HANDEWITT, GERMANY / ACCESSWIRE / August 5, 2021 / SolidProof is a leading smart contract audit company specializing in protecting decentralized finance (DeFi) market participants with its transformational security solutions.
The audit business has announced the introduction of automatic auditing processes designed to find vulnerabilities in blockchain projects to increase trust in DeFi projects. The automated tests will allow the SolidProof audit team to scrutinize a project's complex code and find bugs, inefficiencies, and other issues that could compromise the safety of user funds.
Autonomous analysis quickly flags known vulnerabilities in DeFi smart contracts, including timestamp dependencies, denial of service attacks, and more. The SolidProof team, which boasts heavy coding experience, will help assure investors that a particular project is genuine by testing how the code reacts to different transaction scenarios.
What's more, the German-based company has unveiled plans to roll out a native token in a bid to outstrip the competition and emerge as a leader in blockchain security solutions.
SolidProof Addresses the Lack of Trust in the DeFi Sector
Decentralized finance (DeFi) has emerged as one of the significant financial revolutions of our times, with the promise of eradicating third parties in lending and borrowing processes.
The sector has gained massive traction amongst individuals who previously lacked access to the traditional banking system. Case in point, the total value locked in various DeFi protocols has risen to over $70 billion in recent months.
However, devastating hacks on numerous DeFi protocols and rug pulls by some project developers have eroded trust in the industry. As a result, many key opinion leaders continue to view DeFi and crypto as scams, leading to diminished confidence in the budding industry.
SolidProof was launched in 2021 to bolster trust in DeFi projects with unique audits and KYC procedures made in Germany. For one, the firm maintains high-quality Know Your Customer (KYC) standards, where it collects details on the project dev team to guarantee users that they are legit and well-intentioned.
This process gives deep confidence to investors that the project backers won't attempt a rug pull and flee with their funds. The KYC solutions also establish customer identity to eliminate fraudulent individuals involved in terrorist financing, money laundering, and corruption.
Furthermore, SolidProof fuses KYC with high-quality smart contract audits that root out vulnerabilities in DeFi projects to bolster investor trust and optimize project functionality. The audit team examines smart contracts via manual tests and other analyses to uncover bugs, inefficiencies, etc., before giving the project a clean bill of health.
At the end of the extensive code review and full team KYC verification, the developers receive a detailed report and badge that assures investors the project is ready for public use.
Best Approach to Foster Widespread DeFi Adoption
SolidProof is helping foster global adoption by countering the lagging trust in DeFi and with its personalized, comprehensive, and transparent KYC and audit solutions. The firm has offered confidence to hundreds of projects, the latest being Survival NFT, Buffalo Token, and captain Bulldog
The leading audit firm has partnered with Unicrypt to help upcoming projects host their pre-sales successfully and get off to the best possible start.
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MAKE Solutions UG
SOURCE: MAKE Solutions UG (SolidProof)
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