A lot of things can go wrong while developing and running a blockchain, and when a firm does this, millions of dollars are lost.
To resolve this, Columbia University Professor Ronghui Gu’s firm, CertiK Foundation carried out a security auditing of stablecoins and the underlying smart contracts of blockchain heavyweights along with Binance, TrustToken, and Bitfinex. Therefore, CertiK has released its native CertiK chain blockchain. The CertiK Foundation declared its Official release in a blog post on July 22.
As per the announcement, CertiK’s main purpose is to offer a highly secure blockchain infrastructure.
The entire nodes of the blockchain will run on the CertiKOS, which they refer as a “fully verified hypervisor / concurrent OS kernel” which offers a high level of security against hacking attempts. Moreover, the announcement says that the CertiK Virtual Machine supports the blockchain, that utilizes the firm’s Formal Verification Platform to ensure that it is implemented correctly.
Ronghui Gu said, “There are still many facets in this software… any single bug in any of these layers can compromise the entire system. That’s why we feel like although the services provided by the CertiK company is very useful, it still can’t solve the problem from the root. The CertiK Chain is the more foundational and better solution.”
Smart Contracts can be built on the functional programming language DeepSEA, that reportedly ensures security using the code. Moreover, any on-chain smart contracts will mainly have cryptographic certificates that serve as proof-of-verified security; smart contracts without these kinds of certificates could reportedly be run with extra fees, however.
According to the blog post, one of the claims of CertiK is that blockchain needs proper security to increase its size. CertiK expects that blockchain provides an ultimate solution that will result in the mass adoption of blockchain technology.
Due to increasing competition, CertiK Chain is betting that its security feature and ability to incorporate with the current blockchains will help the firm move ahead.
“As long as there are some dApps that have very high-security requirements, even if those are running on other blockchains, they can still deploy the security features provided by the CertiK Chain with our cross-chain technique,” stated Gu.
Based on its website, CertiK currently provides blockchain-based cybersecurity services via security auditing, penetration testing, and platform customization. Moreover, the firm has made collaboration with leading firms such as Binance, CertiK declared back in January.