Quantstamp, a blockchain security firm, is working with the team behind Avalanche to enhance the platform’s security. The two firms optimized the security of the Avalanche network by auditing the protocol and recommending improvements.
Equipped to Help DeFi Reach its Potential
DeFi composability enables the creation of powerful applications, but the independent development of DeFi protocols can create security issues as we have seen with the many hacks that have taken place this year alone.
Avalanche aims to provide a strong, scalable foundation for DeFi apps. Avalanche’s contract chain–a highly scalable implementation of the Ethereum Virtual Machine–is compatible with all of the key Ethereum tooling that has fueled DeFi’s growth to-date, including MetaMask, Web3.js, Remix, Truffle Suite, and Embark Platform.
Through partnerships with projects like Chainlink to natively integrate its oracles and Avalanche-X, an accelerator program that provides guidance and funding to projects, we’re helping pioneer the next wave of innovation in DeFi.
Layer 1 Security with Quantstamp
By optimizing the security of the platform, Avalanche is better equipped to cater to the needs of decentralized and traditional finance including the regulatory and geographical complexities of globally traded digital assets.
Quantstamp has secured over 5 billion USD worth of digital assets and more than 120 blockchain products for enterprises, foundations, and start-ups. Quantstamp also provides security services to other Layer 1 protocols including ETH 2.0 via their audit of the Prysm client.
With enhanced security, Avalanche is making it even more seamless for developers to build, launch, and scale decentralized applications on a secure, trusted foundation.
About Avalanche
Avalanche is an open-source platform for launching decentralized finance applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Developers who build on Avalanche can easily create powerful, reliable, and secure applications and custom blockchain networks with complex rulesets or build on existing private or public subnets.
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