We are thrilled to announce MAP Protocol’s collaboration with CertiK, combining CertiK’s best-in-class network security monitoring technology with MAP Protocol’s industry-leading omnichain infrastructure to improve Web3 security.
What to expect from this collaboration?
Founded in 2018 by professors of Columbia and Yale, CertiK is the pioneer in blockchain security, utilizing best-in-class Formal Verification and AI technology to secure and monitor blockchains, smart contracts, and Web3 apps. With CertiK’s high-standard and in-depth security auditing, MAP Protocol will further ensure its end-to-end security and consistently maintain its security due diligence.
As the ultimate omnichain layer for Web3 with security finality built upon light-client and ZK-SNARK, MAP Protocol seamlessly enables cross-chain communication with both EVM and Non -EVM chains. By connecting to the Web3 omnichain layer, CertiK can leverage this layer of security for a wider range of networks, thus better defending the integrity of the Web3 space.
Of this successful collaboration, MAP Protocol CCO Michelle Law said, “ Collaborating with CertiK to ensure security in the Web3 space certainly allows us to provide the very best and perhaps the most secure cross-chain solution on the market. As our security foundation grows more solid with CertiK, we will be able to place dApps and projects on the best path for maximum security.”
“We are excited to collaborate with MAP protocol in this joint venture which underscores our mission of securing the web3 work,” said Jason Jiang, CBO of CertiK. “Together — with CertiK’s end-to-end security services and MAP Protocols secure omnichain layer — we are confident that this joint solution will further solidify our strategy around security.”
Buckle up on security
Bridges are created to connect independent blockchains and to enable faster assets and information transfer, yet there seems to be an inevitable trade-off between security and utility. In this year so far, bridge hacks have incurred near $2 billion in losses, including Nomad ($190 million) earlier in August, Harmony ($100 million) in June, Ronin ($625 million) during March, and Wormhole ($326 million) at the beginning of February.
From Yahoo Finance
As the amount of value locked in bridges continues to rise, hacks will grow bigger and more sophisticated unless we figure out a better mechanism to stave off security risks. With the shared goal of securing Web3, MAP Protocol will work closely with CertiK to establish a security consensus, safeguard Web3 public chains, and build a more solid foundation for web3 projects.
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 correctness. 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, Hillhouse Capital, Binance, Coinbase Ventures, and more.