News

“We are delighted to support Runtime Verification’s grant application,” said Sean Lee, CEO of the Algorand Foundation. “We believe that creating a formal framework for Algorand Smart Contracts (ASC1s) will enable the creation of innovative, secure, and reliable DAPPs and DeFi solutions on the Algorand blockchain”. - Algorand Foundation
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"Runtime Verification designs formal models for high-value application domains, then uses the models to develop domain-specific products and services focused on correctness and security. Building off of its previous Tezos work, Runtime Verification will create a formal verification framework for Michelson by extending its existing unit testing framework to handle the case of symbolic unit tests. This project will help make it easier for developers of all backgrounds to deploy secure Tezos smart contracts." - Tezos Foundation
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"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." - Patrick MacKay, COO
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"Today we are very pleased to announce the formation of the Ethereum Trust Alliance (ETA). The ETA is a group of global blockchain security companies that are creating a security rating system for smart contracts to help users gain greater awareness of smart contract security and differentiate contracts which have gone through rigorous security checks. The founding members are MythX, Quantstamp, Runtime Verification, Sooho, SmartDec and ConsenSys Diligence." - Ethereum Trust Alliance
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"Runtime Verification is a company aimed at using runtime verification-based techniques to improve the safety, reliability, and correctness of software systems. The purpose of this grant is to develop a formal semantics and reference implementation of Michelson, a domain-specific language for Tezos smart contracts, in the K Framework. The K language is designed to make language definitions as readable as possible while still ensuring a K semantics has a precise mathematical meaning, and is supported by the tools of the K Framework. The Runtime Verification team will also publish documentation and interact with the wider Tezos developer community as part of this project." - Tezos Foundation
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"The design and implementation of bridges to all major blockchains is one of our highest priorities. [...] Currently, the only way to generate a Polkadot Runtime is by using Rust along with Parity-built tools. We would like to increase the language options for developers to write these Runtimes and recently released an RFP for the development of a tool to generate WebAssembly Runtimes from AssemblyScript." - Web3 Foundation
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"The Elrond research and development team will work closely with Runtime Verification to further develop the K framework and its capability to generate correct-by-construction Virtual Machines for the blockchain. Through the research and development initiative between Elrond and Runtime Verification we aim to take smart contracts to the next level, and to make the GO backend developed by Elrond for the K framework, open source and available to the wide public." - Elrond Network
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"To achieve even greater assurance about the Algorand protocol, and to make future design and validation of new protocols easier, we have chosen to enhance our mathematical proofs on paper with machine-checkable formal verification approaches. For this purpose, we engaged Runtime Verification, a company with deep verification expertise, to verify the correctness of the Algorand consensus protocol." - Algorand Foundation
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"Many resources are shifting into testing, fuzzing, and audits over the coming months. We engaged Runtime Verification to formally verify the deposit contract and to formally specify the Beacon Chain. This is in addition to considerable effort by the research, development, and security teams involved in ETH 2.0 toward reliability and security." - Ethereum Foundation
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"Our team worked closely with Runtime Verification (RV) — a company that specializes in using runtime verification techniques to ensure that software systems are secure — to release a formal verification report. While testing and auditing are essential steps in the development process, formal verification is a mathematical proof-based methodology used to significantly decrease the likelihood that a smart contract is buggy." - Gnosis
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"Runtime Verification has been working closely with Rikard Hjort of Chalmers University on the KWasm semantics, which will allow Web Assembly contracts to be formally verified using the K framework. The core computational opcodes are finished, what remains are memories, tables, and modules. Memories are almost done, awaiting final review and approval, and tables will follow shortly." - Panvala
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"Runtime Verification, based in Urbana, has developed tools to improve the safety and reliability of software systems. Its technology can automatically detect bugs that are lurking in a company’s software, and identify problems before a program crashes. Runtime’s customers include a handful of high-profile clients—such as Boeing, NASA, Toyota and the National Science Foundation—who use the startup to make sure their code is error free. For these types of companies, if their software fails, the stakes are higher than, say, a shopping app or a dating website. Detecting problems as soon as possible helps machines run better and keeps people inside those machines safer." - Chicago INNO
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"To provide the highest confidence that the contracts behave as expected, we are working with Runtime Verification to provide us with a formal and mathematically provable audit of the Multi-Collateral smart contracts. We believe MakerDAO will be the first production smart contract system that is formally verified in this manner." - Maker
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"The K framework was used to formally model the semantics of the Ethereum Virtual Machine, and the knowledge gained from this process was employed to design IELE, the virtual machine for Cardano that will be released in a test format in a few weeks’ time. This is the first time this technology has been deployed within the blockchain industry. Importantly, K is a means to formally verify the code of smart contracts, so they can be automatically checked for the types of flaws that have led to catastrophic financial loss, and must be avoided at all costs." - Cardano Foundation
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"The first Cardano smart contracts testnet launches today, the KEVM testnet, a correct by construction version of the Ethereum Virtual Machine (EVM) specified in the K framework. This technology, produced by Runtime Verification with the support of IOHK, is the first time that a complete formal semantics of the EVM have been produced. This is an important first in cryptocurrency that is a necessary step towards the promise of third-generation blockchains." - IOHK
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"These grants will fuel the teams working hard at research & development to support the entire ecosystem. Furthermore, we hope that these grants will signal to the community what we think are the missing pieces in the ecosystem that need more support. Said in another way, the Foundation is here to serve teams and individuals that are working to prevent a tragedy of the commons." - Ethereum Foundation
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