Blockchain News

Smart Contract Audit Program Launched by NEAR Foundation

NEAR Foundation has launched its Smart Contract Audit Program with two features. The aim is to enhance the process of choosing an auditor, making it seamless for users to get in touch with an auditor with relevant skills and experience.

The program’s launch marks an important step in expanding the operations and improving the security of the foundation’s ecosystem.

Also, the launch of the Smart Contract Audit Program answers the requests of many users who have been demanding a higher number of auditors on retention.

New Auditor Ingest Form is the first feature to play an important role in allowing the interested auditors to register on the platform. The feature will enable auditors to illustrate their capabilities when registering. Their registration submission will be followed by a review process conducted by the team before onboarding a new auditor.

The NEAR Foundation benefits from the New Auditor Ingest Form as it gives better clarity to the foundation about an auditor before hiring them while also presenting a list for selection.

Smart Contract Audit Request Form, as the name suggests, is the form that allows users to request a smart contract audit. It is available for projects built on NEAR, and projects must show a funding plan for the smart contract audit.

Projects are immediately queued after they fill out the Smart Contract Audit Request Form. Only those audit firms will perform the audit on the platform as retainers.

Isha Tyagi, the Manager of the Smart Contract Audits Program at NEAR Foundation, called these features an important step to growing the ecosystem while ensuring the availability of quality audits for NEAR-related audits.

Isha Tyagi emphasized that the program would enable the foundation to expand and uplift the security of companies on the NEAR platform. Interested candidates can apply for either of the forms over the internet. Details like name, email, audit firm, and experience will have to be provided while filing the New Auditor Ingest Form.

Details like name, email, and other relevant information will have to be provided while filing the Smart Contract Audit Request Form.

NEAR Foundation is a not-for-profit organization with its headquarters in Switzerland. The responsibilities of NEAR Foundation are:-

  • To contract protocol maintainers;
  • Shepherd core governance of the NEAR Protocol; and,
  • Fund ecosystem development.

The three initiatives that have put the NEAR foundation in a good spot are Aurora, Proximity, and Satori. Aurora assists developers in running their apps on a platform that is scalable, Ethereum-compatible, and future-safe. It is an EVM built on the NEAR network.

Proximity helps DeFi projects with a mix of services like fundraising, consulting, and development, to mention a few, to empower the segment.

Satori gives artists and musicians a helping hand by allowing them to realize the power of crypto when reaching their fans. Based on the history stated above, it is certain that the Smart Contract Audit Program launch will be a huge success in the industry.

Paul Jolin

Paul Jolin is an economist having experience in financial research. He joined CoinNewsSpan in 2017 and since then has been working with the team to offer best price analysis and review stories on the crypto space. He is optimistic about blockchain technology's use cases in terms of financial freedom. He also has experience as an independent trader.

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