Abstract
Blockchain technology has attracted more and more attention from academia and industry recently. Ethereum, which uses blockchain technology, is a distributed computing platform and operating system. Smart contracts are small programs deployed to the Ethereum blockchain for execution. Errors in smart contracts will lead to huge losses. Formal verification can provide a reliable guarantee for the security of blockchain smart contracts. In this paper, the formal method is applied to inspect the security issues of smart contracts. We summarize five kinds of security issues in smart contracts and present formal verification methods for these issues, thus establishing a formal verification framework that can effectively verify the security vulnerabilities of smart contracts. Furthermore, we present a complete formal verification of the Binance Coin (BNB) contract. It shows how to formally verify the above security issues based on the formal verification framework in a specific smart contract. All the proofs are checked formally using the Coq proof assistant in which contract model and specification are formalized. The formal work of this paper has a variety of essential applications, such as the verification of blockchain smart contracts, program verification, and the formal establishment of mathematical and computer theoretical foundations.
Highlights
Blockchain technology, which supports financial transactions in the Bitcoin system [1], is essentially a decentralized database
We develop a new formal verification framework for the security of blockchain smart contracts
The formal verification framework we developed can be used to verify the security of most blockchain smart contracts
Summary
Blockchain technology, which supports financial transactions in the Bitcoin system [1], is essentially a decentralized database. We apply the formal verification method to the detection of security issues in smart contracts. This formal verification framework can be used in all smart contracts to verify the significant security issues that exist It establishes a foundation for further development. Based on the proof assistant Coq, we present a complete formal verification of the Binance Coin (BNB) contract in combination with the above method and framework. We completed the verification of the function specification and properties at the mathematical level, which sufficiently proves the security and reliability of the smart contract.
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