Blockchain Risks Detection Tool Developed By Fujitsu

Announcements, Blockchain | March 7, 2018 By:

Japanese firm Fujitsu has developed a technology that can verify, in advance, risks associated with ethereum smart contracts.

Smart contracts are a contract that can be automatically formed in the blockchain system and checked and executed automatically. Once a contract has been executed, it cannot easily be stopped, and it cannot be revised, even if risks are found in the smart contract.

To solve this issue, Fujitsu Laboratories and Fujitsu Research and Development Center have developed technologies to automatically detect risks in smart contracts for ethereum that could not previously be detected, and also to identify the relevant locations in the source code.

They have developed algorithms to identify risk-affected transaction sequences on ethereum blockchain using symbolic execution technology. Using these algorithms, they have developed technology that is able to detect six types of risks in smart contracts which could be overlooked in a manual review, and can then identify the relevant locations in the source code. Using this technology, blockchain developers would be able to rapidly develop even safer smart contracts.

Fujitsu claims that the new technology is capable of 100 percent risk detection and that in terms of precision, it will achieve an accuracy rate of up to 88 percent.

“Because over-identification of risk is rare, this technology will enable more efficient smart contract development, and combined with the risk location identification technology, it is also expected to reduce the workload involved in tasks such as specification comprehension, code evaluation, and fixing the code,” Fujitsu said. “This technology will contribute to the efficient application of blockchain technology to a wide variety of fields.”

Fujitsu Laboratories said they will continue to develop verification technologies, not only for ethereum, but also for Linux Foundation’s Hyperledger Fabric, with the goal of commercialization of this technology during fiscal 2018. They will also focus on building secure systems using blockchain technology.