In the boom times of the market DeFi, the need for a secure platform for technical development is immense. Grasping this need, Certik Protocol is constantly developing and delivering essential products. So what's special about Certik's ecosystem and what is the potential in the future of this system? Let's find out with T_REX in the article below.
What is CTK?
CTK is the official native token of the platform Blockchain – CertiK Chain.
CTK token has 2 uses:
- Fees: CTK used to pay transaction fees and smart contract deploy on CertiK Chain.
- Staking: Nodes use CTK for staking to secure the network.
- Voting: CTK holders can propose and vote on improvement proposals of CertiK Chain.
- Payments: Use CTK to pay for Audits and Security operating costs Oracle and CertiKShield.
- Collateral Asset: CTK is used as collateral in CertiKShield.
- Voting Claim Proposals accepts or declines Shield Purchasers' refund claims.
What is CertiK?
CertiK or CertiK Chain is the foundation blockchain security is built with the goal of raising the security standards of DApps and Blockchains.
The 4 main components that make up CertiK Chain include:
- CertiK Security Oracle: The solution protects on-chain transactions and real-time attacks against cryptocurrency projects.
- CertiKOS: The multi-core secure operating system developed by CertiK ensures that programs run as intended.
- CertiK Virtual Machine: CertiK Chain Virtual Machine (CVM) allows users to access, test, combine smart contract and information security. In addition, CVM is fully compatible with Virtual Machines Ethereum (EVM).
- DeepSEA: CertiK Chain's virtual machine-compatible secure programming language, Ethereum WebAssembly and AntChain.
In addition, CertiK also has a component that is not part of the core technology of CertiK Chain - CertiKShield.
CertiKShield: Service provides refunds of lost, stolen or inaccessible crypto assets of any blockchain network due to security issues.
The problem Certik poses
- The vision of a decentralized, trustless world has opened up many possibilities for growth, but the advantage of full ownership of virtual assets also comes with new risks.
- The rapid rise in value across the industry, malicious attacks by hackers, and unproven economic models.
- The blockchain infrastructure and application logic are highly transparent to hackers. Usually completely open source and post-implementation immutability. This makes it extremely difficult to maintain the sustainable security of digital assets.
- Current blockchain security analysis is performed in a centralized process through a small number of security auditors. Very few users take the time or have the ability to independently investigate whether the code is indeed secure and correct. Instead, they trust the centralized process.
- Blockchain security has limitations as it is considered an off-chain property. CertiK believes that security intelligence should be accessed in real time and on-chain, rather than off-chain. Let them bring new added value to the blockchain by allowing smart contract and chain execution to automatically establish, validate, and differentiate security levels.
Secure on-chain transactions and protect crypto projects from malicious attacks by conducting real-time security checks. Powered by a decentralized network of miners.
Provides flexible, decentralized reimbursement for lost, stolen or inaccessible crypto assets of any blockchain network due to security issues.
By leveraging real-time Security Oracle scores and CertiK chain governance, a decentralized membership network can provide collateral, receive rewards, and vote on claims. to protect the blockchain community.
A secure programming language and compiler toolbox compatible with CertiK Chain's virtual machines, along with Ethereum Ant Financial's WebAssembly and AntChain.
CertiK Virtual Machine (CVM)
Fully compatible with virtual machines Ethereum (EVM), CVM allows users to access, test, and combine smart contracts and blockchain security information. This allows smart contracts to change their behavior based on the security certificates of other smart contracts.
- Example: One lending contract can only provide a loan for one KNIFE contract if it proves to be provable security.
What is special about CertiK (CTK) project?
- For economy and performance, CertiK Chain uses Delegated Proof of Stake (DPoS) (DPoS) Authorised.
- For accessibility, the string uses Cosmos framework is modular and inter-chain friendly and has a virtual machine that is fully compatible with EVM.
- For decentralization of security, the chain has a built-in decentralized security oracle to prevent security attacks in real time.
- To minimize the chain level and protect digital assets against security issues, the chain has a built-in decentralized asset pool for cryptocurrency loss.
The founding team of Certik can be said to be classified as a giant. The two co-founders of this project, Zhong Shao and Ronghui Gu, are both PhDs in computer science at prestigious universities.
In addition, management levels such as Certik's COO, CSO or service manager are talented and experienced representatives in the engineering industry.
Certik's development journey:
- Sat – Nov 2019: Completed Alpha Tesnet 1.0 & 2.0 and Beta Tesnet 3.0.
- March 2020: Full Testnet.
- October 2020: Mainnet Deployment.
Learn more about the Certik . whitepaper here.
Update information about Certik here.
In 2018, Binance Labs has officially invested in the Certik project.
Also, as mentioned above, this is the project that is Binance choose to send gold and integrate into their ecosystem.
Community development strategy
CertiK will initially focus on building communities in China, Korea, North America, and Europe, and will gradually expand to other regions as the project grows.
- Work with existing customers to launch CertiKShield Pool.
- Integrate with major protocols to provide on-chain security through Security Oracle.
- Working on projects Binance Smart Chain for technical integration and partnership.
- Archive instructions DeFi, digital meetups and giveaways to educate and engage users.
- Actively communicate with the public through social channels.
- Launching CertiKShield yield farming to reward CTK for collateral providers.
- Cooperation with CoinMarketCap and other cryptocurrency aggregator sites to integrate security scores and audit report history.
- Initiate localized Ambassador programs to host meetups around the globe.
- Conduct global online hackathons.
CTK Token Allocation
With a fixed total supply of 100 million tokens, CTK will be distributed by the CertiK Foundation with the following ratios:
- 1.5% raised capital through Binance Launchpool.
- 29% raised capital through the first round of private sale.
- 9% sold in the second round of private sale.
- 10% is held by the CertiK development team.
- 25% belongs to CertiK Foundation.
- 17.5% as Community Pool budget.
- 8% as CertiKShield Pool program.
CTK Token Sale
CertiK raised capital through 2 rounds of private sale (time not specified) with a total capital raised up to 39.43 million USD.
The detailed data is as follows:
- Private sale 1: Selling 29,000,000 CTK at $0.77/CKT, earning $22.33 million USD.
- Private sale 2: Selling 9,000,000 CTK at the price of $1.9/CKT, earning the amount of $17.1 million USD.
CTK Token Release Schedule
Total initial circulation token (Initial Cir.Supply) of CertiK is 22,100,000 CTK (22,10%) which includes:
- Binance Launchpool: 1,500,000 CTK
- Private Sale 1: 3,500,000 CTK
- Private Sale 2: 8,000,000 CTK
- Team: 2,500,000 CTK
- Foundation: 1,000,000 CTK
- Community Pool: 5,600,000 CTK
78,900,000 CTK, equivalent to 78.9%, the remaining tokens will be disbursed over time as shown below:
Secure CertiK (CTK) storage wallet
Currently, CertiK (CTK) can be stored on the official wallet issued by the CertiK Foundation – DeepWallet. It can also be stored on exchange wallets….
CertiK has enough ambition to become one of the leading projects. The security of smart contracts in the field of decentralized finance (DeFi) is paramount, so CertiK has every opportunity to cooperate with leading crypto companies and decentralized exchanges. concentrate. It's only a matter of time and investing in CTK is best viewed from a long-term perspective.