Runtime Verification becomes Algorand Foundation’s security partner

Posted on December 9th, 2021 by Runtime Verification

Runtime Verification is honored to announce a new partnership with the Algorand Foundation. Through this partnership, Runtime Verification becomes the Foundation’s preferred security partner, and underlines its security commitment to Algorand and its ecosystem.

Since 2019, RV has worked on a series of engagements with Algorand Inc and the Algorand Foundation, including modeling the Pure Proof-of-Stake protocol, proving its safety theorem, and developing a formal semantic framework for Algorand’s smart contracts. This year has seen Runtime Verification work with the Algorand Foundation to review and audit several exciting projects, including Tinyman, Yieldly, StakerDAO, and AlgoDex.

With this new partnership, Runtime Verification consolidates its position towards helping to build one of the safest blockchain ecosystems using formal verification techniques and conducting audits in several projects built in the Algorand blockchain.

“RV is pleased to advance and accelerate our relationship with the Algorand Foundation, with whom we share the belief that security is fundamental to the eventual adoption of decentralized finance. This partnership announcement is a wonderful bookend to the year, and excites all of us for what’s in store for 2022” said Patrick MacKay, COO at Runtime Verification.

“Independent audits are essential to maintain the security and integrity of the Algorand network. Runtime Verification Inc have conducted audits for the Algorand Foundation and our partners previously, and have shown themselves to be an industry leader and company with verification expertise for blockchain audits. We look forward to our partnership and welcome Runtime Verification Inc as our security partner” said Addie Wagenknecht, Head of Global Ecosystems and Technical Operations at the Algorand Foundation.

Finally, we would like to take the opportunity to thank the Algorand Foundation, the ecosystem projects and the larger Algorand community. We are excited to work with all of you, today, tomorrow, and in the future.