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South Korea’s Coinone signs a deal with Certik, Xangle to Upgrade Transparency and Security Features

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In order to guarantee crypto investors with more transparency and security Coinone (a giant South Korean cryptocurrency exchange) has entered into a partnership with CertiK (a cybersecurity audit company) and Xangle (a disclosures company).

News about the recent partnerships came out on Aug. 7. CertiK and Xangle are mandated to provide smart contract audit information and public disclosure information— as Coinone announcement revealed.

Xangle disclosures aim at protecting crypto investors and enhancing the transparency of projects. For that to be achieved, useful information should be provided in the disclosures, including new token unlock, token governance, investment stocks volatility, and the project’s business model changes.

On the other hand, Certik aims at performing audits for Coinone’s listed projects. Therefore, the company will review projects at a code level and audit code security exploits as a preventative measure.

Back in April 2018, Coinone had made clear its intention to expand to Indonesia. Come to its launch in June, the exchange was slated to support six cryptocurrencies, including Bitcoin, Bitcoin Cash, Litecoin, Ethereum Classic, Ether, and Quantum.


Blockchain System upgrade

Besides the partnership, CertiK had on July 22 launched a native blockchain to improve its systems. Essentially, DeepSEA — a functional programming language — was apparently used to develop smart contracts on the CertiK Chain. The good thing with DeepSEA language is that it has a code that guarantees security. Qtum — an open-source blockchain project in conjunction with the Ethereum Foundation — funded the development.

The announcement did not fall short of describing the Certik Chain nodes which will run on CertiKOS as able to grant military-grade security to foil hacking attempts due to its “fully verified hypervisor / concurrent OS kernel.”

Source: https://cointelegraph.com/news/coinone-exchange-partners-with-two-firms-for-improved-safety-measures

About the author

James Lovett

James Lovett

James is a passionate writer on cryptocurrency industry and other disruptive technologies in the crypto world. He has written several crypto articles for numerous websites and blogs over the years.

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