CertiK which is known as a prominent blockchain cyber-security company has launched its new CertiK Chain blockchain. The firm had received an investment from the Binance lab in the previous year. The launch of this blockchain was announced by CertiK through a blog post.
According to the blog, the CertiK Chain aims to enhance the security of blockchains. It will use the company’s formal verification platform to realize this objective. This they think will help realize the full potential of decentralized computing within a secure network.
The company has decided to focus on what they are best at- security, rather than the problems of scalability and decentralization. Moreover, they believe scalability and flexibility will follow as the network grows with coders having the confidence to code without any feeling of risk.
The smart contracts within this blockchain will have cryptographic certificates which will act as proofs of verified security. These will be verifiable automatically by different smart contracts. Moreover, the contracts which will not have these certificates will be penalized in forms like higher transaction fees.
The CertiK virtual machine will be at the base layer. This will encourage implementation of security from the bottom up. As the verified compiler will assure that no code is introducing bugs into the process of transforming the source code to CVM Bytecode.
To allow universal accessibility the blockchain will enable developers to create smart contracts on the blockchain using the DeepSEA programming language. The project had received funding from Ethereum Foundation and Qtum which is an open-source blockchain project. The blog specifies this as a way of allowing a fully certified compiler to prove your security within the code itself. CertiK presently offers other services like security auditing. Recently the company had announced to have partnered with Binance to audit the smart contracts of the leading crypto exchange.