CertiK, a Web3 and blockchain security firm, has launched new web3 Skynet security features to bolster end-to-end security for the web3 world.
US-based CertiK was founded by computer science professors Ronghui Gu and Zhong Shao. It deploys cutting-edge innovations from academia into Enterprise, enabling mission-critical applications to be built with security and accuracy.
CertiK is backed by prominent VCs, including Insight Partners, Tiger Global, Sequoia, Coatue Management, Advent International, Goldman Sachs, Lightspeed, SoftBank Vision Fund 2, Hillhouse Capital, Binance, Coinbase Ventures, and more.
Following the loss of over $1.3 billion in cryptocurrency assets to cybercriminals in 2021, demand for blockchain and crypto security is increasingly high in 2022. The sector lost more than over $1 billion in crypto losses in the first quarter of this year as a result of four significant bridge attacks, and more than $200 million as a result of numerous flash loan attack.
CertiK recently released on its Twitter an autonomous security alert channel, which provides real-time alerts to the community on hacks, flash loan attacks, rugpulls and suspicious activity. To date, CertiK has flagged over $1.45 Billion in security incidents since the release of the service in February this year.
The growing demand for Web3 security has driven further development and operation of more innovative and data-driven security products for the blockchain industry. CertiK is meeting these demands through innovative products like Security Leaderboard, Code Auditing, KYC and now this next series of Skynet security features.
New features include:
- Skynet Trust Score – a new scoring mechanism aimed at simplifying the definition of crypto project risk, increasing transparency into scoring mechanisms and demonstrating market health.
- Skynet Cohort Analysis Panel – a way for projects to see how they rank against other similar projects in order to help users contextualize the risk of a project by displaying its performance against comparable projects.
- Badges and honors for project achievements to strengthen credentials in their respective fields
Launched in June 2021, the Skynet service uses a comprehensive set of signals, curated from code scanning analysis, on chain security analytics, and machine learning to provide 24/7 monitoring of threats for crypto projects. To date, Skynet has helped to protect and monitor over 4 billion transactions.
As part of its strategy, CertiK set out on a mission to address both business and consumer value services through its security leaderboard found on its website. CertiK’s release of new Skynet features provides further simplicity and transparency to consumers around project risk, while also giving credit to projects where needed through badges and honors.
Kevin Liu, Chief Product Officer at CertiK, said:
“Through feedback from customers and the community, we’ve recognized the need to innovate around security risk in a simpler way that caters to both business and consumer needs. This is just the beginning of our journey as we continue to innovate in response to community needs and deliver on our promise of securing the web3 world.”
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