Crypto.com, the pioneering payments and cryptocurrency platform seeking to accelerate the world’s transition to cryptocurrency, chose to perform its smart contract audit with CertiK, the leading formal verification platform for smart contract and blockchain audits, to ensure that its token is secure against some of the most critical vulnerabilities. The company recently announced the Crypto.com Chain, a high-performing blockchain solution that enables instant cryptocurrency payments, which is intended to help drive cryptocurrency adoption globally. With a platform that will be used across the world, Crypto.com placed an extra emphasis on security, making the choice to work with CertiK a clear one.
CertiK conducts its audits with the rigor of Formal Verification, which stands at the apex of source code validation. Rather than merely checking for bugs and vulnerabilities, Formal Verification leverages rigorous mathematical theorems to check whether the source code of a program meets its specification, computing all possible scenarios and proving that it is impossible for certain checked vulnerabilities to exist. CertiK has conducted audit reports for over 150 tokens, including CRO, and confirms that it has passed the audit requirements.
Malicious hackers have plagued the blockchain space and stifled the growth of many promising projects. By conducting Formal Verification audits on projects like Crypto.com Chain, CertiK aims to guard against some of the most frequent and critical vulnerabilities that have been the source of these attacks. Together, both organizations envision a safer blockchain ecosystem with higher security standards that would prevent against many of the hacks of the past.
CertiK is a blockchain and smart contract verification platform founded by top Formal Verification experts from Yale and Columbia University. Incubated by Binance Labs, Certik has strategic partnerships with the world’s leading crypto exchanges such as Binance, OKEx, and Huobi, as well as protocols such as NEO, ICON, and QuarkChain.
CertiK’s formal verification method works differently than traditional testing approaches: rather than working manually, CertiK mathematically proves blockchain ecosystem and smart contracts are hacker-resistant and bug-free at scale. CertiK has secured over $4B in asset value, auditing several projects across all major protocols, including BNB, Terra, Crypto.com, and TUSD.
Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include: Crypto.com Wallet & Card App, the best place to buy, sell, and pay with crypto; the MCO Visa card, a metal card with no annual fees; and the Crypto.com Chain, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 120+ strong team.
For more information, please visit: www.crypto.com.