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ICON Foundation Announce New Strategic Partnership

ICON ICX is flying off the back of the recent announcement that sees a new partnership between the ICON Foundation and CertiK. At the time of writing, ICX is valued at $0.664, up 9.12%.

The premise of the new ICON x CertiK partnership is to ensure a more secure network and a more secure ICON Ecosystem.

What is CertiK?

“CertiK is a formal verification framework to mathematically prove that smart contracts and blockchain ecosystems are bug-free and hacker-resistant. To scale the verification, CertiK developed a layer-based approach to decompose such an otherwise prohibitive proof task into smaller ones. These smaller proof obligations can be encoded in the CertiK transactions and will then be proved and validated by the participants in a decentralized style. CertiK ledgers work as certificates to exhibit the end-to-end correctness and security of verified smart contracts and verified blockchain ecosystems, making them entirely trustworthy.”

ICON believe that one of the most important factors for blockchain adoption is to ensure security. It seems that most technological revolutions have always had security issues, issues that have made the general population more sensitive and more aware about security, meaning that before blockchain technology is fully adoptable, the general populous will want to be able to see a guaranteed level of security within all blockchain projects. This is the motivation behind ICONs new partnership with CertiK, according to the official announcement made by the ICON Foundation:

“We are excited to announce a strategic partnership between the ICON Foundation and CertiK, a smart contract auditing firm with a patented technique to automate formal verification of smart contracts. This partnership will lead to a more secure ICON Ecosystem, as DApp projects launching on ICON will soon have the ability to submit their SCOREs to CertiK for an almost entirely automated smart contract audit.”

This is sure to mark a turning point for both the adoption of ICX and the ICON blockchain too. Based on ICX’s almost 10% rise today, we can see that this partnership has impressed investors and is having a good impact on the health of the project over all. Furthermore, this could have implications for other similar blockchain projects that need to be seen to keep up with the trend and also improve their own security parameters too.

References

CertiK

ICON Foundation Announcement


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Adrian has been leading teams in the finance sector for over a decade. He is highly experienced, and is responsible for ensuring that the latest news is delivered to you as it is breaking. He has a keen interest in virtual currencies, and has even made investments himself, so is incredibly passionate when it comes to writing about this topic. He knows the news pieces that are interesting to the reader, so will ensure that he keeps you up to date on all of the relevant news in the cryptocurrency world.