The ConsenSys team announced the tool’s open source launch on August 1. The main purpose of the product is to identify vulnerabilities in smart contracts before they are launched by generating “random and invalid data”.
ConsenSys believes the usefulness of such tools has multiplied due to losses of over
$2.8 billion from hacker attacks on decentralized finance (DeFi) in 2022. As a result, many companies have begun looking for a more versatile and effective solution to identify potential weaknesses in smart contracts and mitigate financial risks.
Under ConsenSys’ proposed framework, developers can use the Scribble machine programming language to annotate their contracts. These annotations will allow Diligence Fuzzing to generate “unexpected inputs” that will then be used to assess the contract’s resilience to manipulation and inadvertence.
The Diligence Fuzzing tool was initially available to users through a closed beta version, access to which required developer approval. ConsenSys released Diligence Fuzzing to the public as of August 1, and integrated it with the Foundry smart contract toolkit.
According to a July survey, Consensys experts say 92% of the world’s population has heard of cryptocurrencies. However, residents from countries with unstable financial systems are most interested in them.