Crowdfunding platform QuiverX recently announced a partnership with CertiK.
The team-up will result in searching the company’s systems for bugs and weak points that might be used against it.
QuiverX also promised that all projects that launch on its platform will be audited by CertiK, from now on.
QuiverX recently decided to improve its security, as well as the security of all projects that will launch on its network, which is why it partnered with Certik.
Blockchain technology, as well as the projects based on it, are typically deemed to be very secure. Blockchain is, in theory, immune to hacking thanks to decentralization. Centralized projects and companies typically have their own servers that they control, and a single point of entry could result in the entire system being compromised.
With each blockchain being run by an entire community of separate nodes, this is not possible, unless someone were to hack at least 51% of them, which would allow them to influence the information stored on top of the blockchain, change it, manipulate it, and more.
But, with that said, individual projects could still be flawed in different ways, whether that means bugs or weak points that could be misused by bad actors, which is why it is important to constantly keep an eye on the system and each of its components and improve the security in any way possible. This is what a DeFi project QuiverX is currently working on, according to its recent announcement.
Quiverx Partners with Certik to Boost Security
In its recent announcement on Twitter, QuiverX announced that it is excited to reveal a new partnership with CertiK, which is a leading blockchain security firm. It also said that CertiK will audit any and all projects that will launch on the QuiverX platform in the future.
CertiK also wrote a post noting that penetration testing — a term for finding exploits before the hackers do — is essential when it comes to any application. When it comes to crypto wallets, it is that much more important, given how they are used by thousands, if not millions of people to store and manage their digital funds.
The company is extremely pleased to see QuiverX taking steps to secure its ecosystem, which is what the partnership will eventually bring.
Details of the Partnership
In addition to the Twitter announcement, QuiverX also published a Medium post explaining that CertiK has conducted thorough and rigorous testing of the platform, including a penetration test, as well as the source code review. The goal was to check whether the project’s system is resilient enough to handle any external attacks on its wallet.
Moving forward, CertiK will continue to support QuiverX, and it will also audit any project that launches within its ecosystem, as mentioned previously. As a result, CertiK will be able to ensure security and peace of mind for developers and users alike and help the projects focus on being as efficient as possible.
CertiK has plenty of experience in the blockchain sector since it worked within it for several years now. During this time, it serviced over 100 top-shelf blockchains, DeFi protocols, smart contracts, and alike. Some of its past clients include the likes of Binance, Bancor, Blockstack, Tera, Shapeshift, among many others.