Harmony chain, the fast and reliable open blockchain network for decentralized applications supporting thousands of nodes in multiple shards, is now all set to empower a secured DeFi ecosystem for users. For this, Harmony has partnered with CertiK, a real-time on-chain oracle security solution powered by Skynet, to provide decentralized security monitoring and to ensure a more decentralized ecosystem.
Decentralized finance aims to set up an open financial ecosystem with less discrimination and censorship. The Harmony chain is taking a giant leap to make the DeFi more secure and trustworthy to eliminate this problem.
Moreover, Harmony’s partnership with CertiK Security Oracle will provide robust security insights for users as well as for the dApp developers on the Harmony platform. Harmony will be awarding grants for applications that will leverage CertiK tech stacks on the Harmony protocol as part of the $7M grants program initiated by Harmony to boost up the fintech sector.
The current security contributions for DeFi only include static Smart Contract checks, which effectively catch destructibility before the DeFi Smart Contracts go live. Therefore, they cannot provide security to the DeFi apps.
Here is where the CertiK’s Decentralized Security Oracle comes as a rescue. It is a solution evolved by CertiK to protect on-chain transactions and DeFi projects from harmful attacks via real-time safety controls. The mission of CertiK oracle solutions is to bridge the gap between software security services and DeFi projects. Therefore, with this partnership, Harmony will be able to scale trust for billions of people amidst creating a fair DeFi economy.
Following the mainnet launch on the Harmony platform, CertiK is getting more cross-chain collaboration opportunities with other leading blockchain projects. Together with CertiK, the Harmony chain will give people the power to trust in blockchain by boosting the adoption of provably secure software; the partnership aims to raise the standards of security across the entire DeFi ecosystem.
Daryl Hok, the COO of CertiK, said regarding this partnership,
Stephen Tse, the Founder and CEO of Harmony, also lauded this partnership and stated,