Developer of security infrastructure for blockchains, CertiK Foundation will introduce the open beta of its CertiK Chain next week.
According to a press release on Nov. 22, CertiK Foundation is to launch the Testnet 3.0 open beta for CertiK Chain. It is designed to enable smart contracts to check for evidence of security audits of other smart contracts before engaging in a transaction.
The CertiK Foundation, a research organization pioneering Formal Verification and end-to-end blockchain security, is proud to announce the CertiK Chain's scheduled Testnet 3.0 open beta launch early next week! More on the full story here: https://t.co/BBsKnU5qhU pic.twitter.com/B0CkOnGb03 — CertiK (@certikorg) November 22, 2019
Features And Potential Applications
The CertiK Virtual Machine (CVM) includes a full compatibility with Ethereum’s EVM that allows existing Solidity smart contracts to run seamlessly.
Since the CertiK Chain is built on the Cosmos Network, Solidity smart contracts too can run on the Cosmos Network.
With the release of the public open beta, the company aims to handle scaling and block validation efficiently. The chain will be suitable for a wide range of potential applications, including decentralized finance and staking.
The public open beta launch comes with an upgrade that migrated the CertiK Chain to the DPoS, Delegated Proof of Stake, consensus algorithm. The DPoS algorithm allows the network to handle and scale block validations efficiently and effectively. — CertiK (@certikorg) November 22, 2019
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.”
Source: Cointelegraph | Image: Bitcoin Exchange Guide