US-based global cryptocurrency exchange giant Coinbase has unveiled a new approach to audit smart contracts on Ethereum dubbed “Solidify”.
In the June 23 announcement, Peter Kacherginsky, who acts in the capacity of a principal blockchain security engineer, said Solidify will cut the time normally associated with the rigorous, "time-consuming and error-prone" manual audit process. Said.
After Coinbase open-sources Solidify later this year, asset issuers, smart contract auditors, and other exchanges will have access to security analytics tools.
Coinbase, a cryptocurrency exchange compliance feature through leading blockchain security engineers, ensures that exchanges undergo extensive security reviews when their tokens are listed, but still need analyzers that work quickly, securely, and at scale. I said yes. Unfortunately, there are no options in the current industry to meet, so Solidify continues to develop.
“To solve this problem, we launched a tool called Solidify (Play on Solidity) that will increase the rate of new asset security reviews without lowering the high security standards that Coinbase customers have come to expect in securing their tokens. Solidify is a language of d-apps built primarily on the Ethereum network, about 6,000 unique tokens built for easy and fast risk matching of robustly written smart contracts. A unique tool with the signature of A smart contract analyzer helps to examine potentially dangerous functions and poorly tested operations.
according to Kacherginsky, " Solidify uses a sizable signature database and pattern matching engine to consistently detect contract characteristics and associated risks, standardise and evaluate smart contract hazards, recommend mitigation options, and offer thorough We will produce a report.
Solidify was built to uncover security flaws in Ethereum smart contracts audit, but complex assets such as automated market makers (AMMs) and DeFi apps can be large scale with complex custom code. As a protocol, it cannot be operationally analyzed yet. This requires additional manual analysis. In this regard, Kacherginsky:
“Solidify, however, is still beneficial for those applications when analyzing DeFi clones, or removing standard libraries from the manual review scope so analysts can focus on custom logic,” he said. .
However, the makers of Solidify have "enhanced the accuracy of signature generation and detection logic" and "added formal verification approaches" before the product is open-sourced, as Kacherginsky highlighted. At the moment, it's still a work in progress. This lessens the requirement for manual analysis.
Solidify allows the industry to add a suite of security audit tools. Hacking or malfunctioning smart contracts resulting in large amounts of funds being consumed or causing rebase errors is no longer news.
