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Blockchain safety agency CertiK has accomplished the audit of OKX’s BRC-20 token contracts. It is a vital achievement that permits Ordinals to run on the Bitcoin blockchain. OKX, a worldwide crypto alternate, is demonstrating its dedication to Bitcoin and its innovation in BRC-20 transaction indexing on the Bitcoin community.
These audits, together with upcoming ones, will facilitate OKX in implementing operations to seamlessly combine the brand new token know-how onto its platform. The alternate’s roadmap consists of supporting inscription, which can develop funding alternatives for its person base. As well as, the platform plans to boost buying and selling capabilities by enabling transactions for tokens and Bitcoin NFTs.
CertiK’s group instructed Metaverse Put up that in contrast to ERC-20 tokens, the place customers’ token balances are saved on the blockchain, the BRC-20 token customary requires an indexer that helps the extraction of JSON data from inscriptions. The indexer processes it and data the steadiness data within the off-chain database.
“The indexer must strictly comply with the foundations specified within the BRC-20 documentation. This indexer was the first focus of the audit we accomplished with OKX,” the group said.
“CertiK’s partnership with OKX aligns with our mission to boost safety and transparency within the blockchain house. By conducting a safety audit of OKX’s implementation of the BRC-20 token customary, we’ve ensured that the mixing of this new know-how onto OKX’s platform is safe and dependable, defending customers from potential vulnerabilities,” CertiK added.
The partnership additionally helps innovation within the crypto house. The implementation of the BRC-20 token customary on OKX’s platform will allow extra numerous transactions for extra customers, thereby fostering a very decentralized free market. Lastly, the partnership enhances transparency within the house. By present process common safety audits, OKX is demonstrating its dedication to this basic worth of Web3.
Jason Lau, OKX’s Chief Innovation Officer, said that this development caters to the group’s pursuits whereas providing dependable, safe, and user-friendly instruments for dealing with these tokens.
Final month, CertiK partnered with Alibaba Cloud to supply blockchain safety companies to cloud-based web3 initiatives. Builders and enterprises deploying on Alibaba Cloud can use CertiK’s safety suite, together with code critiques, threat assessments, group identification verification, and background checks. The collaboration goals to drive the mass adoption of blockchain know-how by integrating it into cloud computing via Alibaba Cloud’s Blockchain as a Service (BaaS) platform.
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