The growing number of security breaches and various fraudulent activities has sent a wake-up call across the blockchain industry, and it has triggered concerns of all the investors and developers alike. DeFi or Decentralized Finance being in a nascent stage, security is still one of the biggest factors to take into account. DVP, an international community of White Hats, recently launched an automated smart contract auditor which would help white hats to detect security loopholes and mitigate the potential risks a in advance. The developers maintained that the tool is especially designed for White Hats and also added that it is designed to protect the interests of vendors and investors alike.
According to the developers, the tool will effectively help the vendors locate defects and vulnerabilities in smart contract codes within the shortest possible time, thereby saving time and energy of the White Hats to a great extent. This will in turn help improve the efficiency of DVP platform auditors.
Earlier in June 2021, DVP reached a strategic partnership with Soteria, which is a robust insurance platform developed on the Binance Smart Chain(BSC), to collaboratively ensure the security of sensitive user information and assets and to bolster the warning mechanism for defects and vulnerabilities.
At a recent press conference, DVP developers stated that their aim is to develop a multifunctional platform from a single-function platform by utilizing the rich and combined experience of the White Hats within the community and launching the Smart Contract Audit tool is just a step in that direction. The community has more than 15,000 White Hat professionals and caters to 42 vendors, and another 2029 vendors with related services.
The DVP Platform can be used for developing multi-chain security information, including but not limited to blockchain browsers, graphical display, asset circulation, address tracking, and block broadcasting to create an integrated information platform for the entire blockchain industry.
DVP has also plans to develop multi-platform scalable tools to enhance security infrastructure. The developers stated that they will conduct analysis on each layer of the blockchain business, contract and network to finalize a one-stop event library according to various security situation, which supports the security rating of various projects and technologies. The inherent characteristics of historical security breach events will also be analyzed in order to set up a warning mechanism for the industry security situation and to form a third-party security evaluation agency.
DVP Smart Contract Auditor is a source code audit tool. The audit tool, which supports multiple languages, enables white hats’ judgement on the validity of vulnerabilities with Semantic Analysis. The tool is almost independent of the environment.
DVP developers claimed that although the tool has been specifically designed and developed for professionals, it is quite easy to use. White Hats only need to paste the target contract code to fetch the analysis report, which would give them a clear picture of the possible defects in the contract. These defects might include integer overflow, vulnerabilities in specific compiler versions, and excessive permissions. Consequently, the efficiency of white hat audits on smart contracts gets enhanced by a few notches, which helps relevant DeFi vendors to gain time and opportunities to safeguard the security of the assets of their users well in advance.
Since 2019. DVP has been increasing its focus on the blockchain industry, and the community is committed to the development of vulnerability and security audit platforms, as it wants to develop and strengthen cooperation between White Hats and vendors. In the wake of the security breach events, the community has embraced the mission of fastening the “seat belt” so as to aid in the healthy and comprehensive development of the blockchain industry and all other related industries. The community is committed to roll out more security platforms in the near future.
The international community of White Hat information security professionals uses the blockchain technology and token-incentive schemes and endeavors to develop an anonymous security crowd-testing community, while following the core concepts of vulnerability such as mining and creating a decentralized information security platform, so as to safeguard the digital information industry. The community is also active on various social media channels, including but not limited to Twitter, Telegram, Kakao, and Medium.
While traditional security service products and services can be used for automatic scrutiny of security loopholes, they have their limitations in terms of applicability. The Automated Smart Contract Auditor, according to the DVP developers, was designed based on the attacker’s logic. This helps them in enhancing the loophole warning mechanism and in responding to emergencies faster than ever before. The Automated Smart Contract Auditor, along with the bevy of solutions developed by the community, will help in improving the overall security of the blockchain industry.
To know more, visit https://dvpnet.io/
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Daily Pune journalist was involved in the writing and production of this article.