Orbs Launches The TON Verifier To Verify The Ecosystem’s Smart Contracts Code

Tel Aviv, Israel–(Newsfile Corp. – December 15, 2022) –  Orbs, a leading Layer-3 blockchain solution, announces its TON Verifier. The open-source application lets users who write code for The Open Network (TON) chain publish their verified source code.

Cannot view this image? Visit: http://104.196.70.3/wp-content/uploads/2022/12/148162_87fc9a68843a88a0_001.jpg

Leading Layer-3 Blockchain Solution Orbs Announces TON Verifier

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8506/148162_87fc9a68843a88a0_001full.jpg

The TON Verifier marks a big step in bringing more transparency to the TON chain. Its potential for smart contracts is undisputed, yet users and developers aim for better accountability. Moreover, transparent and verified source code makes assessing the integrity of contracts straightforward.

Decentralized environments like the TON chain thrive on being trustless. However, users must still trust the code they interact with. Verified source code is one way of achieving that goal without friction. Orbs’ TON Verifier is a powerful tool when dealing with financial balances, transactions, accounting, etc.

The potential of smart contracts is very promising, yet humans write the code. A developer might want to change the code once their contract has been used to deposit funds. Another common threat is the backdoor in the contract, enabling culprits to drain the contract and its belongings. Conducting due diligence is paramount for users and developers. With TON Verifier, anyone can match the contract’s source code to the bytecode on-chain.

Through the new tool by Orbs, developers can upload smart contract source code and include a signed proof to ensure it compiles to the on-chain version. Contracts are verified through the app, which compiles and verifies the source.

If everything checks out, the app will receive a BoC, which the user can send to the verifier and sources registries. Should the compilation fail or there is a hash mismatch, users will receive suggestions to acquire the correct hash.

Orbs takes a decentralized approach to ensuring smart contract integrity. With its TEP-91 solution, users don’t need to rely on the Orbs-run backend. Instead, everyone can spin up a verifier, register it to the registry, and assign their backend. All sources are stored through IPFS, with a later migration to TON storage.

The TON Verifier by Orbs is a big step in the right direction to establishing trust and transparency. However, verified source code doesn’t always negate every risk. Users still need to conduct due diligence while analyzing code and its potential implications, regardless of matching on-chain bytecode. To that end, users can flag potentially misleading code to warn others about risks.

Orbs remains committed to the TON network and its future success. The team recently introduced Minter, used to deploy alt-tokens on TON. That project has given birth to nearly 500 tokens, expanding the ecosystem’s growth and appeal. Orbs builds tools to improve transparency and security for developers and users.

About Orbs

Orbs is a public and decentralized blockchain infrastructure operated via a secure network of permissionless validators and the Proof-of-Stake (PoS) consensus mechanism. The platform serves as a decentralized execution layer between existing layer-1 and layer-2 chains and the application layer. By enhancing the capabilities of EVM and non-EVM smart contracts, Orbs powers new use-cases for DeFi, NFTs, GameFi, and other emerging blockchain-based sectors.

About The Open Network (TON)

TON is a third-generation proof-of-stake blockchain designed in 2018 by the Durov brothers, the founders of Telegram Messenger. Later, it was handed over to the open TON Community, which has been supporting and developing it ever since. TON was designed for lightning-fast transactions, and it’s ultra-cheap, user-friendly, and fully operational.

Contact
Ran Hammer
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/148162

Previous post Celebrity Coin v2 (CCV2) Is Now Available for Trading on LBank Exchange
Next post New Generation Expert Advisor AntBot Launches Relative Value Strategy