We are ready to talk a little more about another one of our portfolio companies – CertiK. This is a fantastic company that has created a formal verification platform for smart contracts, and is backed by some of the most active and interesting crypto funds around the world.
From a recent Forbes article:
One company proposing an engineered solution is CertiK – an upcoming verification platform for all the components of a blockchain ecosystem, including smart contracts and DApps. Where its competitors rely on manual verification and the classic testing-based approach, CertiK would point to the fact that testing can only identify when bugs are present, and never certify their absence. Instead, CertiK’s platform will mathematically prove that any items are free of bugs and hacker-resistant.
According to CertiK, the answer to truly scalable verification is a layer-based system. Instead of testing—what the team describes as a “prohibitive” task reliant on human labor—CertiK uses modular verification to break tasks down into smaller ones, allowing them to be solved in a decentralized fashion. This style of work incentives and rewards the community to construct and validate proofs, improve solving algorithms, and maintain a resilient, cost-effective solution – all music to the ears to advocates of decentralization.
Having previously built one of the world’s first hacker-resistant operating systems, the CertiK team is a blend of academic and corporate verification experience – led by Yale and Columbia University professors, and backed by software engineers from Facebook, Google, and FreeWheel.