Formal modeling involves the application of rigorous mathematical and logical techniques to represent and analyze systems. It uses precise language and structures to define system properties, behaviors, and interactions, enabling verification and the deduction of logical consequences. This approach is crucial for establishing the correctness and security of complex protocols and smart contracts.
Context
The application of formal modeling in the cryptocurrency and blockchain space is increasingly emphasized for its role in enhancing the security and reliability of decentralized systems. Debates frequently arise concerning the scope of formal verification, the choice of modeling languages, and the practical challenges of applying these methods to intricate smart contract codebases.
This research establishes a foundational, abstract model for Maximal Extractable Value, enabling rigorous security proofs and advancing blockchain integrity.
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