Finschia

Hello, Could you please introduce yourself?

Hello, I’m Jason Jiang, the Chief Business Officer at CertiK.

 

Could you describe CertiK and its core business?

Certainly. CertiK was founded six years ago by two professors who brought their methodological expertise to the blockchain domain. Our core mission is to build a robust business around technology, and to date, we’ve audited over 4,100 projects, securing assets worth 370 billion dollars. In April 2022, we successfully fundraised 260 million dollars on a 2 billion dollar valuation, with contributions from Sequoia, Goldman Sachs, Insight Partners, and SoftBank. We’ve established ourselves as market leaders in security solutions within the Web3 industry. Our goal is to reinvigorate our auditing business and rapidly become a one-stop security solution provider for blockchain. Oh, and the name “CertiK” is derived from “certified kernel,” and it is literally Certi + K (laugh).

 

❖ kernel: the core component of an operating system and the certified kernel is used in high-security environments

 

How does CertiK identify code vulnerabilities, and what sources do you rely on?

Building on top of the past 4,100+ auditing experience, our audit work generally involves 5 steps: threat modeling and preparation, automated analysis, expert manual review, dynamic analysis, and remediation with the project team. We have vast experience in auditing Layer 1 and Layer 2 chains, apps such as Defi, DEX, GameFi, wallets, and Web2-related frontend and backend penetration tests.

 

Could you highlight the strengths of CertiK’s code audit services?

Of course. Our key strengths are our engineering resources and capabilities, vast experience spanning 5–6 years across different ecosystems, and a market share of 60–70% from auditing 4,100 projects. We also have a large team of engineers who keep working on tools to improve the accuracy and efficiency of auditing work.

 

Regarding the recent partnership between CertiK and the Finschia Foundation, what does the audit of the Finschia mainnet involve?

CertiK performed a full security audit before the Finschia mainnet launch. First of all, the coding that was developed by Finschia is first class with comprehensive testing already. CertiK identified many issues with different severity levels. Finschia and CertiK worked together to address those findings, and we consider all the important findings to be resolved. Furthermore, CertiK agrees to be a validator for Finschia, enabling us to provide continuous security services to Finschia and its participating projects. We are very much looking forward to it.

 

You mentioned CertiK provides comprehensive code audits for dApps and services integrating with the Finschia mainnet. Could you provide more details on how your team plans to contribute to the Finschia ecosystem?

We will bring our vast auditing experience in multiple Cosmos-based ecosystems to Finschia-based dApps. By partnering with Finschia, CertiK is determined to provide fast-track service to the ecosystem participating projects. Our efficiency will also further help lower the cost of auditing work. Furthermore, our on-chain monitoring system will help Finschia to be compliant with local laws and be alerted when incidents happen.

 

What initially piqued your team’s interest in the Finschia project?

Knowing the history of the Finschia ecosystem is so intriguing. What Finschia brings to Web3 is exactly what Web3 lacks — the possibility of vast adaptation and bridge of Web2 to Web3. Being the leader of Web3 security providers, we welcome the challenge of providing comprehensive security enhancement to the Finschia ecosystem.

 

Are there any specific services within the Finschia ecosystem that stand out to you?

Finschia’s connection to LINE, with its 200 million users, offers numerous possibilities. It’s a significant move to transition from LINE to Finschia.

 

You’ve repeatedly mentioned ‘providing world-class security solutions’ in your recent PR. Could you elaborate on what this entails?

We start with an academic approach, with most of our engineering team members holding doctorates. Our leadership position in the industry is earned by devoting significant resources to security, both in terms of funds and engineering expertise.

 

How do you assess the current state of network security as the Web3 ecosystem expands?

Web3 is still in its infancy, lacking industry standards. Different blockchains, like Finschia on Cosmos, each have their own approaches to security. While audits help, they don’t solve all problems. Last year, the Web3 industry saw losses of 3.6 billion dollars due to security issues. Collaboration between service providers, project owners, and users is crucial to improving security.

 

What do you foresee as potential future threats to blockchain network stability and security? How can we safeguard against these threats?

Centralization remains a significant threat, along with connecting Web3 to Web2, particularly with issues related to wallets and real-world money. Phishing and scams, as well as tokenomics concerns, will continue to be problems. We expect new challenges to emerge as well.

 

What is CertiK’s ultimate goal in the field of blockchain cybersecurity?

Our ultimate goal is to be the standard for others to follow. We aim to be the go-to cybersecurity partner for companies in the blockchain industry, and our recent collaboration with Finschia is a testament to our commitment to achieving that goal.

 

Do you have any closing remarks or final thoughts?

In closing, we aspire to ‘be the magnetic force’ in the blockchain industry, attracting companies to prioritize security. We see the Korean market as especially attractive, and our partnership with Finschia is a significant step towards achieving our goals. Thank you for the opportunity to share our vision and mission with you today!