Enterprise Ethereum Alliance Advances Good Contract Safety with EthTrust Specification


EEA EthTrust Safety Ranges Specification Defines Good Contract Safety Certification Necessities for Ethereum Ecosystem

WAKEFIELD, Mass. – August 22, 2022 – The Enterprise Ethereum Alliance (EEA) as we speak introduced the publication of the EthTrust Safety Ranges Specification V1.  Developed by the EEA EthTrust Safety Ranges Working Group, the brand new specification goals to make it fast and simple for auditors to outline easy methods to certify whether or not a wise contract has been by a full safety audit by an expert workforce.

The blockchain house has exploded with a flurry of exercise that has people and organizations deploying token contracts, including liquidity to swimming pools and deploying sensible contracts to help a variety of enterprise fashions and essential companies. Whereas there are a variety of established corporations that provide to verify the safety of sensible contracts within the Ethereum ecosystem, there was no customary set of exams, nor a standard score system, till now.

“The EthTrust Safety Ranges Specification V1 affords the primary high quality framework with broad {industry} backing and offers steering on the necessities organizations have to certify a degree of assurance, backed not solely by the fame of the auditor issuing the certification however by the collective fame of the a number of safety specialists from many competing organizations who’ve contributed to this work,” stated EEA Government Director Dan Burnett. “I’d prefer to thank the EthTrust Safety Ranges Working Group for collaborating to make sure that this specification defines protections towards an actual and vital set of identified vulnerabilities.”

The EEA EthTrust Safety Ranges Working Group is chaired by Chris Cordi of Splunk. The working group brings collectively EEA member representatives identified primarily for his or her auditing and safety experience, together with ConsenSys Diligence, The Depository Belief & Clearing Company (DTCC), Hacken, OpenZeppelin, Banco Santander and Path of Bits, in addition to safety specialists from broader-based members similar to EY, JP Morgan, Microsoft, SAE, Splunk, and extra.

“Because the Ethereum blockchain {industry} grows, so does the necessity for a mature framework to evaluate the safety of sensible contracts,” stated Cordi. “Particularly, DeFi platforms have grown explosively up to now couple of years to collectively maintain billions of {dollars} in belongings, and they’re frequent targets of exploits. This specification will help enhance the safety of those platforms and mitigate safety dangers.”

“This work is for organizations placing sensible contracts on Ethereum blockchains. This specification permits new auditors to ascertain that they’re working on the similar high quality degree as their established friends. It additionally allows builders to be taught what the {industry} is aware of, construct higher and handle safety dangers extra successfully in their very own work,” stated EEA Technical Program Director Chaals Nevile. “The EEA is pleased to finish this essential first step in creating safety requirements to extend belief within the ecosystem of EVM-based blockchains, customers, companions, and suppliers, particularly as the necessity for efficient safety evaluation solely continues to develop.”

EEA EthTrust Safety Ranges Working Group Supporting Quotes

ConsenSys Diligence

“The EEA EthTrust Specification has been years within the making and it’s thrilling to see the discharge of the primary specification. One of many major challenges with constructing such an ordinary has been the quick tempo of the modifications and discovery of latest vulnerabilities within the sensible contract techniques, which have gotten more and more mature and sophisticated. The rise in complexity has elevated the chance of safety points being hidden in a system’s code base. Within the broader Ethereum ecosystem, it’s more and more tough to measure a wise contract system’s safety properties in a means that continues to be structured and comparable. The EEA EthTrust Safety Ranges Specification is the primary cross-industry effort to formalize necessities for the safety of such techniques and a certification scheme that gives numerous ranges of confidence. Having this framework in place will permit for elevated investor and particular person confidence within the contracts they put money into and work together with. As long-time contributors to the EEA’s EthTrust working group and specification, we sincerely hope this specification will contribute to the prominence of safety measures within the software program improvement lifecycle and the Ethereum ecosystem,” stated Dominik Muhs, Sr. Safety Engineer, ConsenSys Diligence, an EEA and EEA EthTrust Safety Ranges Working Group member.

DTCC

“Good contracts have confirmed to be weak to exploitation on account of insufficient coding practices and an absence of requirements across the measurement of their maturity and reliability. The EthTrust Safety Ranges Specification will introduce much-needed requirements that can carry elevated security and confidence to this house because the blockchain ecosystem continues to evolve. We’re proud to be part of EEA and stay up for supporting the Specification roll-out and its development,” said Invoice Izzo, Director, Info Expertise Safety at DTCC, an EEA and EthTrust Safety Ranges Working Group member.

Hacken

“The EEA EthTrust Safety Ranges Specification is essentially the most vital try and degree the enjoying discipline for all crypto auditors and finally carry unparalleled ranges of safety, ethics, and belief to Ethereum blockchain know-how. Contributing to the Specification in collaboration with main safety gamers is integral to Hacken’s mission of constructing Web3 safe. The Ethereum EthTrust Safety Ranges ecosystem has increasingly more use circumstances, however exploits have gotten extra prevalent too. Earlier than initiating a transaction, there should be a solution to inform how safe a contract or handle is. With the Specification, main crypto auditors, together with Hacken, present a baseline degree of safety towards identified and consequential sensible contract weaknesses,” stated Yevhenii Bezuhlyi, Head of Good Contracts Audits Division, Hacken, an EEA and EthTrust Safety Ranges Working Group member.

OpenZeppelin

“We’re extremely excited in regards to the EthTrust Specification because it is step one in the direction of a extra sturdy Web3 ecosystem. Getting safety {industry} leaders and rivals collectively underneath one roof is important for the adoption of safety requirements we are able to all belief,” stated Michael Lewellen, Head of Options Structure, OpenZeppelin, an EEA and EthTrust Safety Ranges Working Group member.

Concerning the EEA’s EthTrust Safety Ranges Working Group

The Working Group’s mission is to develop requirements for Ethereum and EVM sensible contract safety audits to profit the ecosystem. The EthTrust Safety Ranges Working Group invitations corporations which can be considering taking part of their ongoing work to achieve out to [email protected] to change into an EEA member. Present EEA members can get entry to the EthTrust Working Group by the EEA membership collaboration portal.

Concerning the EEA

The Enterprise Ethereum Alliance (EEA) allows organizations to undertake and use Ethereum know-how of their each day enterprise operations. The EEA empowers the Ethereum ecosystem to develop new enterprise alternatives, drive {industry} adoption, and be taught and collaborate. The EEA Group Tasks offers a hub for open supply improvement of code, APIs, requirements, and reference implementations. To be taught extra about becoming a member of the EEA, attain out to [email protected] or go to https://entethalliance.org/become-a-member/.

Comply with the EEA on Fb, Twitter, LinkedIn, and YouTube.



Latest articles

Related articles

Leave a reply

Please enter your comment!
Please enter your name here