Blockchain security company CertiK: Beta version for Smart-Contracts-Chain

According to a November 22 press release, the CertiK Foundation will soon release the open beta version Testnet 3.0 for the CertiK Chain. This will enable Smart Contracts to detect security audits on other Smart Contracts before a transaction is executed.

The CertiK Virtual Machine (CVM) is fully compatible with Ethereum’s EVM, ensuring that the existing Solidity Smart Contracts function smoothly. As the CertiK chain is based on the Cosmos network, Solidity Smart Contracts are also possible in the Cosmos network.

 

Publication and possible applications

With the release of the open and public beta version, the company wants to make scaling and block validation efficient. The CertiK Foundation told Cointelegraph that the chain could be used in many application scenarios, including decentralized financing and staking.

The company explained that users can search for evidence of security audits before staking crypto currencies. Depending on what this search results in, a user can also send several small amounts. The CertiK Foundation explained:

“If the blockchain eventually becomes as disruptive as people expect, and smart contracts (such as DAOs) interact with other smart contracts, the ability to check security on-chain would help eradicate malicious players. The CertiK Chain also offers a sandbox for smart contracts. This allows them to be tested in a simulated environment for dynamic testing. This would be useful both for the deployment of new contracts and for the implementation of upgrades to existing contracts”.

 

Other security features

In the coming publications, the company intends to install additional security functions to eliminate malicious actors on the blockchain. The CertiK chain runs on CertiKOS, “the world’s only fully certified operating system kernel and hypervisor. This allows CVMs to execute Smart Contracts developed in the DeepSEA programming language.

The CertiK Foundation launched its proprietary CertiK Chain Blockchain at the end of July following an investment by Binance Labs in 2018. At the time, the company said that Smart Contracts can be developed on the CertiK Chain in the functional programming language DeepSEA, which guarantees security through the code.

As previously reported, the Ethereum Foundation provided funding for the DeepSEA project in March. The open source blockchain project Qtum already financed DeepSEA in December with 400,000 US dollars.