The security company wants to build a formally secure blockchain for DeFi
CertiK, a software security company active in the blockchain sector, announced the mainnet release of its own custom blockchain, the CertiK Chain.
The new blockchain places a heavy focus on security, turning the previously static process of analyzing smart contracts into a real-time safeguarding system.
Professor Ronghui Gu, the CEO of CertiK, said, “Gone are the days of reliance on off-chain security analysis, static security audit reports, and unnecessary loss of time and money.” The CertiK Chain is “setting a new industry standard in blockchain security protocols,” he added.
The blockchain features a custom programming language called DeepSEA, which is engineered to make formal verification — a mathematical demonstration that the code does what it’s supposed to — into a largely automated process.
The blockchain also carries an interoperability focus through the concept of Security Oracles, which provide real-time analysis of smart contracts on other blockchains. The company says that the feature can be used by smart contracts on other blockchains to assess the security of their peers. If the oracle deems the target smart contract to be unsafe, developers may choose to avoid interacting with it on the fly.
The oracles will work through a system of customers and operators. End users or developers who wish to understand the level of security of a particular contract will submit a request, funded with the blockchain’s CTK tokens. The operators behind the oracles will then conduct the analysis and publish the results on-chain.
Finally, the company is also organizing an insurance mechanism to cover any loss of funds from hacks, called CertiKShield.
The mainnet launch comes after a testnet released in March 2020. Earlier in February, the project released a demo of the DeepSEA language. CertiK is among the most active security auditors in the space, being recently selected as a partner for auditing Binance Smart Chain and projects building on that platform.