Startup CertiK received millions in investments from Binance Labs

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CertiK, platform, developed a system of verification that allows to mathematically prove how smart contracts and block ecosystem can be vulnerable to hacker attacks, has received investment support in several million from Binance Labs.

Founded last year, the company sent its work to provide a safe platform for smart contracts and blockchain projects through a special verification process, which consists in the application of the system of mathematical proofs to determine whether the hackers hack the smart contract. The team describes this as a multi-layered approach to decompose intractable the evidence base the task into smaller components. In making this analysis, the firm claims that they can objectively evaluate the security of any blockchain-based platform.

The total amount of the investment were not announced, but a company representative noted that an investment of several million dollars.

The importance of high security in the blockchain space

Ella Zhang, CEO of Binance Labs, said CertiK addresses one of the important needs in the blockchain space, and that the security of smart contracts now is a critical moment in the blockchain ecosystem and it is important that CertiK created a system of such detection. Thanks to the investment the project aims to convey the importance of such checks in the field of blockchain technology.

Created by a team technology includes CertiKOS, “certified operating system” developed by Professor Yale University Zhong Shao, which is already used in corporate and military programs.

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Tags: Binance Labs CertiK

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