CertiK - Creating a zero-defect contract (block-chain vaccine)

in #certik3 years ago
  • This article is translated from Korean into English, so it may be unnatural.
  • This article was created by ICO listing site ICOteg.com

CertiK surfaced a while ago because of the investment by Binary Lab. It can be thought of as a kind of block chain vaccine that originated from the security problems existing chains have. It's closer to prevention than it's been attacked by hackers.

If there is a code vulnerability in a smart contract, the issuer must conduct a sufficient review before it can be generated because there is a risk of copying or hacking the token. However, there is still a short supply of technicians with high skills, and some of the teams are creating prototypes for rapid funding, which can lead to coding issues. A case in which a huge amount of ERC20 duplication token was deposited on a certain exchange a few days ago, and transmission error of an icon is a close example.

As such, CertiK finds bugs and errors due to incorrect code writing, and the user who requests the review will purchase the utility coin CTK and pay for the service.

The advantages of the circuit are as follows.

  1. The only team with proven systems in this area
  2. Potential Demand
  3. Less Competitors
  4. Improved completeness of verification through community incentives

Major members are from Yale and NGC / Binance Labs / Link VC / XRP Capital are invaders.

CertiK is definitely an attractive product when there are few developers on cryptography and new projects are pouring. Moreover, in reality, there are still issues arising from coding mistakes. However, as the market grows, the number of high-quality human resources is expanded, and conglomerates such as Daewoo, Amazon, and Huawei declare BaaS development. It is also a hard part to say.

Nevertheless, given the fact that the market standard has not yet been established, if CertiK is to produce the finished product in the near future, it is likely that there will be a chance of succeeding in raising the short term success and the enterprise value afterwards.