New Alchemy’s Security Audit of blockimmo’s smart-contracts successfully completed

blockimmo
blockimmo
Jul 20, 2018 · 3 min read
Image for post
Image for post
Smart-Contract security Audit completed by New Alchemy

blockimmo AG — Zug, 20th July 2018 — During June 2018, blockimmo AG engaged New Alchemy to perform a security focused audit reviewing the smart contracts powering their blockchain platform for property investments and ownership.

The blockimmo AG smart contract platform implements a broad range of functionality through multiple interacting smart contracts. The smart contracts implement custom logic to support token creation, token sales, shareholder voting mechanisms, and a blockchain-to-real world linked property registry.

blockimmo’s platform contracts exhibited many positive characteristics including extensive reuse of well known libraries, very modularized source code, and [90] well documented and thorough unit-level test cases. The blockimmo development team also took care to follow a number of best practice coding guidelines.

New Alchemy classifies issues it finds into three categories: critical, moderate, and minor. New Alchemy’s final conclusion was that there were no critical or moderate issues, one minor security vulnerability and an inconsistency between the smart contracts and white-paper. Both of these issues have since been resolved.

‘blockimmo engaged the New Alchemy’s Blockchain Security team for the security audit of a set of their smart contracts. Our engineers found the contracts to follow many of the best-practice guidelines that have been used by the community, and applauded the blockimmo team for their well-written code. The absence of critical findings in our report is a positive indicator of our confidence in their work.’ — Arash Oliaei, General Manager, Blockchain Security.

‘We are thrilled with the results of the thoroughly conducted audit by New Alchemy’, said Bastiaan Don, Managing Director of blockimmo AG. ‘Thanks to their professional approach we are now even more confident that our code is solid and we’re are preparing the next steps to launch the platform soon.’

The full audit report done by New Alchemy can be found by following this link.

About New Alchemy
New Alchemy is a strategy and technology advisory group specializing in tokenization. New Alchemy coordinates successful ICOs for its clients by providing them with C-level strategy, smart contract development, project management, token game theory, and marketing services. A company that truly understands the disruptive nature of blockchain technology and tokenization, New Alchemy is shaping the blockchain industry’s impact on society. Founded in 2016 by early Bitcoin innovator Peter Vessenes, New Alchemy has quickly established itself as the leading consulting group in the blockchain/tokenization industry. To learn more, visit www.NewAlchemy.io.

About blockimmo
blockimmo is a blockchain powered regulated platform, our ecosystem enables shared property investments and ownership. Properties are officially and legally represented as asset-backed tokens on the Ethereum blockchain. Their legitimacy is guaranteed by our legal framework which works in-sync with our technology.

Starting in Switzerland, blockimmo is focused on facilitating an accessible, streamlined real-estate market, while delivering value to our users one step at a time. Showing that blockchain offers real world benefits, and helping existing entities like cadasters explore and adopt this technology. — blockimmo.ch

blockimmo

Facilitating an accessible, streamlined real-estate market

Medium is an open platform where 170 million readers come to find insightful and dynamic thinking. Here, expert and undiscovered voices alike dive into the heart of any topic and bring new ideas to the surface. Learn more

Follow the writers, publications, and topics that matter to you, and you’ll see them on your homepage and in your inbox. Explore

If you have a story to tell, knowledge to share, or a perspective to offer — welcome home. It’s easy and free to post your thinking on any topic. Write on Medium

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store