Informal Systems is a worker-owned organization dedicated to enhancing the security and reliability of distributed systems and blockchain infrastructure. The company specializes in security audits for cross-chain protocols and core blockchain infrastructure, utilizing formal verification methods and model-based testing techniques to deliver industry-leading results. Informal Systems serves clients in the blockchain and distributed systems markets, including developers and organizations that require high levels of security and verifiability in their protocols. The business model revolves around providing specialized security audits, formal verification tools, and contributing to the development of the Cosmos interchain ecosystem. Revenue is generated through service fees for security audits, licensing of formal verification tools, and operating as a Proof of Stake validator within the Cosmos network. Informal Systems is a core developer of the Cosmos Network software, focusing on the Tendermint consensus engine and the IBC interoperability standard.

Keywords: security audits, formal verification, blockchain infrastructure, cross-chain protocols, Cosmos ecosystem, Tendermint, IBC, model-based testing, Proof of Stake validator, distributed systems.