract formal verification, the VaaS platform’s “One-Button” formal verification tool not only can find smart contract vulnerabilities in 10 different macro categories and 27 micro categories in an automated, fast, high accuracy manner, it can also accurately locate risky codes and point out cause of the risks. Through the auditing process, VaaS can effectively verify common security vulnerabilities, security attributes, and functional correctness of a smart contract.
In order to contribute to the blockchain ecosystem, Chengdu LianAn Technology decides to globally publish its simplified version of VaaS tool for Ethereum contracts, allowing fellow blockchain enthusiasts to experience the “One-Button” smart contract verification tool, audit their own smart contracts, and preventing smart contract security problems in advance.
The three main types of service provided via the VaaS platform can be categorized as the following:
l Providing free smart contract security audit via the free VaaS-ETH trial tool
l Providing free Smart Contract Audit report search feature for project partners, partners
l Providing smart contract auditing services for clients, after the auditing process, LianAn will provide a Smart Contract Audit Report accepted by common well-known exchanges across the globe
1. Providing free smart contract security audit via the free VaaS-ETH trial tool
On the VaaS-ETH trial tool webpage, smart contract developers can upload their smart contract code for quick verification. The VaaS-ETH platform “One-Button” automated common vulnerability verification tool can locate smart contract security problems in a quick, accurate manner, truly provide developers with a high efficiency, simple, standardized auditing process.
Note that the verification results are only used as suggestions and is by no means a full audit report. If a full audit report is needed, please contact LianAn via our online business contact for a professionalized audit.
After using the “One-Button” smart contract security verification via our trial VaaS-ETH tool, users can go to “My Contracts” to check the verification results.
2. Providing free Smart Contract Audit report search feature for project partners, partners
In order to let partner project initiators look up their security audit report provided by LianAn, partners can look up their Smart Contract Security Audit Report free via the VaaS platform report search feature. Project partners can access their Smart Contract Security Audit Reports by entering the audit report number and main contract name or contract address link on the report search webpage.
3. Providing smart contract auditing services for clients, after the auditing process, LianAn will provide a Smart Contract Audit Report accepted by common well-known exchanges across the globe
The VaaS-ETH trial version not only can provide smart contract verification service for smart contract developers, it can also provide the most advanced smart contract security verification service within the blockchain security industry for blockchain clients. Helping clients locate security vulnerabilities, point out cause of vulnerabilities, encourage clients to fix the code before the blockchain is launched online. After the professional audit, LianAn will provide clients with a professional smart contract audit report that is accepted by all common exchange platforms.
The latter service mentioned above are only available for paid projects, the report will mention the target smart contract’s potential vulnerabilities, location of these vulnerabilities, and cause of these vulnerabilities. Providing clients with reliable and secured auditing service.
In order to improve user experience and save time for clients, the VaaS platform supports multiple spoken languages including English, Chinese, Korean, etc. At the same time, LianAn provides an online customer service system. If users encounter problems and/or seek partnership relationship with LianAn, they can always look toward the online customer service system.
Besides the trail version of VaaS — ETH which has been released globally for free audit service, Chengdu LianAn (AKA Beosin) has also built a service system serving the purpose of constructing security ecosystem including services like Wallet Development & Wallet Security Audit, Customized VaaS Platform Development, Secure DApp Development, Smart Contract Development & Audit All-in-One Service, and Security Inspection for Exchanges & Blockchain Platforms.
If you have further questions about VaaS — ETH simplified, please visit our official website: http://www.lianantech.com
About Chengdu LianAn
Chengdu LianAn Technology Co. Ltd. is headquartered in Chengdu and focuses on blockchain security field.Founded by Prof. Xia Yang and Prof. Wensheng Guo of UESTC, Chengdu LianAn’s core team consists of 40 associate professors, doctors, and postdoctoral fellows with experience studying overseas and leading universities as well as laboratories industry elites from Alibaba, Huawei, and other known enterprises. Using formal verification as its core technology, the team has been providing years of services for security-critical systems in aerospace, military and other fields. Chengdu LianAn Technology is the first company in China that applies formal verification technology to blockchain security field.
Chengdu LianAn Technology has received 2 rounds of strategic equity investment from Fenbushi Capital and other known venture capitals while building strategic partnerships with over 40 renowned blockchain companies such as Huobi, OKEx, Kucoin, LBank, CoinBene, CoinMex, CoinTiger, ONT, Scry, Qtum, QuarkChain, Wanchain, IoTeX, Bytom, Bubi Blockchain, YUNPHANT, etc.
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