NEW YORK, November 29, 2022 (Newswire.com) - Legacy Suite, the industry leader in digital asset preservation, has received a CertiK Audit Certification for its Smart Contract, which is designed to allow users to securely transfer digital assets to their beneficiaries without sharing sensitive information.
Smart contracts are programs on a blockchain designed to run when predetermined conditions are met. Because smart contracts can result in the allocation and distribution of vast sums of assets, understanding smart contracts and ensuring the code is sound is an essential part of blockchain security.
Partnering with CertiK provides advanced testing that goes beyond traditional bug detection. Audits prevent costly and potentially catastrophic vulnerabilities or flaws from affecting a project after its launch. This extra scrutiny is proven to help uncover bugs, errors, and other issues that could prevent the blockchain from functioning correctly.
A formal verification audit includes a three-step process:
- Identification of errors and risks through a thorough code review.
- Reporting and recommendations to remediate any known vulnerabilities.
- Verification of smart contracts to prove the code.
Once smart contract properties are proven valid, they guarantee the contract will behave as intended. "As part of an audit, we apply automated formal verification (symbolic model checking) to prove that the functions in smart contracts adhere to their expected behavior," said Gordon Bell, Founder & President of Legacy Suite.
Smart contract errors can be costly; in 2022, Major League Baseball player Micah Johnson recently lost $34 million due to a smart contract error. The assets, non-fungible tokens (NFTs), were locked away from the creator and buyer.
"We provide peace of mind to shield and protect your assets," adds Bell. "This ensures your legacy remains the way you want it and digital assets end up in the right hands and away from hackers."
To learn more about Legacy Suite and how to secure digital assets, please visit https://www.legacysuite.com.
CertiK's mission is to secure the Web3 world. Starting with blockchain, CertiK applies cutting-edge innovations from academia into Enterprise, enabling mission-critical applications to be built with security and accuracy. Headquartered in New York City, CertiK was founded by computer science professors Ronghui Gu and Zhong Shao. CertiK is backed by industry leaders, including Insight Partners, Tiger Global, Sequoia, Coatue Management, Advent International, Goldman Sachs, Lightspeed, SoftBank Vision Fund 2, Hillhouse Capital, Binance, Coinbase Ventures, and more. To learn more, please visit https://www.certik.com.
About Legacy Suite
We're thinkers, no. Artists, yes. We are determined to reframe digital utility, to shape and sculpt your legacy. Day in and day out, our artists like to challenge their mantra and are a group of code casters that don't know when to quit. Visit https://www.legacysuite.com.
Source: Legacy Suite