Save Planet Earth Token Receives a Perfect Score on CertiK
Since the inception of blockchain, security has been paramount. This is because smart contracts run on code and this code must be seal-proof to keep billions in funds secured from hacking. For this reason, in late June, the Save Planet Earth token (SPE) was audited by industry-standard CertiK and it received a perfect score.
It’s important to get a perfect score in a security audit. The benefit of the blockchain is that it is decentralized — no one centralized body has control of activity across the chain — however, without one central enterprise, security relies solely on crucially perfect code.
After all, the beauty of smart contracts is that once deployed, they are immutable and cannot be changed. But this would not be the case if there was a single bug within the code before it was released. In such a disastrous case, hackers have an opportunity to steal huge amounts of money.
Therefore, in order to ensure that the coding is lock-tight, blockchain security firm CertiK was developed. It has since become a global standard for security testing and, as stated, the Save Planet Earth token received a perfect score in its recent audit.
CertiK uses “cutting-edge Formal Verification technology on smart contracts and blockchains”. In other words, it uses pioneering mathematical proofs to ensure program correctness and hacker resistance. The firm has been employed by top cryptocurrency exchanges and DeFi protocols such as Binance, OKEx, and ShapeShift (amongst hundreds of others). And, to date, it has conducted over 250K audits. In essence, it has helped to secure tokens to the value of $8.03B.
Receiving a perfect score in an audit means a token is as safe as can be from penetration — hacking is impossible and tokens are secured from theft. For investors and would-be investors, this is the type of insurance you want when trading in cryptocurrency.
To be audited effectively, SPE smart contracts were assessed by Certrik’s unique mathematical method of formal verification. After that, experienced experts manually reviewed its contract. The results of the audit reported any vulnerabilities found in the code — but achieving a perfect score, of course, means there were none.
It’s good to know though, that if there are any issues, CertiK proposes solutions for them, so they can be amended before the code is released.
The decentralized token will be used as “carbon credits”. This allows those holding SPE tokens to offset their carbon footprint by giving back to mother nature via afforestation, reforestation, reservation, renewable energy, and environmental restoration.
Any holders or new holders of Save Planet Earth tokens can now be assured that their coins comply with industry-standard safety. For Save Planet Earth, security is as paramount as fighting climate change.
Originally published on https://finance.yahoo.com/news/save-planet-earth-token-receives-183500501.html