The Universal Protocol Alliance, a coalition of leading blockchain organizations including Bittrex International, Uphold, Brave, Cred, Blockchain at Berkeley, and BitGo, has announced CertiK, a technology pioneer in blockchain security and auditing with over $1.2B in assets secured, has joined the organization. The news was announced at the Universal Protocol Alliance Council meeting in San Francisco and was attended by the leadership of the member organizations, media, and influential members in the world of blockchain.
The Universal Protocol (UP) Alliance is a growing coalition of the biggest and most respected organizations in the world of blockchain that have united around a new universal transparent reserve standard that aims to attract the next 100 million users to cryptocurrency. The combined expertise of each member organization has enabled the creation of the Universal Protocol Platform, a technology platform that allows for the minting, custody, and storage of digital ‘proxy’ assets that allow for better digital asset products, and the introduction of a set of safeguards required for the mainstream adoption of cryptocurrency.
CertiK, founded by Yale Department Chair of Computer Science Zhong Shao and Columbia University Assistant Professor Ronghui Gu, has developed patented Formal Verification technologies combined with best-in-class security experts to offer smart contract auditing, penetration testing, and threat detection for blockchain. The company is highly regarded by leading researchers and premier investors, and it recently announced a grant from IBM for Professor Gu’s research on the DeepSEA program language to create formally verified smart contracts in Hyperledger Burrow.
“CertiK is one of the most trusted blockchain security technology companies in the world and is on the cutting edge of research and innovation,” said Dan Schatt, Chairman of the Universal Protocol Alliance and also President of Cred. “Their involvement in the UP Alliance further demonstrates UPP’s commitment to smart contract code integrity, transparency and value substantiation, the foundational elements needed to give everyone the confidence in using universal tokens the Alliance will be minting the coming weeks, months and years.”
By joining the UP Alliance, CertiK will lend their smart contract security, leveraging mathematical proofs to audit a host of tokens that will be launched on the UP Platform, starting with the Universal Dollar to be released shortly.
“Bringing the next 100 million users into cryptocurrency is a bold, but necessary mission for blockchain technology. It is a milestone that cannot be achieved alone,” said Daryl Hok, COO of CertiK. “We are honored to join this prestigious group of organizations and excited to use our technology to provide the most rigorous security assurances and facilitate greater adoption.”
The UP platform will enable a new world of tokenized digital assets – ranging from Proxy blockchains such as Bitcoin, to Proxy securities, and Proxy private equity – and will facilitate the instant and seamless conversion of different forms of value. In doing so, the UP Platform will unlock the vast and untapped full potential of blockchain to transform how individuals and businesses store and transfer value, with Proxy Tokens representing the next generation of digital money.