2. The computer-implemented method of claim 1 , wherein executing the proof algorithm comprises: establishing the specified resource limit to enable less than a complete run of the proof algorithm on the design model, wherein a pre-specified resource limit is selected from among a time limit, a depth limit, and a hardware resource usage limit; and executing the proof algorithm for only a preset limit, wherein the proof algorithm iterates over a series of timesteps corresponding to states extending from an initial state (t0) to a subsequent state (tk) at which a proof condition holds true over a first k timesteps for a set of bounded invariants identified at the respective states, wherein said set of bounded invariants hold true for a particular state from the initial state and wherein the invariants each refer to one or more components of said design.
2. The computer-implemented method of claim 1 , wherein executing the proof algorithm comprises: establishing the specified resource limit to enable less than a complete run of the proof algorithm on the design model, wherein a pre-specified resource limit is selected from among a time limit, a depth limit, and a hardware resource usage limit; and executing the proof algorithm for only a preset limit, wherein the proof algorithm iterates over a series of timesteps corresponding to states extending from an initial state (t0) to a subsequent state (tk) at which a proof condition holds true over a first k timesteps for a set of bounded invariants identified at the respective states, wherein said set of bounded invariants hold true for a particular state from the initial state and wherein the invariants each refer to one or more components of said design. 3. The computer-implemented method of claim 2 , further comprising: incrementally refining and extending a sequence of sets of invariants representing bounded invariants and determining a relevance of the one or more design components referenced in the invariant clauses by: evaluating, for each invariant, whether the invariant is an unbounded invariant that is first introduced at a specific timestep between the initial and the kth timestep; deterministically assigning relative priorities to one or more design components referenced in the invariant based on the specific timestep at which the unbounded invariant is introduced; determining for each design component referenced by an invariant, if the design component has a priority that is equal to a highest priority assigned among the design components; and in response to the design component not having a priority equal to the highest priority assigned, identifying the design component as a cutpoint and replacing the design component with the cutpoint within the abstracted design.