The security company wants to build a formally secure blockchain for DeFi.

CertiK, a software security company active in the blockchain sector, announced the launch of its own customised blockchain, the CertiK Chain, on the main network.

The new blockchain focuses on security, turning the previously static process of intelligent contract analysis into a real-time protection system.

DeFi’s season could be over as Bitcoin and Ether Bitcoin Profit pack their bags for the moon
Professor Ronghui Gu, the CEO of CertiK, said: „The days of relying on off-chain security analysis, static security audit reports and unnecessary waste of time and money are over. CertiK Chain is „setting a new industry standard in block chain security protocols,“ he added.

The blockchain has a customised programming language called DeepSEA, which is designed to make a formal check – a mathematical demonstration that the code does what it is supposed to do – into a largely automated process.

Anonymous developers behind a DeFi yield farm could steal $1 billion in 12 hours
The block chain also has an interoperability approach through the concept of Security Oracles, which provide real-time analysis of intelligent contracts in other blockchains. The company says the feature can be used by intelligent contracts in other blockchains to assess the security of their peers. If the Oracle considers the target smart contract to be unsafe, developers can choose to avoid interacting with it on the fly.

The oracles will work through a system of clients and operators. End users or developers who wish to understand the security level of a particular contract will submit an application, funded with CTK blockchain tokens. The operators behind the oracles will perform the analysis and publish the results in the chain.

Quantstamp will audit the entire blockhchain of a new DeFi project based on Polkadot
Finally, the company is also organising an insurance mechanism to cover any loss of funds from hackers, called CertiKShield.

The launch of the main network follows a test network launched in March 2020. In early February, the project launched a demonstration of the DeepSEA language. CertiK is among the most active security auditors in space, having recently been selected as a partner to audit Binance’s Smart Chain and projects built on that platform.

Von Otto