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NEO Partnership With CertiK to Security of Smart Contracts

On 1st August 2018, NEO, a blockchain platform, made an announcement about its partnership with CertiK, a security auditor, in order to intensify the security and verification of smart contracts for the NEO’s platform.

NEO’s tweet || Source: Twitter

CertiK is a formal verification platform for smart contracts and blockchain ecosystems which was founded by elites of Yale and Columbia University. It is the world’s first operating system which is resistant to hacker attacks and is being used in several fields including government and military systems. The collaboration between NEO and CertiK will make the smart contracts and dApps on Neo platform completely bug-free and hacker resistant.

Zhao Chen, the Manager of Neo Global Development said: NEO is a high-speed autonomous public chain. I believe NEO and CertiK’s partnership is on track to changing the course of history. With more developers building layers along with it, this added security layer will expedite the prosperity of the ecosystem.

Recently, Lin Peter, the Director of R&D at NEO Global Development [NGD] stated that NEO blockchain experienced a network blockage, which resulted in a spam attack. The attack emerged in the form of negative invocations and led to multiple transactions taking place on their network without the transfer of any funds. However, the team was unable to detect the actual cause behind the attack; whether it occurred due to a bug in the contract’s code or if it was executed with an intention of hacking.

CertiK, on 17th July, partnered with Ontology [ONT] in order to detect security vulnerabilities of open-source code with the help of broad specification technology. The collaboration also targeted at removing the flaw of human detection while reducing the cost of verification and offering high security to all the smart contracts.

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