Has formal verification technology stalled?

We all know that functional verification is the costliest and most time-consuming aspect of ASIC design –about 50% of the total cost, and from 40% to 70% of the total project duration. And we all know that simulation is by far the prevalent verification method, even though it is inherently incomplete due to an input space that is too large to be enumerated. So formal verification, which aims at completeness, should be a thriving field, given the impact it can have on the overall cost and schedule of ASIC designs.

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