For organizations that have their protocols, data, and business logic on a blockchain, security is an absolute requirement. CertiK Chain, a security-first blockchain project initiated by CertiK, features an innovative design to ensure its security objectives.
The core innovation of the CertiK Chain is the delegated proof-of-stake (PoS) consensus mechanism that addresses the various stages of application deployment processes: smart contract compilation; verification of compiled bytecode against source code; and verification on nodes for execution. The use of delegated PoS with its well-proven security allows us to take strong measures against attacks such as fake cross-chain transactions or quantum computer hacking.
The CertiK Chain architecture comprises six independent modules for each of these stages. Each module is responsible for compiling and verifying the source code, checking the results of compilation, generating a signature from the source code, and assembling blocks from the signature. The modules communicate via communication channels implemented in both Ethereum and IPFS.
CertiK Chain supports multiple protocols such as ERC20, ERC223, and Nano with compatibility guarantees. In addition to that, major smart contract languages may be adopted while still supporting the other protocols mentioned above. The focus of CertiK Chain is on supporting mainstream applications in their entirety to ensure market liquidity – not just proprietary protocols used by a single organization or group of organizations.
Who are the Founders of CertiK (CTK)?
Ronghui Gu is the co-founder of CertiK. He obtained his Ph.D. in Computer Science from Yale University in 2016 and received a Distinction Dissertation Award from Yale. Gu focused on the formal verification of system software and built the formal verification engine which is the core of CertiK’s technology.
He has also built up a strong technical team of top security engineers in Silicon Valley, New York, Hong Kong, and Taiwan. The team members are involved in various communities that promote the concept of decentralization.
What is CertiK (CTK) used for?
Security solutions for cryptocurrencies, blockchains, and other emerging technologies. CertiK (CTK) is designed not only to provide security for blockchain protocols but also to provide security for any other smart contract-based applications. The team is aiming to give developers and users the tools necessary to enhance their digital assets’ security by leveraging CertiK’s technology.
CTK goes one step further with its offering by taking the “security first” approach of the blockchain community and applying this method to different asset classes, such as cryptocurrencies like Bitcoin and Ethereum. The CertiK project contends that unless a product or project is secure first, it will not be successful – even if other products may hold similar value propositions.
CTK’s blockchain approach is to address the entire process of application deployment, rather than focus on only its outcome – the application deployed.
What is the unique point of CertiK (CTK)?
CertiK (CTK) is a formal verification framework for smart contracts that focuses on finding vulnerabilities in the code. The team aims to be the first company to bring the concept of “formal verification” to the blockchain space – a concept that was initially coined by Professor Stephen Cohen from Princeton University, who stated (with his team): “It is well known that there is no general and effective way to prove program correctness and that too many errors are discovered only when they have already caused substantial damage in practice.”
CertiK in its entirety focuses on making smart contracts safer and more secure. The sophisticated systems that support smart contracts are, in many cases, more important than the applications themselves. This is because it is more difficult for developers to develop secure code for a product that does not have a system in place that can support and verify the code, as well as take into account any risks that may occur.
How many CertiK (CTK) coins are in circulation?
CertiK has a circulating supply of 73 million CTK tokens and a total supply of 108 million tokens.
How is the CertiK (CTK) network secured?
The network is secured with an innovative delegated proof-of-stake consensus mechanism (similar to a basic version of the proof-of-stake consensus used in the EOS project). The system is developed to check the signature generated by each node against the source code of that node, which confirms that the code is valid and follows all rules enforced in the smart contracts deployed by CertiK. This means that users may not change their nodes to cheat or gain an unfair advantage over other nodes.
How do I buy CertiK (CTK)?
CTK can be purchased on supported exchanges such as BingX, Bitfinex, and Binance. It cannot currently be purchased using fiat currency, but it may be traded for other assets like BTC, ETH, or stablecoins such as USDT.
Which Cryptocurrency Wallet Supports CertiK (CTK)?
The PTPWallet platform supports many cryptocurrencies simultaneously, such as CertiK (CTK). Because of its vast use case, it has grown to become one of the most used platforms, as it serves as an exchange and an engine to discover other cryptocurrencies. Users can easily use PTPWallet as their CTK wallet because it offers a simple and interactive interface, making it easy for people to navigate its system.