XODE Blockchain, the first homegrown blockchain from the Philippines, achieved a significant milestone on August 7, 2024, by receiving a CertiK Security Score of 86.75 percent. This high score has earned XODE Blockchain an “AA” rating, placing it within the top 19 ranks among all projects audited by CertiK. This rating means XODE Blockchain now belongs to the top 10 percent percentile group among the projects audited by CertiK, marking a significant achievement for the Philippine blockchain industry.
Detailed Audit Scores and Category Rankings
The audit results for XODE Blockchain revealed impressive scores across various categories. For the Code Audit, XODE Blockchain achieved a 91.91 Category Score, which positioned it in the top 10 percent percentile. In the Fundamental Category, the blockchain received a score of 87.81, maintaining its top 10 percent percentile status. Additionally, XODE Blockchain was awarded its KYC Gold Verified badge on June 12, 2024. In the Operational Category, XODE earned a score of 79.23, placing it in the top 25 percent percentile. Lastly, in the Community Category, XODE scored 88.13, positioning it in the top 40 percent percentile.
Importance of CertiK Audits
Audits are crucial for ensuring the security and stability of blockchain projects, and CertiK is the industry leader in this field. Established in 2018 by professors from Columbia and Yale, CertiK has become a pioneer in blockchain security, utilizing advanced Formal Verification and AI technology to secure and monitor blockchains, smart contracts, and Web3 applications. CertiK’s team of expert auditors has extensive experience, having completed audits on over 3,500 projects, uncovered more than 60,000 findings, and secured over $300 billion in assets. Their auditing process is rigorous, involving meticulous examination of a project’s design, architecture, and source code to identify any vulnerabilities or weaknesses.
XODE Blockchain’s Future Plans
XODE Blockchain’s founder, Gene Son, expressed satisfaction with the results of the CertiK audit. He noted that an “AA” score is very impressive and ranks the project in the top 19. He acknowledged that while a triple “A” score is the ultimate goal, achieving an “AA” is a significant step towards it.
Co-founder Harold Glenn Minerva outlined the next steps for XODE Blockchain. He stated that the project aims to establish the Xode DAO and upgrade its runtime to include OpenGov and transition to a Proof-of-Stake consensus mechanism. Minerva emphasized that these steps would bring the project closer to achieving a triple “A” rating, which is considered the gold standard in blockchain security.
Conclusion
XODE Blockchain’s recent achievements, including a high CertiK Security Score and plans for future enhancements, highlight its commitment to security and innovation in the blockchain space. With the upcoming establishment of the Xode DAO and the transition to a Proof-of-Stake consensus mechanism, XODE Blockchain is well-positioned to continue its upward trajectory and achieve its goal of a triple “A” rating. This progress not only underscores the potential of XODE Blockchain but also marks a significant advancement for the blockchain industry in the Philippines.
