- Chainlink has announced a new partnership with Cyfrin, a smart contract audit and research firm, to offer users of its BUILD and SCALE programs private smart contract and protocol audits.
- Cyfrin will offer market-leading products including competitive audit platform CodeHawks, developer education platform Updraft and Solodit, an aggregator with more than 8,000 security findings.
Chainlink’s mission to provide its ecosystem with the best products and services took a huge step forward this week, as the oracle network announced a new partnership with Cyfrin, a smart contract audit and research company.
Chainlink announced the partnership on Wednesday, describing it as a strategic alliance that will increase security for its users.
.@CyfrinAudits has entered into a strategic alliance with @chainlinklabs.
This alliance helps #Chainlink BUILD and SCALE members gain access to high-quality public and private audits.https://t.co/ZcDvK245HU
— Chainlink (@chainlink) April 17, 2024
Founded last year, Cyfrin is a platform that provides advanced smart contract security audits, tools, completion and training. It operates some of the world’s largest blockchain networks and protocols with more than $10 billion in assets under management collectively.
By partnering with the company, Chainlink will serve BULD and SCALE users. The former promotes the growth of projects that build on Chainlink by providing technical expertise and tools in exchange for network fee commitments, while the latter primarily targets Layer 2s by covering the costs of their oracle integrations. As Crypto News Flash reported, Rollup Finance and Source Network joined BUILD last year.
Chainlink and Cyfrin will improve smart contract security
Cyfrin combines hundreds of leading global researchers and engineers to improve the safety of its customers. It does this through products such as Cyfrin CodeHawks, its competitive audit platform that offers security assessments conducted by top auditors.
Cyfrin Updraft provides a learning platform for Web3 developers with over 70 hours of step-by-step project-based courses on smart contract implementation and security, taught by some of the world’s top blockchain engineers.
The company also offers Solodit, a platform with more than 8,000 security findings; Customers can use this resource to learn about the most common vulnerabilities and attack vectors, helping them improve their security and stay one step ahead of cybercriminals.
“When it comes to building on-chain applications, security is not a nice-to-have; it is a necessity,” said Peter Hubert, head of sales at Chainlink Labs.
Security is indeed not a luxury in the blockchain world. Cybercriminals are always looking for platforms, protocols, networks and applications with the slightest vulnerabilities, attacking them and looting millions of dollars.
According to a study by Chainlysis, these criminals stole $1.7 billion last year, of which $1.1 billion came from DeFi protocols. The year before, they made $3.1 billion from DeFI platforms alone.
Alex Roan, CTO and co-founder of Cyfrin, commented:
Chainlink’s relentless focus on building secure infrastructure has made the platform the industry standard; the same safety-first mentality prevails at Cyfrin. We are excited to form a strategic alliance with Chainlink Labs to support Chainlink BUILD and SCALE members, and ultimately help create a more secure on-chain ecosystem.
Meanwhile, Chainlink’s LINK is trading up $13.23and although it has consolidated during the past day, it has fallen off 24% in the past week.