Blockchain and Cybersecurity Firm CertiK Completes Audit and Forges Partnership with Finschia Foundation September 5, 2023 September 5, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 5, 2023 by Kelly Cromley

Blockchain and Cybersecurity Firm CertiK Completes Audit and Forges Partnership with Finschia Foundation

In a significant development for the blockchain security landscape, CertiK, a renowned leader in blockchain cybersecurity, has successfully concluded an exhaustive audit of the Finschia Foundation’s third-generation public blockchain and Ostracon consensus mechanism. This strategic collaboration extends beyond the audit, as CertiK has also committed to becoming a governance member and validator node operator within the network. The partnership is grounded in shared principles of security, transparency, and performance.

CertiK, a trailblazer in the realm of blockchain security, employs a blend of expert manual scrutiny and cutting-edge AI technology to safeguard and monitor blockchain protocols and smart contracts. Founded in 2018 by professors from Yale University and Columbia University, CertiK’s mission is centered on fortifying the web3 ecosystem. The company translates pioneering academic innovations into practical solutions for enterprises, ensuring the scalability and correctness of mission-critical applications.

Conversely, the Finschia Foundation, an independent non-profit organization based in Abu Dhabi, UAE, emerged in March 2023 with a dedicated objective of advancing public blockchain and Web3 technologies.

The audit process undertaken by CertiK was a comprehensive examination encompassing several key aspects. It involved rigorous testing of smart contracts to identify potential vulnerabilities and attack vectors. Additionally, CertiK verified that the smart contract logic aligned with client specifications and conducted comparative assessments against leading smart contracts within the industry. The audit culminated in an exhaustive Web3 security analysis carried out by expert auditors, encompassing evaluations of technology consistency, performance, and scalability.

CertiK’s multifaceted involvement as a governance member serves to reinforce the Finschia Foundation’s commitment to democratizing blockchain governance and fostering transparent decision-making processes. In its capacity as a node validator, CertiK assumes a pivotal role in upholding the network’s integrity and performance, aligning with the company’s unwavering dedication to delivering cutting-edge security solutions to the blockchain domain.

Youngsu Ko, Chairman of the Finschia Foundation Council, expressed enthusiasm regarding CertiK’s partnership, emphasizing the shared commitment to network security. Ko remarked, “CertiK’s dedication to blockchain security aligns with Finschia’s strong commitment to ensuring the utmost security within our network. Their active participation as a governance member and node validator will play an important role in enhancing our network’s integrity. We value their expertise in Web3 security auditing and look forward to future collaborations.”

Jason Jiang, Chief Business Officer at CertiK, echoed the sentiment, highlighting the company’s dedication to delivering world-class security solutions and actively participating in blockchain network governance and validation. Jiang stated, “CertiK’s collaboration with the Finschia Foundation demonstrates our commitment to delivering world-class security solutions and actively participating in the governance and validation of blockchain networks. We’re thrilled to continue our work together and build toward the Web3 vision.”

As the Web3 landscape continues to experience rapid expansion, the significance of security cannot be overstated. The collaboration between CertiK and the Finschia Foundation serves as a testament to their shared mission to instill trust and security within the blockchain industry. Such strategic alliances are pivotal in propelling the blockchain ecosystem forward, ensuring that it remains robust, secure, and poised for further innovation.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.