Swipe, a digital wallet application that enables users to buy, sell, and pay with their cryptocurrencies, has chosen to perform a Smart Contract audit of its native cryptocurrency: Swipe Token. CertiK is the leading formal verification platform for smart contract and blockchain audits which ensures that the native cryptocurrency used, in this case the Swipe Token, built on Ethereum is secure against some of the most critical vulnerabilities. The Swipe Token is the center piece of network fuel and access to receiving the services provided by Swipe which include financial services. Therefore, it is important to ensure our users that the underlying token that powers the system is secure and safely operated on the Ethereum decentralized blockchain.
CertiK conducts its audits with the rigor of Formal Verification, which stands at the apex of source code validation. Rather than merely checking for bugs and vulnerabilities, Formal Verification leverages rigorous mathematical theorems to check whether the source code of a program meets its specification, computing all possible scenarios and proving that it is impossible for certain checked vulnerabilities to exist. CertiK has conducted audit reports for over 150 tokens, including SXP, and the report confirms that it has passed the audit requirements with over a 99% rating.
Malicious hackers have plagued the blockchain space and stifled the growth of many promising projects. By conducting Formal Verification audits on projects like Swipe, CertiK aims to guard against some of the most frequent and critical vulnerabilities that have been the source of these attacks. Together, both organizations envision a safer blockchain ecosystem with higher security standards that would prevent against many of the hacks of the past.
Swipe is a digital wallet application platform that enables users to Swipe and Spend with the branded Visa Card. Swipe also gives users access to buy, sell, and pay with over 20 cryptocurrencies and their bank accounts.
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CertiK is a blockchain and smart contract verification platform founded by top formal verification experts from Yale and Columbia University and former senior software engineers from Google and Facebook. Different from the traditional testing approaches, CertiK attempts to mathematically prove blockchain ecosystem and smart contracts are hacker-resistant and bug-free. CertiK’s key features include a layer-based decomposition approach, pluggable proof engine, machine-checkable proof objects, certified dApp libraries, and smart labelling. Trusted by the security industry, CertiK has reached strategic partnerships with world’s top Exchanges such as Binance, OKEx, and Huobi, as well as Public Chains such as NEO, ICON, and QuarkChain. CertiK is incubated and invested by Binance Labs, along with other world’s leading investors such as DHVC, FBG Capital, Bitmain, and Lightspeed.