Binance Labs invests in CertiK project for smart-contract auditing

Posted 08 October, 2018

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.

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08 October, 2018 17:12

← Binance expands charity initiatives via listing update

Binance has started this week with the revision of listing rules. The platform has made all listing fee transparent and directed at charity. "Project teams will still propose the number they would like to provide for a “listing fee,” or now more appropriately called a “donation.” Binance will not dictate a number, nor is there a minimum required a listing fee," as the company press release reads.

Binance expands charity initiatives via listing update

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08 October, 2018 15:13

Zaif fails to show compensation plan after September hack →

Japan's trading platform Zaif operated by Tech Bureau is yet to show the compensation plan after it lost $60 million due to the hack in September. This, in fact, breaks the previously announced plan. Tech Bureau, the operator of Zaif, has taken measures to protect the users. According to the reports, the company has entered into the basic agreement with Japan's Fisco Digital Asset Group. Under the agreement, Zaif will receive $44.59 million for refunding in return for a stake in the exchange. The final contract is yet to be agreed.

Zaif fails to show compensation plan after September hack
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