AAP Recommendation

F.751.12: Formal verification framework for smart contract on distributed ledger technology

Study Group
16

Study Period
2022-2024

Consent Date
2023-07-21

Approval Date
2023-09-13

Provisional Name
H.DLT-VERI

Input used for Consent
SG16-TD187/PLEN (2023-07)

Status
A

IPR
Site

Smart contracts can be used to reduce complex business contracts by directly enforcing the contract's payment methods and paybacks, and by automating the process of contract execution and verification into the network, without the intervention and cost of the person checking the contract's performance. However, smart contracts are a series of program codes generated on distributed ledger technology (DLT) and problems may occur in the process of executing the smart contract. As a method to solve problems that occur in the program execution environment, there is a formal verification. This Recommendation specifies formal verification framework for smart contract on distributed ledger technology (DLT), its overview, requirement and architecture in its framework, as well as the main technical direction of its formal method component. This Recommendation can be used as a guideline for smart contract developer to build systems.

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