NEO a blockchain platform for smart contracts often referred to as the Ethereum of China, announced this week that it has formed a partnership with CertiK, a blockchain and smart contract verification platform, to improve the security of smart contracts on the NEO blockchain.
According to the announcement on August 1st, CertiK, which specializes in formal verification of smart contracts and blockchain ecosystems, will assist NEO in two areas; smart contract verification and digital identity solution. The collaboration between will make the smart contracts and dApps on Neo platform completely bug-free and hacker resistant.
🎉 NEO Partners With CertiK for Next Secure Smart Economic Model 🎉https://t.co/FH4dnnENnS
— NEO Smart Economy (@NEO_Blockchain) August 1, 2018
Zhao Chen, the Manager of Neo Global Development (NGD) commented:
“NEO is a high-speed autonomous public chain. With more developers building layers on top of it, this added security layer will expedite the prosperity of the ecosystem. I believe NEO and CertiK’s partnership is on track to change the course of history.”
CertiK’s team is based in New York and Silicon Valley. Co-founder Prof. Shao Zhong, Thomas L. Kempner Professor & Chair of Computer Science at Yale University, has more than 30 years of experience in the security field. The core technology of the team is formed by Prof. Shao Zhong and another co-founder, Prof. Gu Ronghui, from Columbia University. Their research on CertiKOS, the world’s first operating system that has theoretically proven to be resistant to hacker attacks, is now widely used in various fields including, government and military.
The CertiK team uses a special algorithm to ensure that a software follows the necessary demands. Their formal validation ensures that there are no bugs in electronic contracts and distributed ledger systems and that they are strong against malicious attacks. The majority of DLT contracts and apps on the NEO protocol are made by third parties, so it is vitally important to seek and eliminate potential weaknesses.
This news comes just weeks after CertiK announced a similar partnership with Ontology (ONT), a next-generation public chain infrastructure project and a distributed trust collaboration platform, to work towards enhancing the security and reliability of smart contract and blockchain systems.