Chainlink Labs and Cyfrin Forge Strategic Alliance for Enhanced Smart Contract Security

• Chainlink has introduced a brand new partnership with Cyfrin, a sensible contracts audit and analysis agency, to supply customers of its BUILD and SCALE packages non-public sensible contract and protocol audits.
• Cyfrin will provide market-leading merchandise, together with aggressive audits platform CodeHawks, developer schooling platform Updraft, and Solodit, an aggregator with over 8,000 safety findings.

Chainlink’s mission to supply its ecosystem the most effective services took an enormous stride this week, with the oracle community asserting a brand new partnership with Cyfrin, a sensible contracts audit and analysis firm.

Chainlink introduced the partnership on Wednesday, describing it as a strategic alliance that can enhance safety for its customers.

.@CyfrinAudits has established a strategic alliance with @chainlinklabs.

This alliance helps #Chainlink BUILD and SCALE members entry high-quality private and non-private audits.https://t.co/ZcDvK245HU

— Chainlink (@chainlink) April 17, 2024

Based final 12 months, Cyfrin is a platform that gives cutting-edge sensible contract safety audits, instruments, completion and schooling. It serves a few of the world’s largest blockchain networks and protocols with over $10 billion collectively in belongings beneath administration.

By partnering with the corporate, Chainlink will serve customers of BULD and SCALE. The previous promotes the expansion of tasks constructing on Chainlink by offering technical experience and instruments in alternate for community payment commitments, whereas the latter focuses primarily on Layer 2s by masking the prices of their oracle integrations. As Crypto Information Flash reported, Rollup Finance and Supply Community joined BUILD final 12 months.

Chainlink and Cyfrin to Improve Sensible Contract Safety

Cyfrin combines a whole lot of main world researchers and engineers to reinforce the safety of its shoppers. It does this by means of merchandise comparable to Cyfrin CodeHawks, its aggressive audits platform that gives safety critiques executed by high auditors.

Cyfrin Updraft presents a studying platform for Web3 builders with over 70 hours of step-by-step project-based programs on sensible contract deployment and safety taught by a few of the world’s high blockchain engineers.

The corporate additionally presents Solodit, a platform with over 8,000 safety findings; shoppers can use this useful resource to find out about the most typical vulnerabilities and assault vectors, permitting them to spice up their safety and keep forward of cybercriminals.

“With regards to constructing on-chain purposes, safety isn’t a nice-to-have—it’s a necessity,” commented Peter Hubert, the top of gross sales at Chainlink Labs.

Certainly, safety is just not a luxurious within the blockchain world. Cybercriminals are all the time on the prowl for platforms, protocols, networks and purposes with the slightest vulnerabilities, attacking them and taking thousands and thousands of {dollars}.

Final 12 months, these criminals stole $1.7 billion, with $1.1 billion being from DeFi protocols, in line with a research by Chainlysis. The 12 months prior, they made away with $3.1 billion from DeFI platforms alone.

Alex Roan, Cyfrin’s CTO and co-founder, commented:

Chainlink’s unrelenting concentrate on constructing safe infrastructure has established the platform because the business normal—the identical security-first mindset is prevalent at Cyfrin. We’re excited to determine a strategic alliance with Chainlink Labs to help Chainlink BUILD and SCALE members, finally serving to to create a safer on-chain ecosystem.

In the meantime, Chainlink’s LINK trades at $13.23, and whereas it consolidated over the previous day, it has shed 24% previously week.