The CertiK Foundation is a company that specializes in developing security infrastructure for blockchain networks.
CertiK Chain to launch open beta testnet
The company has now revealed that it is planning to launch the Testnet 3.0 for its peerless network titled CertiK Chain.
The network is created to enhance the performance of smart contracts. The chain allows smart contracts and other dApps to verify security audits of other smart contracts before trading.
CertiK Virtual Machine (CVM) is designed with full support for Ethereum’s EVM. This boosts the functions of smart contracts by making their processes smoother. The CertiK Chain is designed on the Cosmos Network and hence allows users to run Solidity smart contracts on Cosmos Network.
Testnet 3.0 will allow the company to scale and improve block validation. The Chain’s main focus seems to be decentralized finance (DeFi). However, it would also entertain other uses such as staking.
Users and smart contract operators can now verify the evidence of a security audit on the chain before they enter a trade with the party. The user can then decide to send the assets in batches. This makes staking much more secured and reduces the risks of scams and other illicit activities. The company is planning to improve security further in the next releases.
CertiK Foundation claimed that the chain’s security would prevent “malicious interactions.” They added that other important features include sandboxing that would provide a simulated environment for testing. This feature would be incredibly helpful for deploying smart contracts for testing before public launch.
