Fujitsu has elected to wade into the wider cryptocurrency ecosystem in an unconventional way – the Japanese IT giant disclosed earlier this week that it has now developed and released new tools designed to mitigate issues within Ethereum’s smart contracts.
In a press release, Fujitsu explained that – despite not having an official name as yet – its new system is capable of assisting the Ethereum blockchain in authenticating the source call that might trigger a smart contract transactions.
The release explains that “because smart contract risks are directly linked with business losses, however, there have been issues with improving their reliability as a system. Now, Fujitsu Laboratories and Fujitsu Research and Development Center have developed algorithms to identify risk-affected transaction sequences on Ethereum”, and continues to add that “Using these algorithms, they have developed technology that is able to comprehensively detect 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.”
Smart contracts, of course, enable developers to craft applications on top of the Ethereum blockchain which automatically execute pre-determined orders.
Fujitsu’s new system – developed as the fruit of joint efforts between the company’s ladder and its R&D enter – offers the claimed capitability of alerting its developers of any source code vulnerability that could be used to ‘fake the origin of a transaction’.
The system is reportedly aslo capable of identifying the location of software bugs in a smart contract.
Fujitsu revealed that out of tests conducted with its new technology, the system provided a bug detection rate of 100% with an accuracy rate of up to 88%.
The company has further outlined that its Laboratory division will continue to develop applications not just for Ethereum, but further for Hyperledger Fabric – a blockchain framework implementation hosted by The Linux Foundation.
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