SolidProof, an audit firm in Germany launched in 2021, plans on unveiling its automated audit tool. Using the audit tool, Solidproof aims to bring trust to the DeFi space. As cryptocurrencies are growing, there is a growing need for protecting investors from malicious attacks.
SolidProof provides auditing as a safety measure to examine errors or potential defects in a platform’s ecosystem. It can perform security checks for the advantage and satisfaction of both the owners and the users.
SolidProof Auditing and KYC Services
SolidProof’s auditing feature analyses different crypto projects’ smart contracts and their blockchain status. Smart contracts operate by removing intermediaries, who are quite costly in transaction fees. Hence, the automated contract empowers transactions made by the project and at the same time instills transparency and security to users.
Since the financial system is essential, smart contracts need to be reviewed for the project’s sustainability. SolidProof hence tackles such by both manually and automatically checking for blockchain projects.
KYC is used in DeFi to protect both investors and project owners. It ensures that DeFi service providers have enough information on their users to minimize money laundering and other issues surrounding finance. For the KYC checks, SolidProof looks to establish users’ identities and assess their activities for the DeFi project. Also, they check that the user’s source of funds into the project is legal and evaluate any risks noted.
Automatic Auditing Tool
SolidProof, since its launch, has been offering several platforms auditing services and gave the successful audits a verification badge. All this while, they were using manually driven audit systems which are accurate because they have the human touch. However, its downside is it can be tiring and time-consuming. Also, there is more room for error.
SolidProof is planning to make the auditing process automatic and bring more efficiency in the services delivery. By using automated auditing, the speed of delivery is high. The network will hence get to work on short deadlines and give highly reliable results. In addition, the system already has manual knowledge, and hence the results will be accurate from 2 sources.
To audit a project will be as easy as contacting SolidProof, auditing, fixing the system for a second audit then a report produced. Easy, simple, and a fast process.
SolidProof Partnerships and the Token Launch
SolidProof is working with various platforms to bring about better services to its users. Unicrypt is in a partnership with the auditing platform for its launchpad services. It is not the first time Unicrypt is participating in launching successful projects in the crypto world. Since it requires an auditing platform for its projects, this is where SolidProof comes in.
SolidProof is also doing audits for Etherlite, Pathfund, and DFinityPad.
SolidProof is continuing to increase its user base, and hence it has a lot lined up for its users. The company is introducing a new token that folks will use for platform services. The details have not yet been released, but SolidProof will give updates soon.
You can keep up with SolidProof on;
Twitter @ https://twitter.com/SolidProof_io
Website @ https://solidproof.io/
Medium @ https://solidproof-io.medium.com/
Facebook @ https://www.facebook.com/solidproof.io
Telegram @ https://t.me/solidproof