What Is ‘Model Checking’ as a Formal Verification Technique?
Model checking is a formal verification technique that systematically and exhaustively explores all possible states and execution paths of a smart contract's code to determine if a specified property (like an invariant) holds true. Instead of requiring a full mathematical proof, the model checker builds a finite-state model of the system and checks every state.
If a property is violated, it produces a counterexample, which is the sequence of transactions that leads to the bug. It is effective for smaller, highly complex financial state machines.
Glossar
Formal Verification
Rigour ⎊ Formal verification, within cryptocurrency, options trading, and financial derivatives, establishes mathematical proof of system correctness, moving beyond empirical testing to guarantee code behavior aligns with intended specifications.
Model Checking
Methodology ⎊ Model Checking is a formal verification methodology that systematically and exhaustively explores the entire state space of a finite-state system to determine if a specified property holds true for every reachable state.
Verification
Attestation ⎊ Verification within cryptocurrency, options trading, and financial derivatives functions as a critical process confirming the validity of transactions and data integrity, particularly vital in decentralized systems lacking central authorities.