The team over at ChainSecurity recently incorporated to form a company that will be launching a series of products for blockchain developers. Their most recent product which is currently in beta will allow blockchain developers to scan for bugs and potential issues with their smart contracts.
What problem are they trying to solve?
“The main technical challenge in building an effective security scanner for smart contracts is finding a way to explore all behaviors of the contact, which can even exceed the number of atoms in the universe. Existing automated security checkers for smart contracts essentially avoid this problem by only inspecting a subset of all behaviors of the contract,” said Tsankov.
“Our new Ethereum scanner considers all behaviors of the contract to solve the challenge, rather than avoid it. ”
Is this another ICO gimmick?
Nope not at all. Matter of fact the team mentioned that they won’t run an ICO and that everyone within the team is aware of that.
The project itself is bootstrapped and self funded. They recently released a beta version which developers can start testing.
What about the future vision for ChainSecurity?
The team’s goal is to automate smart contract security audits. ChainSecurity aims to build a series of products that will automate any type of security detection awareness.
This is important and a big move for blockchain innovators because security is a huge issue within the blockchain space and even the most experienced developers have trouble getting around it.
There’s also been a lot of hacks and recent data leaks, which raises a lot of concerns.
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