Algorand Foundation, Algorand Inc. and Runtime Verification

Runtime Verification (RV) and Algorand have been building a strong collaboration since 2019, when RV was hired to verify Algorand’s consensus protocol, a pure Proof-of-Stake protocol that promises to provide efficient, secure and scalable operation while remaining truly decentralized. 2020 was as strong, after Runtime Verification Inc was awarded a grant by Algorand Foundation to develop a formal semantic framework for Algorand’s smart contracts. The grant was part of a 250 Million ALGO Ecosystem Grants Program, a multi-year program that aimed to support research and development of the Algorand ecosystem.

2021 was the year when RV completed the audit of the Rewards Contracts, as part of Algorand’s Community Governance. The Rewards Contracts are a key component of the Algorand Community Governance. A new model launched in October 2021, ir grants the community voting power and rights to participate in the decision-making process on how the Algorand Ecosystem Resource Pool (AERP) will be utilized and distributed.

In 2022 Runtime Verification become the Algorand Foundation’s preferred security partner, underlying RV’s security commitment to Algorand’s ecosystem.