LNX concludes its smart contract audit on CertiK with an outstanding score of 99/100
Smart contracts are the essence of Distributed Ledger Technologies. They are the brain and one of the main reasons why decentralized communities came to a realization. Without a middleman, every decentralized network depends on smart contracts and they must not only be just but also flawless.
CertiK, a blockchain cybersecurity company, has one of the world’s most advanced formal verification technology for smart contracts and blockchain ecosystems. This week, LNX’s smart contract has gone through a comprehensive audit and we are happy to announce that the LNX Protocol smart contract has received an outstanding score of 99 out of 100 points!
The report showed that the smart contract had no found issues on all three levels of vulnerability, emphasizing even more the transparency and robustness of the LNX Protocol. This result is indeed a great step for LNX and we promise our community that we will continue to do our best to deliver the utmost result.
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CERTIK’S FORMAL VERIFICATION SERVICE:
“Unlike manual security checks, Formal Verification examines the entire code logic at-scale and mathematically ensures your program works only as it’s intended to. To do that, Formal Verification thoroughly checks your program by calculating it against every possible value for all variables.
Formal Verification attempts to prove or disprove that the intended algorithms, protocols, or business functionalities are working the way they’re supposed to be. Rather than depending on error-prone human judgment, mathematical systems can calculate against near-infinite scenarios. By applying rigorous and complete mathematical reasoning against code, Formal Verification goes wider and deeper than any human team can.”
The LNX Protocol is the world’s first DAG infused blockchain distributed ledger that provides expandable scalability, instant confirmation, and security against double-spending and Sybil attacks. The MATRIX Chain remains open-sourced, permission-less, and distributed. Our breakthrough consensus algorithm, the Proof of Check and Balance (PoCB), breeds the self-sustaining and decentralized ecosystem through a counterbalance of power. The LNX platform offers a new paradigm that solves the current predicaments of the decentralized economy at stake.
CertiK is a blockchain and smart contract verification platform founded by top Formal Verification experts from Yale and Columbia University. Incubated by Binance Labs, Certik has strategic partnerships with the world’s leading crypto exchanges such as Binance, OKEx, and Huobi, as well as protocols such as NEO, ICON, and QuarkChain.
CertiK’s formal verification method works differently than traditional testing approaches: rather than working manually, CertiK mathematically proves blockchain ecosystem and smart contracts are hacker-resistant and bug-free at scale. CertiK has secured over $4B in asset value, auditing several projects across all major protocols, including BNB, Terra, Crypto.com, and TUSD.
Stay tuned, and we thank you for all the support!