ChainSecurity Brings Out First Automated Verification for Ethereum Smart Contracts

The latest update for Ethereum comes from ChainSecurity who recently announced its first fully automated verification for certifying custom functional requirements of Ethereum smart contracts. The newly released verification security is termed VerX by a company of Swiss security experts from ETH Zurich. VerX is a second-generation automated security tool which is purposefully designed in a way that works at certifying the functional requirements of Ethereum smart contracts. This recently announced tool for verification proves the functional correctness of these smart contracts by detecting the generic security threats and vulnerabilities that it may pose. Interestingly, the VerX promises clear formal guarantee despite being completely automated. This new security tool differs majorly from the previous versions, where the tool could only detect the known threats and vulnerabilities of the contracts. However, this isn’t enough for the developers and auditors. As a result, the second-generation security tool, VerX, tests the Ethereum smart contracts for the generic vulnerabilities while automatically surveying the contracts for being functionally correct.