SAN JOSE, Calif., Jan. 11, 2019 (GLOBE NEWSWIRE) — Trustlook, the global leader of AI-powered cybersecurity, launched Smart Contract Insight (SCI), a smart contract bytecode decompiling platform and announced a free smart contract auditing service based on this platform.
The open source spirit of Ethereum is intended to allow developers to share their work with the community so innovative platforms and applications can be built. However, according to a survey conducted by Trustlook at the end of 2018, there have been roughly 2 million smart contracts built and deployed on the Ethereum network, but over 80% were published as unreadable low-level byte-code. This makes it nearly impossible for the average developer to analyze the contents of these smart contracts, which lead to the widespread use of insecure and unreliable contracts. This is likely a key enabler for a number of serious incidents on the Ethereum network.
Trustlook’s SCI decompiles unreadable smart contract byte-code into Solidity, a familiar and readable high-level language. There currently exists no product on the market which matches SCI in maturity or capability. Additionally, the decompiler has been released for free online use, which will allow developers a convenient tool for analyzing previously opaque smart contracts. Trustlook is hopeful that in the process of using SCI, community developers will also improve the quality and security of the Ethereum Network.
The security of smart contracts is critical since they may not be altered once deployed. Accordingly, the ability to audit smart contracts is necessary to ensure their security, as their bugs can directly cause thousands or millions of dollars in damages to digital currency exchanges and users.
Therefore, Trustlook has decided to provide the smart contract auditing service for free to the community while launching the SCI platform.
The founding team at Trustlook are cybersecurity veterans with over ten years of industry experience, with deep understanding of traditional cybersecurity fields as well as cutting edge blockchain security issues. Trustlook seeks to provide security and reliability to all smart contract based services in order to build a safer and more mature Ethereum network.
Trustlook (www.trustlook.com) is a global leader in next-generation cyber security products based on artificial intelligence. Their innovative SECUREai engine delivers the performance and scalability needed to provide total threat protection against malware and other forms of attack. Trustlook’s solutions protect users from both known and zero-day threats by analyzing millions of code-level and behavior combinations to find malicious patterns. Founded in 2013, the company is headquartered in San Jose and managed by leading security experts from Palo Alto Networks, FireEye, Google and Yahoo.