Ontology has announced its cooperation with DVP, the world’s first decentralized vulnerability platform. Ontology will provide blockchain underlying technology support, build a distributed vulnerability sharing platform, and work together with DVP on the development of an open blockchain security platform and developer ecosystem. DVP will also airdrop to Ontology community members who have completed identity verification.
The security and reliability of blockchain technology plays a key role in its development. According to the latest data from BCSEC (a China-based blockchain security network), economic losses caused by security issues worldwide has reached a high of $3.35 billion USD.
Even with precautions incidents still occur. The main reasons for this are the imbalance of security expert specialties and skills, reliance on specific security personnel for project security, the imbalance of personnel supply and demand, and the insufficiency of traditional safety testing.
DVP has implemented a security crowdsourcing model which utilizes the anonymity of blockchain to address this serious issue. So far, DVP has found 2,757 vulnerabilities for 1,038 blockchain projects, which is equivalent to avoiding millions in losses for the industry.
Speaking on this cooperation, DVP Project Leader DENG Huang said:“In this cooperation, we will use Ontology’s leading public chain technology to accelerate the development of decentralized use case scenarios for the DVP platform. At the same time, we invite more projects to join DVP and release security bounty reward programs, which will bring better security to enterprises”.
Ontology’s Chief Strategy Officer Andy Ji believes:“Blockchain security should not be underestimated. Since we released our bug bounty program, we have been interacting more with the technical community and timely solved some security vulnerabilities, which has helped us build a more secure chain network system”.
DVP (Decentralized Vulnerability Platform) aims to build an anonymized and security crowdsourcing through a decentralized vulnerability platform. DVP is devoted to solving the security crisis of blockchain companies. We will link the blockchain technology companies, security companies, Baimaohui, and other community members to minimize the risk of vulnerability exposure at minimum cost and contribute blockchain ecosystem security.