Blockchain
SolidProof Crosses 400 Smart Contract Audits and KYC to Foster Security in the DeFi World
Handewitt, Germany–(Newsfile Corp. – February 12, 2022) – The security of a crypto project remains a primary consideration for developers in DeFi. SolidProof, a German-based blockchain auditing company, has specialized in protecting DeFi market participants with its transformation security solution.
SolidProof currently prides itself in serving over 350 projects. Thus, they adapted their business to the altering market conditions and fine-tuned it accordingly.
SolidProof Addresses the Lack of Trust in DeFi
DeFi has attracted a fair share of scams, owing to the number of rug pull cases that have flocked the industry time and again. Developers may create a liquidity pool with his newly minted scam token and another legitimate crypto, such as Ether. When people come in, they begin purchasing it in exchange for ETH, held for a set period. Malicious founders will then remove the ETH from the liquidity pool, leaving only the worthless token.
It can also occur during the vesting period. During this period, smart contracts typically lock a certain amount of funds until contract conditions are met. Vesting is the process of releasing them after the period has ended. Vesting demonstrates that the team is committed to the project and will continue its development. With SolidProof, knowing the developers before investing promotes credibility and trust.
SolidProof also offers reliable Know Your Customer (KYC) protocols that could build up a project’s credibility. It gathers information about the project development team. Hence, it reassures users that they are legitimate and well-intentioned. This process provides investors with a high level of confidence. Investors have trust that the project’s founders will not attempt a rug pull and flee with their funds, as happened recently with Squid Token. Thus, investors can freely participate in the presale.
In addition, the firm does KYC on clients to authenticate the users’ identities for holder analysis. It also analyses if they offer a danger of money laundering. Furthermore, SolidProof assists processes in determining if potential investors are obtaining cash from reputable sources. As a result, both the investor and the creator get a fair project launch.
SolidProof also tackles privacy issues by storing client data on servers with excellent encryption. It guarantees optimum security for potentially sensitive data. Consequently, new projects may rely on its risk-free approach to data storage optimization.
SolidProof Auditing Services
Solidproof detects issues and creates auditable and detailed reports. They detect problems or vulnerabilities in a protocol’s code. In addition, they categorize and list these mistakes based on their severity level: critical, medium, and low.
It then gives many code improvements to crypto projects. SolidProof informs developers on certain essential modifications. Hence, they assist them in increasing the efficiency of the code.
SolidProof has recently released a new feature called the SolidProof Automated Auto Tool. SAAT uses pre-installed parameters to detect faults, mistakes, and inefficiencies in the smart contracts of any DeFi project. The skilled SolidProof team can offer quick, accurate, and transparent audit reports free of human mistakes.
The automation of audits also allows SolidProof to evaluate very complicated smart contracts. Usually, it would be nearly impossible to examine manually increasing Defi projects’ security. SolidProof is a quality auditing solution because of these auditing characteristics. On the other hand, free cheap audits are not as extensive. They do not include findings and suggestions that might assist devs in improving the code.
The Future of DeFi Looks Bright
SolidProof is swiftly establishing itself as a prominent player in auditing solutions. It is also expanding services internationally. It is also working to permanently shift the blockchain environment to increase audit and KYC efficiency.
Aside from smart contact audit automation, the firm offers the best possible client security and privacy. Although auditing blockchains can be difficult, SolidProof is off to a terrific start and eventually dominates the technology. You can request for an audit and KYC services from SolidProof’s website.
About SolidProof
SolidProof is a Defi contract auditor. On top of auditing, Solidroof provides KYC scanning services. The idea of KYC scanning involves checking for any money laundering risk surrounding the project. Hence, any project that asks for a KYC scan will undergo thorough scrutiny of the team members.
Contact: MAKE Solutions UG Mails Nielsen [email protected]
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/113600
According to a report from CoinTelegraph, nearly forty percent of institutional investors in Canada have exposure to cryptocurrency, as revealed by KPMG. This finding underscores the growing acceptance and adoption of digital assets among institutional investors in the country.
The report indicates that a significant portion of institutional investors in Canada are actively investing in or exploring opportunities in the cryptocurrency market. This trend reflects a shift in sentiment towards digital assets, with more investors recognizing the potential for long-term growth and diversification offered by cryptocurrencies.
KPMG’s findings highlight the increasing mainstream acceptance of cryptocurrencies among traditional investors, as well as the growing interest in blockchain technology and its potential applications across various industries. As institutional investors continue to enter the cryptocurrency market, they are expected to bring additional capital and liquidity, further fueling the growth and maturation of the digital asset ecosystem.
Overall, KPMG’s report signals a significant milestone in the adoption of cryptocurrencies in Canada, indicating that institutional investors are increasingly recognizing the value proposition of digital assets and integrating them into their investment portfolios. This trend is likely to accelerate the broader adoption and mainstream acceptance of cryptocurrencies in the country and beyond.
Source: cointelegraph.com
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Blockchain
BounceBit (BB) Megadrop Now Open: Participate by Subscribing to BNB Locked Products or Completing Web3 Quests
The BounceBit (BB) Megadrop is now open for participation, as announced by Blockchain.News. This event presents an exciting opportunity for users to earn BB tokens by engaging in various activities, including subscribing to BNB locked products and completing Web3 quests.
Participants can join the BB Megadrop by subscribing to BNB locked products or completing Web3 quests, both of which offer different avenues for earning BB tokens. By participating in these activities, users have the chance to accumulate BB tokens and potentially benefit from the rewards associated with the Megadrop.
Subscribing to BNB locked products allows users to earn BB tokens by locking their BNB assets for a specified period. This not only provides users with an opportunity to earn rewards but also contributes to the liquidity and stability of the BounceBit ecosystem.
Additionally, completing Web3 quests offers users an alternative way to earn BB tokens by engaging in various tasks and challenges related to Web3 technology. These quests provide users with a fun and interactive way to learn about blockchain and cryptocurrency while earning rewards in the form of BB tokens.
Overall, the BB Megadrop presents an exciting opportunity for users to participate in the BounceBit ecosystem and earn rewards by engaging in activities that contribute to the growth and development of the platform. As the Megadrop progresses, participants can look forward to additional opportunities to earn BB tokens and potentially benefit from the rewards associated with this event.
Source: blockchain.news
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Cronos, a prominent blockchain platform, has announced a collaboration with KYVE aimed at revolutionizing blockchain data, as reported by CryptoNewsZ. This partnership represents a significant step forward in enhancing the efficiency and scalability of blockchain data storage and retrieval.
The collaboration between Cronos and KYVE seeks to leverage KYVE’s decentralized data storage and retrieval solution to enhance the capabilities of the Cronos blockchain platform. By integrating KYVE’s technology, Cronos aims to address the challenges associated with storing and accessing large volumes of data on the blockchain, such as scalability and cost-effectiveness.
KYVE’s decentralized data storage solution utilizes a network of distributed nodes to store and retrieve data, ensuring high availability and reliability. This approach not only improves the efficiency of data storage and retrieval but also enhances the security and resilience of the blockchain network.
The partnership between Cronos and KYVE is expected to unlock new possibilities for decentralized applications (dApps) and smart contracts built on the Cronos platform. By providing a more efficient and scalable solution for blockchain data management, Cronos aims to attract developers and enterprises seeking to leverage blockchain technology for a wide range of applications.
Overall, the collaboration between Cronos and KYVE represents a significant development in the blockchain industry, highlighting the importance of innovation and collaboration in driving the evolution of decentralized technologies. As the partnership progresses, it is poised to deliver transformative benefits for blockchain data management and accelerate the adoption of decentralized applications and services.
Source: cryptonewsz.com
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