Ernst&Young launched a beta version of a service for analyzing tokens and smart contracts

Аудиторская фирма Ernst&Young (EY) представила открытую бета-версию сервиса для анализа токенов и smart contracts in order to identify risks, verify the quality of the code and the effective functioning of the functionality.

В период тестирования сервис может анализировать only smart contracts based on the ERC-20 standard, written in the Solidity programming language. It is reported that the test service will be “launched” in the near future, while Ernst&Young has not yet announced whether other protocols will be supported.

Looking through the code of their contracts, investorswill be able to track changes in software and maintain compliance of tokens and smart contracts with accepted industry standards. To determine the stability of tokens, they can be subjected to “stress testing” in several scenarios with transactions, while data from the Ethereum blockchain will be used.

Previously Head of Blockchain InnovationEY Paul Brody (Paul Brody) said that the company's customers are increasingly began to control investments and key business processes using software code.

"We don't run enterprise computingsystems without antivirus tools. It only makes sense to work with blockchain-based investment systems in which tokens and smart contracts can be tested,” — Brody clarified.

EY service will become part of the analyticalEY's Blockchain Analyzer, a tool that collects transaction data by providing financial statements and audits using blockchain. The second iteration of the Blockchain Analyzer increased the number of supported protocols, including closed blockchains, and also allowed to analyze transactions with proof of zero disclosure.

In October, EY introduced a solution on the blockchain,enabling governments to track and analyze their own transactions. The company believes that such a solution will improve transparency and provide more efficient management of public funds.

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