Specifically, CertiK Foundation is on course to unveil the Testnet 3.0 open beta for CertiK Chain structured to permit smart contracts to examine for proof of safety audits of nonidentical smart contracts before involving in a trade.
The CertiK Virtual Machine (CVM) is totally compatible with EVM (Ethereum Virtual Machine), implying that prevailing Solidity smart contracts can run seamlessly on the former.
Since the CertiK Chain is deployed on the Cosmos Network, all Solidity smart contracts can be run on Cosmos Network as well.
The company intends to address scaling and block validation issues in an efficient manner with the launch of beta phase of the CertiK Virtual Machine.
The CertiK Foundation opined that the chain will be applicable in a broad range of applications, including staking and decentralized funding.
CertiK Foundation elaborated that a user can examine for proof on-chain of a safety audit before sending cryptocurrency to a staking contract and locking it for a given period of time. On the basis of outcome, a user may select to transfer small quantities of cryptos in multiple batches.
CertiK Foundation stated: “Ultimately, if blockchain becomes as disruptive as people expect, with smart contracts (such as DAOs) interacting with other smart contracts, then the ability to verify security on-chain would help prevent malicious interactions. Other features of the CertiK Chain includes a sandboxing of smart contracts so that they can deploy in a simulated environment for dynamic testing, which would be useful for both deploying new contracts and implementing upgrades of existing contracts.”
In the upcoming releases, CertiK Foundation intends to include extra safety aspects in an attempt to prohibit illegal interactions with the remaining part of the blockchain. The CertiK Chain will function on CertiKOS “the world’s only fully certified, concurrent OS kernel and hypervisor” — and facilitate the CVM to drive smart contracts built using programming language DeepSEA.
The CertiK Foundation unveiled its native CertiK Chain blockchain in the final week of July 2019, following funding from Binance Labs in 2018. At that time, CertiK stated that smart contracts on its chain can be created using DeepSEA, a functional programming language guaranteeing safety through its code.
Notably, Ethereum Foundation backed the DeepSEA venture with financing in March. Likewise, Qtum, a popular open source blockchain venture, also backed DeepSEA with $400,000 in funding last December.