Set-Based Models for Cryptocurrency Software

Formal methods (FM) are mathematics-based software development methods aimed at producing ``code for a nuclear power reactor''. That is, due application of FM can produce bug-free, zero-defect, correct-by-construction, guaranteed, certified software. However, the software industry seldom use FM. One of the main reasons for such a situation is that there exists the perception (which might well be a fact) that FM increase software costs. On the other hand, FM can be partially applied thus producing high-quality software, although not necessarily bug-free. In this paper we outline some FM related techniques whose application the cryptocurrency community should take into consideration because they could bridge the gap between ``loose web code'' and ``code for a nuclear power reactor''. We include relevant case studies in the area of cryptocurrency.