centralized application
- (Apps using DApps / blockchain) and cryptocurrency projects focusing on maintaining the security of blockchain.
- Cryptocurrency exchanges can deploy CertiK to prepare for hacking damage and “mathematically” verify the security status of smart contracts and blockchains.
- It will be a project that mainly provides services for “companies that want to store crypto currencies safely”.
- The abbreviation is “CTK”.
What’s amazing?
CertiKShield
This is a decentralized “insurance” -like product that works when cryptocurrencies are stolen.
Think of CertiKShield as having “two participants” in a broad sense.
- Those who want to earn interest income by depositing CTK (unique token)
- Those who want to protect cryptocurrencies from hacking
In conclusion, if the person in (2) loses the crypto currency due to hacking or a code vulnerability, he / she can be compensated from the pool in which the person in (1) is deposited.
First of all, when the person (1) deposits the CTK, the so-called “insurance premium” paid by the person (2) becomes the source of income.
However, when actually hacked, the contract is such that the person in (2) can receive compensation from the pool of the person in (1).
Person (1) is called a “liquidity provider”, and instead of pursuing the risk that must be compensated for during hacking, it is a mechanism that can usually earn interest income.
Security oracle
Another product of CertiK is Security Oracle.
Security Oracle is a product that can analyze the code of a certain project and give a “security score”.
This allows you to mathematically verify the security of any blockchain and prevent damage such as hacking in advance.
CTK, CertiK’s unique token, will also be used to pay the “reward” for this mathematical verification.
Who makes it?
CertiK was developed by excellent former engineers from Google and Facebook.
In addition, CertiK co-founder “SHAO Zhong” is a professor at the prestigious Yale University, and co-founder “GU Ronghui” is an assistant professor at Columbia University.
What is the future?
“Security” is an industry-wide issue
Hacking on crypto exchanges is still occurring on a regular basis.
CertiK protects cryptocurrencies from hacking damage that can cost tens of billions of yen, or even hundreds of billions of yen in some cases.
It means that there is a strong need in the sense that we are presenting solutions that answer the worries of the entire industry.
The unique token CTK is used in the products introduced above, CertiKShield, and Security Oracle.
Since there are clear “usages” such as smart contract usage fees, staking fees, and insurance payments, token prices are expected to remain firm.
CertiK partner materials
CertiK also has the advantage of partnering with many well-known projects and companies.
You can see the high expectations for future projects.
For example, the well-known cryptocurrency project “Ontology” has already announced cooperation with CertiK.
The two companies will work together on security verification to enhance the reliability of the service.
In addition, Liquid Group Co., Ltd., known for “Liquid by Quoine”, which holds a license for the “crypto Currency Exchange Business” of the Financial Services Agency of Japan, has a business alliance with CertiK.
In September 2019, in partnership with Tokyo blockchain company “TEAMZ”, CertiK also achieved expansion into Japan.
In addition, we have partnered with major exchanges Binance,
It can be said that it is proof that many companies and investment companies with name value judge that “CertiK is a necessary project”.
