Whilst cryptocurrency can be an exciting and rewarding investment, it is vital to have an understanding of web3 security and the measures needed to protect yourself and your fund.
Transparency and Accountability. CertiK KYC provides identity verification for project teams- to help investors make shrewder decisions based on an awareness of web3 security.
Smart Contract Audits. Check out the CertiK Security Leaderboard, which rates and ranks all onboarded projects in terms of their security.
Authentication Methods. In securing your accounts you should set up 2 Factor authentication so that a hacker would need to have both your password and the device to be able to access your account.
Hot and Cold Wallets. People will hold some of their funds on a cold wallet for security, and some on a hot wallet to allow for a smoother flow of funds.
Propelify Innovation Festival 2022 | TechUnited: NJ | Interview with Ronghui Gu, Co-Founder, CertiK
How Unicorn Startup, Certik, received a 2B valuation to protect blockchain from it’s greatest threat. Interview with Professor Ronghui Gu, Co-Founder, CertiK by Jade Scipioni, Senior Reporter, CNBC
What makes a web3 project worth trusting?
Trustlessness is one of web3’s foundational doctrines. It means that decentralized systems have no entity that users must trust for the system to function correctly. While most people do not have the technical expertise to perform their own audit of a system, CertiK can help by verifying if a web3 project is worth trusting.
Certik’s KYC or Know your Customer verification increases trust while reducing the risk of fraud. Projects that earn a KYC badge demonstrate their commitment to their project.
Certik’s Code Auditing involves the line-by-line inspection of a smart contract. Combining this with formal verification, Certik is able to calculate all possible values for all variables in a contract.
A trustworthy project will adopt post-deployment measures to ensure that its platform functions safely.
Certik’s Skynet, is an on-chain monitoring tool that uses AI to scan contract code using our database of vulnerabilities. Web3 projects that have enabled Skynet, will have their Skynet Trust Score displayed on their project’s entry on the Security Leaderboard. This provides users with a simple way to gauge a project’s overall security.
Certik’s Security Suite, makes it easy for projects to demonstrate their commitment to transparency, while making the results freely available to all users.
To learn more about what makes a web3 project worth trusting, visit certik.com/resources.