Binance's incubation project Binance Labs announces investments in CertiK programme.
According to the available data, CertiK is a smart-contract audit service that helps blockchain companies protect all decisions via their official verification. Specifically, the project cooperates with some projects already now – it helps the companies check the code to confirm that there are no errors which could entail financial losses or other consequences. Technically, mathematical facts confirm the protection again the hacking.
Binance Labs refused to comment on the contract price, but it was said that the deal could be for several millions of US dollars.
The division CEO, Ella Zhang, noted:
"CertiK mathematically validates the security of smart contracts, which is a critical pain point we are facing in the blockchain ecosystem, bypassing the limitations of manual detection."
CertiK was created in 2017 with co-founders being a professor from the Yale University Zhong Shao. Notably, Zhong Shao is considered as a founder of certificate operational system – CertiKOS.
As the report reads, it seems that official verification plays an important role in the blockchain, taking into account the interest of Binance.