ethbox offers unrivaled protection for your ETH transactions. More and more people are realizing the power of the ethbox smart contract, which comes with two-factor authentication and powerful hash encryption. To make sure ethbox is as secure as possible, it’s recently been the subject of a major third-party audit from a reputable security firm. These audits are ongoing, and ethbox will continue to be tested regularly to make sure it always offers absolute protection.
Why smart contracts aren’t always completely secure
With more and more people using a smart contract for various cryptocurrency transactions—they’ve also become a bigger target for malicious attacks.
According to some estimates, hackers have compromised more than 14% of the total Bitcoin and ETH supply. A large number of these hacks have happened because vulnerabilities in the smart contract code were exploited.
In 2016, the DAO (Decentralized Autonomous Organization) was exploited as a hacker found a vulnerability in the system’s smart contract code. This lead to a loss of 3.6million ETH and meant Ethereum‘s codebase had to be reset through a hard fork—leading to the creation of Ethereum Classic on a separate chain.
This is just one of the major hacks that have taken place because of issues with smart contract code. You can find more examples in this article.
Smart contract audits ensure ethbox’s protection
In order to avoid malicious attacks and serious losses, ethbox undergoes regular audits. One was just completed by reputable security firm Certik. Certik has loads of experience in auditing and helping secure the stability of smart contract code. Certik offers a range of auditing and security solutions for projects in the crypto space. You can see the results of the audit here: https://certik.org/projects/ethbox
Every smart contract tends to have bugs. While some of these can be minor—major issues could lead to hacks and a loss of funds.
Smart contracts are only secure if they are bug-free. An audit by qualified testers is the best way to find bugs and fix them as soon as possible. ethbox is proud to carry out regular audits so they can always stay on top of bugs and make sure their code is as secure as possible at all times.
As you can see from the results, Certik found only one minor issue with the ethbox smart contract code. These were not major vulnerabilities, but they still needed to be fixed. ethbox was able to act on this information immediately to fix every single issue, including those in the “Info Risk” category. Every vulnerability was resolved, ensuring the validity of the code for future smart contract transactions. Not every smart contract is audited in this way, and some other platforms leave vulnerabilities unchecked for a lengthy period of time (or forever).
With the help of Certik, ethbox secured its future and secured your transactions using the ethbox platform. ethbox will continue to use smart contract audits regularly to make sure any issues are resolved as soon as possible, making it one of the most secure ways to safeguard your ETH transactions in the crypto world.