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Errors may exist in various stages of the development process and errors become more expensive as they move through the software development lifecycle, and it¡¯s more cost effective to fix bugs earlier than later.
So, a formal methods are needed.
Formal methods are various mathmetical techniques used for the formal specification and development of software.
Formal specification is usually used in requirement and design phase as formal requirements specification, formal design specification.
Given such a specification, it is possible to use formal verification techniques to demonstrate that a system design is correct with respect to its specification.
Formal specifications describe what a system should do.
Generally adds robustness to software and increased confidence in its correctness.
Safety critical area is one domain to which mathematical techniques have been successfully applied.
Likewise, Smart Contract is Finance Critical system.
Therefore, in the early stages of smart contract development, errors and contradictions must be corrected through formal methods.
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IEEE/ICACT20210216 Slide.07
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