Blockchain and cryptocurrency are among the most promising technologies already reshaping the financial sectors. Countless new projects using them appear every day. However, not all of them run on risk-free protocols. Solidproof is a Germany-based company employing innovative auditing solutions to make this environment safer for everyone.
Solidproof Delivers New and Efficient Auditing Solutions
Auditing is among the most effective ways of keeping checks and balances in any organization. However, with the entire financial landscape shifting, the future of audits depends on a few key technological trends.
Solidproof provides a comprehensive auditing process, automation of many recurring tasks, and service execution. In 2021, the company’s three founders saw an uncertain future for blockchain-based projects. This was primarily due to the scarcity of proper audit tools and numerous faulty protocols.
Nevertheless, they continued to invest their efforts into creating a more secure environment through extensive auditing solutions. Today, Solidproof has over 350 projects that range in size from industry-leading protocols to up-and-coming applications.
Additionally, the team behind Solidproof.io has worked hard to improve its services. To this end, they fine-tuned their business and continuously adapted to the market’s changing needs. Just recently, they also announced the integration of marketing services to help the project further with their goals. Now, Solidproof plans to introduce its first smart contact automation, which should change the industry for the better.
The Solidproof Audit Process
Solidproof generates audit transparent and thorough reports that identify any problems or vulnerabilities within a protocol’s code. Next, they classify and list these errors depending on their severity level — critical, medium, and low.
Additionally, Solidproof uses built-in KYC (Know Your Customer) standards. The company uses them to establish the users’ identities and determine whether they pose money laundering risks. Furthermore, it helps protocols understand if potential investors get their funds from legitimate sources.
Lastly, Solidproof addresses privacy concerns by storing clients’ data on high-encriptyon servers. This way, it ensures maximum security for potentially sensitive information. As a result, up-and-coming projects can rely on its safe approach to optimizing data storage.
The future looks bright for Solidproof. The company already becoming an industry leader in auditing solutions and expanding its services worldwide. Also, it is working tirelessly to achieve higher efficiency in audit and KYC to change the blockchain landscape forever.
Besides smart contact audit automation, the company team aims to increase security and ensure optimal privacy for its customers. While blockchain auditing may be challenging, Solidproof is off to an impressive start and will soon dominate the industry.
Disclaimer: This article is not intended to be a source of investment, financial, technical, tax, or legal advice. All of this content is for informational purposes only. Readers should do their own research. The Capital is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by reliance on any information mentioned in this article.
Everything You Need to Know About Solidproof’s Audit Processes was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.