Victor Ugochukwu · Dec 14, 2020 . 5min read
Cybersecurity Firm CertiK Joins Forces with Binance Smart Chain
Binance Smart Chain joins forces with CertiK to accelerate security implementations in the rapidly expanding DeFi sector.
By Komal Joshi · Sep 24, 2020 . 6min read
2020 has demonstrated to be a critical year for DeFi. It has been an extensive topic of discussion in the blockchain space. DeFi enables users to manage their assets, allowing them to unfasten new value forms. Binance Smart Chain (BSC) has collaborated with CertiK to help projects build on top of the Binance Smart Chain build trust and follow best practices and raise security standards throughout the entire ecosystem. CertiK is a leading enterprise in blockchain cybersecurity.
Intricate Details about Binance Smart Chain
Binance Smart Chain, developed by Binance and global developers, is a dual-chain architecture. It promotes users to use one blockchain for developing digital assets and decentralized apps while trading quicker with inexpensive transaction fees. Various DeFi projects are either exploring with their new ideas or porting their protocols to BSC.
CertiK is a cybersecurity company. It strives to verify the blockchain ecosystem mathematically, and smart contracts are hacker-resistant and bug-free. CertiK has led strategic collaborations with the world’s top Exchanges like OKEx, Binance, Kucoin, and Huobi, as well as Public Chains like ICON, NEO, and QuarkChain. It is nurtured and financed by Binance Labs and other world’s driving investors like DHVC, FBG Capital, Bitmain, and Lightspeed.
However, there can be no proper decentralized and permissionless products in the blockchain space without trust and security. The success of any blockchain depends on the correctness and robustness of the source code. This is where CertiK plays its role.
CertiK will Provide Cybersecurity Services to Binance Smart Chain.
CertiK will offer Binance Smart Chain with best-in-class cybersecurity services like customized security audits and penetration testing. Additionally, it will also provide decentralized security products like CertiK Security Oracle scores and CertiKShield reimbursement pools. CertiK will further assure that transactions and smart-contract interactions on BSC follow the industry’s highest standards. However, CertiK’s technologies can recognize fraud and oozed sensitive information.
However, to offer a secure chain, CertiK employs its years of experience to develop a safer ecosystem on BSC and boost DeFi dApps growth. By countering vulnerabilities over the BSC landscape, the merged forces between Binance Smart Chain and CertiK will contribute to the sustainable blockchain industry.
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