Runtime Verification is thrilled to announce XET token audit completion. XET token is the utility and governance token of the Xfinite ecosystem, a blockchain platform redefining the future of digital on-demand entertainment.

XET Token’s Audit Scope

XET token is the native currency of the Xfinite ecosystem. The token functions as a unique value of exchange and governance mechanism for all stakeholders including users, brands, influencers, and content producers. XET is implemented as an Algorand Standard Asset (ASA), a Layer-1 mechanism to represent any type of asset on the Algorand blockchain.

The audit focused on checking the consistency of the specification of the XET token…

Over the past eight months, a series of companies have undergone smart contract security audits with Runtime Verification. These companies have something in common: they are staking providers operating in the DeFi ecosystem.

This blog post aims to explain some common mistakes, patterns and aims to create awareness about security threats affecting staking providers and other DeFi projects.

DeFi, a paradise for hackers

Over the past year and a half, DeFi has experienced exponential growth with more than 2.9 million users at the time of writing this blog post, and it doesn’t show any signs of slowing down.

Many DeFi projects have been born in…

Runtime Verification, a startup that uses runtime verification-based techniques to conduct security audits on virtual machines and smart contracts, has raised $5.3 million in a funding round led by IOSG Ventures.

Investment came from a range of notable VC firms including Fenbushi Capital, Maven 11, Borderless Capital (Algorand), cFund (Cardano) managed by Wave Financial, Hypersphere (Polkadot), Elrond Research, and Tezos Foundation.

With involvement from the accelerator programs of five major blockchains, the fundraiser validated Runtime Verification’s dynamic software analysis approach to securing systems in the cryptocurrency industry.

The funds raised will be used to accelerate the development of tooling intended…

Elrond and Runtime Verification started as friends, professional admirers of each other’s organizations. The picture attached to this post shows members of both companies together at DevCon IV in Prague, October 2018. Quickly thereafter, Grigore Rosu, Runtime Verification’s founder and CEO, agreed to become an advisor to Elrond.

The Power of Reachability Logic

In a previous blog post, we introduced the K-Michelson project, a project developed by Runtime Verification and funded by a generous grant from the Tezos Foundation. So what is K-Michelson? Simply put, it is a formal verification framework for Michelson smart contracts; see our previous post for details. In this two-part series, we will investigate:

1. What an ideal programming language specification looks like.
2. How this ideal framework powers nextgen program testing.

In the first part of the series, we considered point how the K Framework is an example of point (1) using our K-Michelson tool as a concrete example. …

In a previous post, we introduced the K-Michelson project, a formal verification framework for Michelson smart contracts, and described our overall project goals. In this two-part series, we will investigate:

1. What an ideal programming language specification looks like.
2. How this ideal framework powers nextgen program testing.

In this first part, we limit our focus to question (1). So, what should an ideal programming language specification look like? Several properties come to mind:

• Clarity: it should be unambiguous and straightforward.
• Completeness: It should be self-contained and describe how all possible programs execute.
• Testability: arbitrary programs should be executable against the specification…

We are pleased to announce that Runtime Verification has been awarded a grant by Algorand Foundation to develop a formal semantic framework for Algorand’s smart contracts. The grant is part of its recently launched 250 Million ALGO Ecosystem Grants Program, a multi-year program that aims to support research and development of the Algorand ecosystem. We are very excited to have the opportunity to collaborate with Algorand in forming the future of Algorand’s smart contract architecture and supporting its growing community of developers. …

Runtime Verification Inc. (RV) is pleased to announce that we are partnering with the Tezos Foundation via the Tezos Ecosystem Grants program to develop a formal verification framework for the Michelson smart contract language! From its inception, the Tezos blockchain was designed with convenience, security, and extensibility in mind. However, unlike the status quo of predecessor technologies like Bitcoin, the true vision of a thriving Tezos ecosystem is more than just a secure digital currency exchange―it is a platform for developing and publishing distributed applications via smart contracts using its smart contract language Michelson. …