Forta Network — a decentralized security & operational monitoring network
Disclaimer: This is not financial or investment advice. We hold exposure to $FORT tokens and recommend you do your own research.
In the last 3 years, over $4.2 billion were lost in smart contract exploits, however the impact on users, builders, creators, collectors, and investors is immeasurable.
The current approach to smart contract safety is lacking, and many builders understood during the last two years that simply auditing the code and assuming all is well is not enough. To truly prevent exploits and make web3 safe, we need more advanced dynamic solutions such as real-time monitoring and threat detection & mitigation.
Forta Network is a decentralized security & operational monitoring network for web3 infrastructure, developers, and investors. It allows users to subscribe to data feeds that provide alerts on real-time events that occur on the blockchain. These events can be security threats (e.g. attempts to attack a smart contract), operational events, and even governance events.
Underlying Forta is a decentralized network of independent node operators that scan all transactions and block-by-block state changes for outlier transactions and threats. When an issue is detected, node operators send alerts to subscribers, which enables them to take action. We like to think of Forta as a decentralized marketplace for cybersecurity and blockchain monitoring. This market allows all kinds of web3 users to participate — users, builders, investors, and in the future, institutions or any entity that uses public blockchains.
To guarantee the quality of service of nodes on the network, node providers are required to deposit $FORT tokens stake that guarantees honest behavior and high QoS. But Forta is much more — with the recent announcement of modular functionality, Forta’s detection bots can now be used as building blocks, creating modular interconnected detection products.
Forta Network is currently protecting over $30 billion in total value. They are not just pushing the boundaries of cybersecurity solutions, but also driving the thought leadership in the space. With research in threat detection and machine learning, Forta is pioneering the way for new security standards.
During the last few months, Collider Ventures has been building a long-term position in Forta Network, recognizing the crucial role of cybersecurity in scaling the crypto industry. Our thesis is that without a focus on safety, crypto and web3 will never reach their true potential.
We believe that security and safety are fundamental for the wide-scale adoption of crypto and web3. That’s why we see great potential in Forta Network as a key protocol in the future of the industry. To explore the community and learn more, check out their website, explorer, Telegram group, and documentation.
Website: https://forta.org/
Explorer: https://explorer.forta.network/
TG group: https://t.me/Forta_Network_Official
