Japanese IT heavyweight Fujitsu has announced a new technology that it claims could help in eliminating the problems with smart contracts.
On March 7, Fujitsu announced the development of a technology that can be used to verify, in advance, the risks associated with smart contracts, programs which automatically complete transactions on blockchain platforms. This technology can also identify the relevant locations in the source code.
According to the statement released on Wednesday, Fujitsu stated that the new system aims at detecting the risks associated with a smart contract source code on ethereum in advance. The technology helps the blockchain with the authentication of the source call which triggers smart contract transactions.
Smart contracts one essential feature that helps to differentiate ethereum from bitcoin, it also enables developers to build applications on top of ethereum blockchain to execute programming contracts automatically.
Nevertheless, Fujitsu confirmed that, at the moment, there are six common threats related to the platform. Although the existing technologies can solve most of those issues, the truth about the source call still is a problem.
For example, as explained by the firm, since several smart contracts could be built indirectly into the blockchain, there’s still a risk that the system might not execute the original purpose of a source call correctly.
Up to that end, the the result of the new system from combined efforts of the Fujitsu’s laboratory along with its R&D center, is said to be alerting developers of any vulnerability of the source code that is likely to be exploited to manipulate the language of ethereum, and that which could eventually “fake the origin of a transaction.”
Furthermore, these two groups are also touting the newly developed technology as being able to single out the code location of the existing bugs.
In other news, Fujitsu said it has plans to extend the research and development efforts of its blockchain to help commercialize Hyperledger Fabric, which is a blockchain structure developed by blockchain consortium of which Fujitsu is one of the member companies. The project is scheduled to complete later in 2018.