Idea & Token
While the blockchain industry keeps growing, the risk of hacker and cyber-criminal attacks on the infrastructures of blockchain-based businesses grows as well. To ensure the written code works properly and without bugs the companies spend up to 40% of their budget. CertiK is aiming to improve the problem and decrease the testing costs by creating a formal verification framework that allows businesses to prove mathematically that smart contracts and blockchain ecosystems do not contain bugs and are protected from hacker attacks. CertiK has developed a layer-based approach to decompose the verification task into smaller ones. These smaller proof obligations can be proved and validated by the participants in a decentralized style. In the end, CertiK ledgers work as certificates to verify correctness of smart contracts and blockchain ecosystem to prove they are absolutely trustworthy. Though most of such decomposed tasks can be solved automatically (a serious advantage in comparison with the competitors), CertiK provides personalized certification services for the projects with high reliability requirements, for example, crypto wallets. A Beta version of the product is already launched, you can check it on the website.
Their ERC-20 token called CTK will be used as the main payment method on the platform and as an economic incentive for the platform participants in contribute and maintain the ecosystem. CTK is non-refundable, cannot be exchanged for cash, and is not intended to be a representation of money. The token will be sold via three independent investment rounds.
CertiK provides detailed information only about the team leaders. Four top specialists graduated from world-class universities of Yale, Columbia, Princeton, and Pennsylvania, three of them have PhDs in Computer Science. Other team members are people from IT, finance, legal, and PR. President of the project Zhong Shao is currently a professor and head of the department of computer science at Yale, an expert in cybersecurity, programming languages, operating systems, and certified software, played a key role in developing the world’s first hacker-protected parallel operating system CertiKOS. The team has dozens of partners, see the list at the website.
CertiK is a project that can automatically check if your blockchain-based product is free of bugs and your smart contracts and blockchain ecosystem is hacker-resistant. And you can try it right now (and some ICO projects already did), because the Beta version is already released. The team is great, the number of partnerships is 30+, and hype is also there. Minuses – no information about other team members, only about the leaders, high hard cap, a slightly complicated and unclear tokenomics.
A very strong project a step ahead of other competitors, with an already working product and other majors signs of success.