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Staky Spotlight: CertiK (CTK)

Founded in December 2017 by Roghui Gu and Zhong Shao, CertiK is headquartered in the Greater New York Area. It has already emerged as a pioneering company in cybersecurity with its high-end Formal Verification technology on smart contracts and blockchains. The company aims at delivering provable trust solutions across all aspects of blockchain technology. The CertiK ecosystem consists of a wide variety of solutions that include the CertiK shield, the CertiK Security Oracle, CertiK Chain, CertiK QuickScan, DeepSEA, and CertiKOS. In the following segment, we would look into each of these solutions separately.

The CertiK Family of Blockchain Security Solutions

#1. CertiK Shield

Between 2018 and 2020, the world of cryptocurrency witnessed cyber stealing of crypto assets worth US$7.1 billion. CertiK Shield aims to fix this problem. It provides a decentralized pool of CertiK coins that the members of the CertiK shield can use to reimburse any crypto asset that has either gone lost, been stolen, or has become inaccessible.

#2. CertiK Security Oracle

The primary purpose of blockchain oracles is to create an interaction between the off-chain data and the smart contracts. It helps to send external data into and out of smart contracts. The CertiK security oracle helps those who want to assess the security of a contract. To deliver this, the CertiK Security Oracle retrieves a set of security scores from a decentralized network that consists of security operators. These security operators have to assess the reliability of the source code. In exchange for this service, they get CTK coins as rewards. The CertiK Security Oracle puts all these assessments together and creates an on-chain aggregate score. This aggregate score works as an indicator of the levels of security a contract possesses.

#3. CertiK Chain

The CertiK chain is the blockchain on which all CertiK solutions are built. It equips the solution with built-in components that help to handle the business chain security inquiries.

#4. CertiK Quick Scan

Like any other security scan service, the CertiK quick scan examines smart contracts that have already been deployed against a set of known vulnerabilities. The scan offers security scores that help to gauge the risk potential of the contract of getting hacked or experiencing probable malfunctions in the code.

#5. CertiKOS

CertiKOS is the first-ever fully certified multi-core operating system kernel. The OS is built as a hacker-proof and functionally correct one that leverages the Formal Verification technology to make sure that the programs run as precisely as they are intended to.

#6. DeepSEA

At its core, DeepSEA is a language to write smart contracts. It was originally devised to implement systems software such as the OS Kernel. It can handle extremely complex codes while verifying them through Coq proof assistants at the same time. DeepSEA also helps to apply Formal Verification technology to almost any challenging task. It allows building a completely verified program enriched with the properties of equational reasoning, layered specification, encapsulation and composition, and built-in abstract refinement.

Apart from these solutions, CertiK also has its wallet named DeepWallet. One can access it through any web browser. The users can leverage their DeepWallets to check their token balance, redeem rewards, and peer-to-peer transactions. Apart from these traditional features, the DeepWallet also enables its owners to delegate stakes and deploy smart contracts. CertiK also has virtual machines that support Formal Verification technology. The virtual machine enables smart contracts to interact differently with each other as per their risk tolerance levels. It also supports a smart contract sandbox that helps to segregate smart contracts, especially the yet to be secured ones, from the system.

CertiK Tokenomics

The native token of the CertiK ecosystem is denoted by the ticker CTK. Its market capitalization is around 25 million US dollars. The circulating supply, so far, stands at 24,701,229 CTK coins. The return on investment for CertiK coins stands at a staggering high of more than 9000%. The all-time high CTK price was USD 1.94 on 27th October 2020.

The CertiK Foundation conceived the CTK coin as a non-refundable functional utility token. The participants in the CertiK network can use these coins as a medium of exchange. The CertiK coins have not been developed as a medium of exchange for the public to use as a medium of payment to buy goods or services or discharge an outstanding debt. Holding CTK coins also does not mean shareholding or participation in any form in the Foundation. Apart from being a medium of exchange, CertiK also finds use as a reward. Rewards that will encourage the participants in the network to contribute to the platform and maintain it.

CertiK: Some Recent Milestones

  • A WNXM shield pool has been added to the CertiKShield solution bunch. Through this new addition, the holders of WNXM will get the opportunity to purchase shields that would protect them from hacks and code malfunctions.
  • CertiK users can now redeem their CTK holding with Shentu Games points. One needs to log in with his or her DeepWallet to avail of the facility.
  • Kava has also joined CertiK shield. With a CertiK membership, Kava will be eligible to claim reimbursement for lost tokens. The membership is also available to the wider network of $KAVA holders.
  • Multiplier Finance has also struck a collaboration with CertiKShield to avail cover for tokens lost or stolen.

To grow organically, CertiK expects to collaborate with the community at large through its CertiK Chain Ambassador Program. It plans to rope in enthusiasts through this program by allowing them early access to bounties and contests, exclusive access to the Foundation’s special events, and offering them a host of CertiK swag and gifts. How this strategy carves the future growth trajectory of the Foundation will be interesting to see. From what we can see, the future looks secured and bright for CertiK.

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Staky.io a user-centric staking platform:

First and before anything else, Staky is a staking platform that has been designed to provide our delegators the most advanced staking experience on the market. Here are few of our features:

  • 💻 Dashboard and rewards tracking: our dashboard services will provide you a detailed history on your balances and rewards in order to track all your PoS coins with ease in the same place!
  • 🗳 Governance: A good validator is meant to represent its delegators. That’s why we’ll deploy Governance Smart contracts (on compatible ecosystems) in order to allow our users to actively take part in our decisions, our platform will therefore be led by our users!
  • 🤖 Telegram bot: It’s often complicated for crypto investors to closely monitor each network proposition or even the rewards, that’s why we’ll deploy a Bot that will keep you personally informed about all your cryptocurrencies network proposal and personal rewards!

Delegate your CTK to staky.io :

Tutorial : https://medium.com/staky-io/how-to-stake-your-ctk-certik-and-earn-rewards-e47390eaa303

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