Runtime Verification is excited to announce a new engagement with PlatON Networks, a privacy protecting new generation of public chain sponsored by LatticeX Foundation (Singapore). PlatON was forked from Ethereum, reborn with a brand new consensus algorithm and PlatON POS (proof of stake). The focus of this engagement is the formal modeling of PlatON’s Concurrent Byzantine Fault Tolerance (CBFT) protocol and verification of two mission critical properties - safety and liveness. The latter will likely be spread out over two different engagement phases.
“To say we are excited to engage with PlatON Networks is an understatement. We began conversations with their team in late 2019 about how and where our two companies could engage. Although we discussed various opportunities, including those related to writing and verifying programs written in web assembly (WASM), we eventually settled on protocol verification as a good place to start what will hopefully become a long-term collaboration and partnership”, said Patrick MacKay, Runtime Verification’s Chief Operating Officer.
CBFT is PlatON Network’s consensus protocol. It derives from several existing protocols, but also introduces new technologies that aim at improving efficiency and scalability of the network, including perhaps most importantly the concurrent production of blocks in a round. As in other consensus protocols, two fundamental requirements ensuring the protocol’s security and proper operation are safety and liveness. Formally modeling the protocol and verifying these two properties provides a high level of assurance of correctness of the protocol’s design and enables making explicit all the assumptions under which the properties are satisfied.
PlatON is a next-generation computing architecture that aims to facilitate secure, seamless, and open data sharing for the public good. Through Privacy-Preserving Computation (PPC), PlatON breaks down data silos and enables secure data exchange and collaborative computing for enterprise users. With its open-source data marketplace, PlatON supports and incentivises individuals and businesses looking to both monetise and utilise data resources. PlatON addresses limitations in scalability and security by way of Verifiable Computation and privacy-preserving encryption capabilities, currently enabling real-world usability across a variety of global industries, including advertising, healthcare data management, IoT and decentralized AI, financial services, as well as key management systems.
About Runtime Verification
Runtime Verification Inc. (RV) is a technology company headquartered in Urbana, Illinois. The company employs a novel software analysis approach to analyze computer programs as they execute, thereby identifying bugs, errors, holes, and possible exploits. Runtime Verification is the primary developer of the K Framework. The K Framework facilitates the definition of domain-specific or general-purpose programming languages, and the subsequent automatic generation of tools for formally analyzing programs in those languages.