There is a Solution to the Problems of Trust Management!
Hacken performed a Smart Contract Audit and Penetration Testing of Membrana
Have you ever paused in thought before investing in one or another project? Have you ever been confused as to where and how it’s better to exchange your crypto? Have you ever had doubts whether you can trust the trader? Being an investor, you definitely might have had such thoughts milling about in your head.
Hacken’s new partner, Membrana, is looking towards resolving all your worries. It’s a blockchain platform for concluding mutually beneficial and secure contracts, between investors and traders for trust management of cryptocurrency assets.
Why do we need trust management for assets?
Crypto exchanges are a tool to profit from crypto asset trading, but they are far far far (far) from being perfect. The modern market of cryptocurrencies is highly volatile. On the one hand, it enables successful traders to display extremely high yields. On the other hand, it brings great risk to all market participants, but first and foremost, to all the beginners.
Therefore, trust management of assets is a sphere that has always been in high demand. Investors are ready to entrust their assets to successful traders to generate income. The cryptocurrency market is no exception and is of increasing interest to both investors and traders. Currently, there are a lot of risks related to giving your money in management, such as fraud, lack of trust and other counterparty risks.
As a result, Membrana has created a unique algorithm to avoid risks for both participants of a deal to make cooperation more profitable and safer.
What is the Algorithm?
The primary objective of the Membrana platform is to directly connect an investor and a trader to conclude a mutually beneficial, secure, and reliable contract. The platform allows an investor to give traders an opportunity to manage funds, but not to possess them. Thus, the latter trades with the investor’s exchange account through Membrana unique interface. It is necessary to mention that investors do not transfer their funds to Membrana as well, the funds are always on their exchange’s account. The trader is assured of his payment because his commission fee is guaranteed with the help of Ethereum Smart Contract.
Follow Membrana’s Telegram Community for more details!
What did Hacken do?
Hacken has recently performed the smart contract audit of Membrana. For 10 days, two different and independent auditors have been verifying the SC. They checked whether the SC corresponded the intended logic, and with the help of gas analysis auditors ensured that unnecessary fees are not paid. Eventually, some potential vulnerabilities were uncovered which don’t allow unauthorized access or an opportunity to steal sensitive data. Eventually, a detailed report of certification with recommendations was handed over to Membrana.
Having performed the audit of the client’s infrastructure, the Hacken team concludes that Membrana is safe enough as the identified vulnerabilities can be eliminated easily and within little time. We always eagerly anticipate announcing our new partnership, as all our clients bring fantastic innovations to the world. This time it’s all about trust management solutions. Let’s watch together how Membrana will change the crypto community with new promising innovations.
It’s a community-driven business organization, consisting of the HackenHub, HackIT cybersecurity forum, HackenProof bug bounty platform, and Crypto Exchange Ranks.