4/3/2023 0 Comments Lightpaper githubThe CertiK Chain, a security-first, delegated proof-of-stake blockchain, acts as the bedrock for which the future of blockchain security is built. Utilizing the Security Oracle, the CertiKShield reimbursement protocol, and the most secure smart contract programming language in existence, DeepSEA, we can ensure the security of blockchain across the entire lifecycle, from development to post-deployment. The CertiK platform is a multi-faceted security solution for blockchain. In the true spirit of blockchain, users should have access to on-chain, decentralized security intelligence that is immediately accessible to anybody at any time. We want to fix this by providing provable trust for all. These early adopters, who should be treated as the most valuable asset, end up being guinea pigs who take on the brunt of the risk. Unfortunately, many early adopters of crypto don’t have the time or technical expertise to interpret the security analysis. Instead, smart contract users are expected to DYOR and dive into these audit reports themselves (if they’re even public) to conclude whether their assets are safe. Even though the final audit reports contain crucial information about the reliability of the code, the analyses are unable to be used at the time when they’re needed most - right before a transaction is completed. Today, the security analysis of smart contracts and on-chain protocols relies on a group of centralized organizations called security auditors, who conduct audits with varying degrees of rigor. Securing the crypto space is like a game of Cops and Robbers - as developers mature in figuring out how to protect themselves from known attacks, the Robbers keep trying to find different ways to steal the loot. The bug in the unaudited smart contract prevented the consensus of the community (among other issues) in regards to governance, and as a result, there was no way to vote a fix for the issue.Ībove are just some of the hacks which have occurred in 2020 due to flaws in their smart contract. The recent DeFi boom saw the birth of YAM Finance, a DeFi protocol and corresponding token (YAM), which fell 99% in value from $100 to ~$1 due to a flaw in the smart contract underpinning the protocol. Hot fact: The aforementioned hard fork is the reason both Ethereum (ETH) and Ethereum Classic (ETC) exist in unison. A hard fork occurred, much to the dismay of many crypto purists, and the funds returned. However, the story of Ethereum didn’t end there (you’re reading this now, right?). Three months later, The DAO was, effectively, defunct. The hacker was able to drain 3.6m ETH, that’s around $1.2B in value as of September 2020. The DAO (Decentralised Autonomous Organisation), who conducted one of the first ICOs, fell victim to a hack due to a flaw in the smart contract it was written upon. In June of 2016, the Ethereum Network was shaken by a malicious attack, the ripples of which are still felt today. CertiK - Security Infrastructure for Blockchain The Problem
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