DFINITY Foundation Joins Blockchain Security Alliance to Bolster Ecosystem Protection August 9, 2023 August 9, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 9, 2023 by Kelly Cromley

DFINITY Foundation Joins Blockchain Security Alliance to Bolster Ecosystem Protection

The DFINITY Foundation, a significant contributor to the innovative Internet Computer blockchain, has recently made a strategic move by becoming a participant in the Blockchain Security Alliance. This collaborative initiative, spearheaded by Beosin and SUSS NiFT, brings together a diverse array of entities from varying industries, including blockchain security companies, academic institutions, industry associations, and fintech service providers. DFINITY’s entry into this alliance sees it join forces with established names such as Beosin, SUSS NiFT, NUS AIDF, BAS, FOMO Pay, Onchain Custodian, Semisand, Coinhako, ParityBit, and Huawei Cloud, forming the alliance’s inaugural group of board members.

The Internet Computer blockchain, renowned for its groundbreaking features, introduces a revolutionary concept of autonomous serverless cloud functionality on the public internet. This technological leap empowers developers by enabling them to build a wide range of systems and services directly on a decentralized network through the use of “canister software,” which represents an evolution of the concept of smart contracts.

DFINITY’s decision to join the Blockchain Security Alliance is a testament to the organization’s commitment to collaboration and collective efforts to enhance security across the global blockchain ecosystem. Herbert Yang, General Manager of Asia at DFINITY, highlighted the paramount importance of security within their decentralized internet computing platform. He affirmed the alliance’s role as a united front, united in the mission to safeguard the integrity and security of the entire blockchain industry. Furthermore, Yang extended an invitation to other entities within the blockchain realm to unite and collaboratively strengthen the security fabric of the ecosystem.

Beosin, an esteemed founding member of the Blockchain Security Alliance, holds a central position in fortifying the security posture of the ecosystem. Led by respected professors from prestigious universities and supported by a team of over 40 Ph.D. experts, Beosin stands out as a prominent global player in the field of blockchain security. With a far-reaching global presence encompassing offices in key locations such as Singapore, South Korea, and Japan, Beosin’s reach underscores its commitment to enhancing the security of the blockchain ecosystem on a global scale.

Aligned with its mission to “Secure the Blockchain Ecosystem,” Beosin provides a comprehensive, all-encompassing blockchain security solution. This solution spans areas including Smart Contract Audits, Risk Monitoring & Alerts, KYT/AML, and Crypto Tracing. Beosin’s impressive track record includes conducting audits for over 3000 smart contracts, which encompass a wide spectrum of notable Web3 projects such as PancakeSwap, Uniswap, DAI, and OKSwap. The ongoing surveillance of these audited projects via Beosin’s EagleEye system ensures continuous vigilance and protection.

Beosin’s commitment to the blockchain community is further exemplified through its KYT/AML solutions, serving over 100 institutions. The recent completion of audits for two ICP projects, MID and Catalyze, attests to Beosin’s dedication to the security and integrity of the Internet Computer blockchain ecosystem.

Tommy Deng, Managing Director at Beosin, expressed the alliance’s delight at welcoming DFINITY as a member. Deng emphasized the shared vision of establishing an ecosystem that thrives on innovation while maintaining robust security measures. Beosin’s meticulous audits of MID and Catalyze underscore the organization’s commitment to fortifying the Internet Computer blockchain ecosystem and safeguarding the broader blockchain industry.

The Blockchain Security Alliance, since its inception, has successfully organized several offline events. Notably, its inaugural event “ENABLING A DIVERSE ECOSYSTEM IN WEB3.0” received active participation from alliance members, signifying the collective commitment to the alliance’s objectives. The alliance members have collaboratively produced multiple reports focused on security aspects within the blockchain ecosystem, facilitating widespread dissemination of valuable insights within the industry.

In the capacity of co-organizers of the alliance, Beosin and SUSS NiFT extend a warm welcome to DFINITY’s engagement. They reaffirm their dedication to advancing the alliance’s mission, which centers on enhancing the security capabilities of the blockchain industry. Through activities like security research, technical exchanges, and partnerships, the alliance aspires to offer robust support for the industry’s long-term growth and prosperity. The entry of DFINITY into this alliance underscores the unity of purpose shared by leading entities in safeguarding the integrity and resilience of the blockchain ecosystem.

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.