Fujitsu Laboratories announced development of technology along with Fujitsu Research and Development Center that can verify, in advance, risks associated with smart contracts, which are programs that automatically execute transactions on blockchain platforms. The two wings of Fujitsu has worked together to develop algorithms to identify risk-affected transaction sequences on Ethereum. The technology also identifies relevant locations in the source code.
In addition, Fujitsu has explained that since smart contracts are copied to multiple locations and executed in a distributed manner, 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. In fact, there has been an incident in which, because a smart contract to create an automatic investment trust application on a blockchain was flawed, a huge amount of capital was improperly transferred.
Fujitsu has further elucidated that there are six types of risks in smart contracts which have the potential to be overlooked in a manual review and can then identify the relevant locations in the source code.
The new technology by Fujitsu aims to not only detect the risks but will also accurately identify their locations in the source code. The technology is capable of detecting 100% of risks. As for precision, the company claims that the technology is 88% accurate, in terms of risk detection and source code risk location identification.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. This technology will contribute to the efficient application of blockchain technology to a wide variety of fields.
Fujitsu Laboratories looks forward to continuing developing verification technologies, for Ethereum as well as for Hyperledger Fabric, a blockchain framework implementation and one of the Hyperledger projects hosted by The Linux Foundation, with the goal of commercialization of this technology during fiscal 2018. In addition, Fujitsu Laboratories will not only continue to develop verification technology for smart contracts but also broad technology development relating to building secure systems using blockchain.