Binance Labs Invests Several Million in Blockchain Cybersecurity Startup CertiK

Voyager
Voyager

Binance Labs, the venture arm of the leading cryptocurrency exchange, has invested several million dollars into CertiK, a startup that provides blockchain and smart contract audits and verification.

According to a press release provided to SludgeFeed, CertiK¬†has partnered with Binance¬†Labs to¬†accelerate the impact of its unique technology into the broader blockchain space. CertiK’s platform leverages a layer-based decomposition approach, pluggable proof engine, machine-checkable proof objects, certified dApp libraries, and smart labeling to ensure that blockchains and smart contracts are hacker-resistant and bug-free.

This move fits well into the expanding blockchain ecosystem that Binance Labs is building through major investments and initiatives, including a recent investment in Contentos (COS), a project building a public blockchain for decentralized content creation. CertiK ultimately brings an academic-driven focus on security that can be applied across this ecosystem.

Emphasizing this point, Ella Zhang, CEO of Binance Labs, states that “CertiK mathematically validates the security of smart contracts – which is a critical pain point we are facing in the blockchain ecosystem — bypassing the limitations of manual detection.”¬†

CertiK has already partnered with a number of partnerships with top blockchain platforms, including NEO (NEO) and Ontology (ONT). With both of these partnerships, CertiK is working towards enhancing the security and reliability of smart contract and blockchain systems.

Interesting: Binance to Make Listing Fees Public and Donate All Proceeds to Charity

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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