Blockchain Security: CertiK Launches Skynet for Community Web3 Due Diligence Tool

CertiK, the provider of blockchain security solutions, is pleased to announce the launch of Skynet for Community, the “first-of-its-kind” security, due diligence, and insights platform for the Web3 ecosystem.

Skynet for Community “simplifies Web3 project research, analysis, and monitoring for users, investors, and community members.”

With thousands of Web3 projects creating millions of points of data every day, it’s easy “to get lost in the noise.”

Skynet for Community’s rich data-driven insights “help users to discover new projects, conduct due diligence on projects of interest, and keep up to date on the latest news and developments in the Web3 space.”

The platform aggregates “a vast amount of data into Web3’s most accessible security-focused due diligence tool.”

With $3.7 billion lost to 605 separate hacks, exploits, and scams in 2022, “there is a pressing need for actionable security insights.”

Building trust with the retail sector “which makes up the bulk of Web3 users is essential for the future of the industry.”

The Skynet for Community platform’s comprehensive metrics “put security front and center.”

The Security Leaderboard ranks projects “according to their Security Score and market performance.”

The Verified Teams (KYC) Leaderboard “lists projects based on the status of their CertiK KYC Badge, which is awarded to teams and founders that undergo a rigorous background investigation.”

Skynet for Community “evaluates the security of Web3 projects through both manual and automated measures.” Now, the platform covers “the majority of all Web3 projects using transparent metrics, regardless of their relationship with CertiK.”

Manual Signal Scores are “determined by CertiK’s research analysts and security experts, who evaluate factors such as the quality of whitepapers, documentation, and other fundamental aspects of the project.”

Automatic Signal Scores are “calculated in real-time by the underlying software and monitoring systems, which evaluate website cybersecurity, security incidents, and other factors.”

The signals are “weighted based on their severity or potential impact, and the aggregate of qualitative and quantitative insights makes up the project’s final Security Score.”

Skynet for Community also “includes a new Exchange Audit feature, which allows users to conduct due diligence on centralized exchanges by displaying their on-chain asset holdings.”

Restoring faith in centralized exchanges “is more critical than ever in light of the events of late 2022, and Exchange Analyzer allows users to view exchange reserves in one convenient dashboard.”

Turning to on-chain metrics, Skynet Alerts reportedly “provides timely notifications on rugpulls and exploits in the cryptocurrency space while the Smart Money Wizard tool gives insights on wallet addresses and makes it easy to visualize and decipher on-chain transactions between wallets.”

Professor Ronghui Gu, co-founder and CEO of CertiK.

“Skynet for Community is a revolutionary product that leverages CertiK’s experience and expertise in blockchain security to provide an independent, transparent, and comprehensive evaluation of Web3 projects. Retail users – the lifeblood of the industry during this critical early stage in its development – are still getting burned by exit scams, hacks, and exploits. We are excited to launch this product and offer the Web3 community a powerful tool that closes the information gap and puts power back in their hands, helping them to make better informed investment decisions.”

The launch of Skynet for Community “marks a new era of transparency and accountability for the Web3 world as it provides a comprehensive evaluation of projects’ security in real-time.”

With its uniquely comprehensive “approach of combining manual and automated measures, CertiK’s Security Score provides an independent lens through which all Web3 projects can be evaluated.”

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