CertiK Joins the CryptoChurch
The CryptoChurch is a Clubhouse group focused on technology and innovation, specifically relating to blockchain, cryptocurrency, and the emerging fields of DeFi and NFTs.
In line with their creed “Knowledge is Power,” hosts Darrian Aldridge and Cyn Bahati invited CertiK’s own Aaron Leibowitz to preach DeFi cybersecurity to the 22,000 members of the CryptoChurch congregation.
If you didn’t make it to the panel, don’t worry: we’ve got a roundup of what was discussed right here.
First up was an overview of the suite of security solutions that CertiK offers. This begins with pre-deployment auditing, where our team of experts manually reviews a project’s smart contract code.
After passing an audit, many projects opt to take advantage of our real-time monitoring tools. Skynet is the first of these. It’s a unified set of security tool chains that leverages automated technologies to check deployed smart contracts against our large database of known vulnerabilities.
CertiK’s Security Oracle leverages the data generated by Skynet to provide a holistic security score for a project. Users and developers can check this score — or have a smart contract pull it automatically — and set a minimum value that must be reached before interacting with the protocol. This helps protect DeFi users and their assets in real time.
Finally, the Security Leaderboard aggregates the raw data that Skynet and the Security Oracle provide and presents it in a legible, accessible form for all users. You can filter by project and check its audit history, social sentiment, and transaction statistics. CertiK has audited major DeFi projects like AAVE, Bancor, and Pancake Swap, and these all appear on the Leaderboard. It’s a free and open tool: there’s no signup required, you don’t need to connect your wallet, just head to CertiK.org and dive in.
Darrian highlights the necessity of accessible tools like the Leaderboard. The average user can’t read and audit smart contract code, but they still need to do their due diligence before investing in a project. The answer to this problem is the easily-accessible, legible data that the Security Leaderboard provides.
The next question is about the CertiK (CTK) token and how it’s utilized. Aaron starts by giving a quick history of CertiKOS — an ultra-secure operating system built by the Columbia and Yale computer scientists that founded CertiK. CertiKChain — the blockchain on which the CTK token lives — runs on CertiKOS. This operating system is secured by formal verification. While manual auditing can really only identify bugs that already exist in code, formal verification can mathematically prove the absence of bugs in all possible functions of the OS.
The CTK token is used to pay for CertiKShield. It’s also the currency in which claims are paid out. For those interested in investing in CTK, the easiest way to get your hands on some is to buy it on Binance. You can either keep it on the exchange or transfer it to your own wallet using CertiK’s DeepWallet.
The discussion turns to the current competitive landscape for blockchain security firms. There are a number of great auditing companies out there that keep in touch with each other — Aaron hosts a weekly DeFi Clubhouse chat with Rob and Steve from Halborn. All auditors are currently swamped with audit requests. CertiK alone currently has a month-long backlog of projects to be audited, so there’s more than enough work to go around as new projects are deployed every day.
The advantage that CertiK has over the competition is that we offer complete end-to-end security solutions. We audit code before deployment, Skynet and the Security Oracle monitor contracts in real time, and CertiKShield provides protection in the event of a covered loss or hack. This full suite of security tools covers as many attack vectors as possible and ensures peace of mind for both developers and investors.
CertiK’s comprehensive security toolset means users do not have to bounce around between multiple protocols to meet their auditing, monitoring, and reimbursement protection needs. It’s a streamlined process across the whole lifecycle of a smart contract.
After opening up the discussion to the audience, the first community question is if CertiK plans to open up its services to non-Ethereum blockchains like Polkadot and Cosmos. Aaron answers yes, definitely. To date, CertiK has audited dozens of Ethereum and Binance Smart Chain projects and we’re always looking to provide our services to new ecosystems. There’s a lot of exciting work going on and CertiK is ready to provide its end-to-end security solutions wherever the demand arises.
The next question comes from an audience member interested in the competition that CertiK sees from other security firms and soon-to-be-released insurance alternatives.
Aaron underscores that it’s hard to know how products that are still in the building phase will look once they’re actually released onto the market. The vision outlined in a whitepaper rarely reflects the finished product exactly. Users can look at CertiK’s offerings — which have firmly established themselves on the market — and know exactly what they’re getting.
The final question relates to CTK and its tokenomics, particularly the token’s emission schedule. CertiK has released a comprehensive roadmap for CTK which we will stick to for the life of the token. There will only ever be 100,000,000 CTK in circulation, with a current circulating supply of 36,596,527. CTK powers our auditing services, Security Oracle, and CertiKShield reimbursement pool. Investors and users can feel secure in the knowledge that CTK is a utility token with clearly-defined tokenomics and a bright future.
That wrapped up the discussion in the Clubhouse CryptoChurch. Keep an eye on our website and official social media channels for more blockchain security news, Q&As, and integrations in the future.
🌏 Auditing and Pen test Website: https://certik.io/
🌐 Skynet & CertiKShield Website: https://certik.org
🐦 Twitter: https://twitter.com/certik_io
🐦 Twitter: https://twitter.com/certikorg
💻 Github: https://github.com/CertiKProject
📚 Medium: https://medium.com/certik
✉️ Telegram: https://t.me/certikfoundation