This week, Stellar initiated first-level security checks on its upcoming smart contract platform Soroban.
The Stellar Development Foundation, the organization responsible for the development of this blockchain network, has partnered with security company Certora to test the security of Soroban, an advanced smart contract platform that is focused on scalability and sustainability to build the infrastructure for the new era of smart contracts and digital applications.
Through this collaboration, Stellar seeks to ensure the security, stability and trust of the new platform through a series of rigorous tests, which will allow Soroban to prepare for its imminent launch on mainnet.
Stellar developers highlighted that Soroban will incorporate Certora's cutting-edge formal verification capabilities and will be The first platform powered by WebAssembly (WASM), a binary code format supported by the security firm. They also noted that projects already being developed on Soroban will have access to the cutting-edge tools offered by Certora.
Formal verification capabilities go beyond traditional code verification, so through the new smart contract platform, application developers can ensure a higher level of security, minimizing the risk of vulnerabilities and errors that can cause losses to their users.
“Soroban is the first WASM-powered platform to support Certora, traditionally associated with the Ethereum Virtual Machine (EVM)”.
Revolutionizing smart contract development
Through Soroban, the Stellar Foundation wants to establish a new standard for smart contracts based on WASM. Soroban introduces Turing-complete smart contracts to the Stellar ecosystem, which is a fundamental part of the project's shared roadmap to innovate in the blockchain industry.
Tomer Weller, Vice President of Technology Strategy at the Stellar Development Foundation and lead developer of Soroban, said that the development of this smart contract platform was necessary because there was no smart contract platform in the industry that offered the tools they wanted to work with in the market.
On the other hand, Mooly Sagiv, CEO of Certora, pointed out that correcting code vulnerabilities once they are exploited ends up being more expensive, which is why it is important to integrate audits into the development process and prevent possible failures and errors.
The security company, which is commonly linked to the Ethereum ecosystem, is expanding its support for Stellar and Soroban to provide a high level of security across the blockchain ecosystem. Certora has helped secure nearly $25.000 billion worth of Ethereum, mitigating the risk of vulnerabilities and bugs in several of the ecosystem’s most prominent decentralized protocols, including Aave, SushiSwap, Balancer, and more.
Security for the DeFi ecosystem
Although DeFi represents an innovative digital financial ecosystem full of many possibilities, the security vulnerabilities of many of its projects have affected the reputation of the ecosystem in general, which is perceived among users and investors as insecure and high-risk.
Stellar developers seek to change this narrative, offering through Soroban a secure environment that allows developers Building a robust DeFi ecosystem From the beginning.
Thanks to the collaboration with Certora, application developers can write specifications before the code is complete using the tools offered by the company, to ensure more secure and reliable applications.
More than a hundred projects are being developed in Soroban
Currently, more than 100 projects are being developed on Soroban, which was launched on Stellar’s Futurenet sandbox a year ago.
In addition to this launch, the Stellar Foundation also announced the creation of a $100 million fund to support developers who are helping to build Soroban and who are building new applications on the platform.
Last year, the foundation had reported that the launch of Soroban on the mainnet was planned to happen sometime in the first half of this year. However, an official date for the deployment of Soroban on the Stellar mainnet has not yet been set.
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