The Stellar Development Foundation (SDF) has recently announced its commitment to ensuring the security of Soroban, an advanced smart contract platform within the Stellar network. With the anticipation of Soroban’s launch, the SDF has initiated comprehensive security checks in collaboration with Certora, a renowned security firm known for its formal verification tools.
The collaboration between SDF and Certora highlights the critical importance of rigorous security assessments in the blockchain industry. Minor loopholes can lead to significant losses, especially in blockchain systems. Furthermore, smart contracts, which automate actions and workflows on blockchain networks, are highly susceptible to attacks. Thus, robust security protocols are essential to mitigate potential risks.
“Certora helps developers identify and prevent security flaws in their smart contracts before the code is deployed. It does this by identifying violations of rules that shouldn’t be broken in smart contracts. So far, Certora has prevented bugs in SushiSwap’s Trident liquidity pool, Aave, Compound, and Balancer,”
– Mooly Sagiv, CEO of Certora
Stellar emphasizes that Soroban represents a new era of smart contracts, focusing on scalability, sustainability, and rigorous testing. To achieve these goals, Soroban leverages WASM, an adaptable binary code format that is ideal for blockchain settings. This compatibility allows developers to use various programming languages and tools, streamlining the application-building process on the Stellar network.
Certora’s formal verification capabilities will empower Soroban platform developers to ensure the trustworthiness and security of their smart contracts. This partnership instills users with heightened confidence in the applications they engage with.
Additionally, Certora’s security team will actively participate in the Soroban Audit Bank Initiative, dedicating time and resources to educate the Soroban community about utilizing this valuable service.
“Stellar’s proactive approach to conducting security checks and audits for Soroban demonstrates its commitment to providing a secure and reliable smart contract platform. By addressing potential vulnerabilities, the SDF is taking the necessary steps to ensure that Soroban’s launch is as smooth and secure as possible,”
– Stellar Development Foundation
