Binance-Backed Blockchain Auditing Firm Associates With Hdac to Track IoT Devices
Auditing firm CertiK and Hdac are teaming to bring the Internet of Things (IoT) devices onto a blockchain. Hdac’s blockchain platform strives to connect secure authentication, seamless mapping, and machine-to-machine transactions in a blockchain network with IoT devices. CertiK’s team of blockchain engineers operated closely with Hdac to audit the design and implementation of its codebase, which is anticipated to be released shortly, the companies said in a statement on Friday.
Hdac had previously tapped CertiK to audit its codebase, where the security firm discovered Hdac’s plans to create blockchain solutions, a CertiK spokesperson stated. This led the company to seek out a formal collaboration. A codebase is a combination of source code utilized to build software systems and serves as a general repository.
“Because of their [Hdac’s] future plans, we decided it would make sense to formally partner with one another as a public promise of Hdac’s focus on security and a symbol of CertiK’s ability to support larger enterprise-level solutions such as Hdac’s,” CertiK’s marketing manager, Connie Ngo, said in a statement.
In enhancement to their formalized association, CertiK co-founder Ronghui Gu will also be joining Hdac’s advisory board. Hdac Technology AG is headquartered in the crypto-friendly region of Zug, Switzerland, and was established by the CEO of Hyundai BS&C, Dae-sun Chung. Hyundai BS&C is an independent IT and construction company with no legal connection with the car company Hyundai Motors.
The security firm is best known for getting “multiple millions” of dollars from Binance’s blockchain and crypto incubator wing Binance Labs in October 2018. Hdac, on the other hand, entered into a strategic alliance with blockchain startup CasperLabs to jointly research and develop consensus mechanisms and the seamless combination between the HDAC and CasperLabs blockchains back in June of last year.
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