Binance Labs, a binance cryptocurrency exchange incubator, announced on Monday that the company is investing in the launch of an intelligent contract and blockchain audit.
The firm, called CertiK, is trying to ensure the security of smart contract and blocking platforms with an official verification process. The team, according to a press release, has begun to make sure that existing block chain platforms do not contain errors that could result in loss of funds or other weaknesses.
The company was founded last year by Yale professor Zhong Shao, who is known to have developed a certified operating system named Ronghui Gu, assistant professor of CertiKOS and Columbia University.
The CertiK team works by applying mathematical evidence to networks to determine whether hackers violate systems.
According to the schedule, the team’s methods include kitaplık a layer-based parsing approach, pluggable evidence engines, machine-proof proof objects, certified [decentralized application] libraries, and smart tagging. Using these approaches, researchers claim they can objectively verify the security of a blockchain platform.
Although Binance Labs did not disclose the total amount of the investment, a spokesman said that CoinDesk had shares in exchange for millions of dollars.
The incubator’s CEO, Ella Zhang, announced at the time that the CertiK platform had at least one extraordinary need in the blockchain field:
CertiK mathematically verifies the security of intelligent contracts; this is a critical point of pain we encounter in the block chaining ecosystem and bypasses manual detection limitations.
In a statement, the investment in the block chain industry recognized the importance of formal verification, he said. In particular, CertiK has a unique advantage in its field with its history and proven technology.
This technology includes CertiKOS already used in both institutional and military programs and is one of the tools used by the US Defense Advanced Research Projects Agency (DARPA).