Fysical Smart Contract Security Audits
We are happy to announce that the Fysical Smart Contract has been deployed to the Ethereum Mainnet and is now available for public use. Fysical provides a marketplace for location data-trade, recording all transactions publicly on the Ethereum Blockchain.
The Fysical Smart Contract
https://etherscan.io/address/0x587e276dc7f2c97d986e8adf9b82d3f14d6cd8d2
The cost and performance of blockchain systems makes it impractical to store large volumes of data directly on the blockchain. Fysical solves this by recording references to data stored off-chain. These references describe where data is available, and where information about that data, such as how it is encrypted or compressed, is available. The Fysical source code and comments about each method can be found on GitHub:
https://github.com/Fysical/Fysical
Two Smart Contract Audits
The quality of Fysical’s source code is of the utmost importance. As with every reliable software project, a goal is to keep the number of code paths low and to thoroughly test each path — ensuring that when the project is released, it functions as expected, without issue. Each piece of logic contained in Fysical was tested thoroughly. Additionally, Fysical contract creation and data publication logic were successfully executed against Ropsten Test Network before running on the Ethereum Mainnet.
The permanent nature of smart contract logic requires significant effort to ensure a high-quality, one-time release on Ethereum. From the beginning of Fysical’s design phase, we knew we wanted third-parties to audit the source code. These audits would be crucial to ensuring that Fysical’s design was sound and secure. So, throughout the development of Fysical and its test environment, we had the pleasure of working closely with the teams at Cure53 and SmartDec to ensure the code did not contain any major security flaws. Both companies audited Fysical several times throughout the stages of its development, including the final release that is available on Ethereum today.
In the case of both Cure53 and SmartDec, no major security flaws were found.
In the conclusion of the Cure53 audit:
“The results of this Cure53 security audit of the smart contract operated by Fysical are positive. Despite the relatively complex data structures and functions, the smart contract appears very strong in terms of security properties. The overall small number of findings is an outstandingly positive sign, attesting to the fact that the Fysical team is developing their smart contract product with security in mind.”
In the conclusion of the SmartDec audit:
“The audit showed high code quality and security of the project. No serious vulnerabilities were found. However, few medium and low severity issues were found and reported to the developer. In the latest version of the code, most of them (and all of the important ones) were fixed.”
We’re excited to announce Fysical to the community and we encourage anyone interested to reach out and learn more. You can also join our Telegram Community to chat live with the team here: https://t.me/fysical
