Binance Labs, the social impact fund and an initiative to digital currency exchanging stage Binance, began October with three noteworthy moves that advance the headway of blockchain innovation. Three blockchain startups have been backed by Binance Labs, and these are CertiK, Contentos, and Oasis Labs. These firms help Binance Labs to achieve their main goal of enabling best blockchain activities to clear up the issues that count maximum to the ecosystem like content creation and dissemination, security, and protection, etc.
CertiK: To ensure the most elevated amount of security in smart contracts and blockchain environments using Math
On Oct 8, Binance Labs declared that it had invested several million dollars in a blockchain cybersecurity company, CertiK.
CertiK centers on the smart contract and blockchain auditing and they expect to make better security in these kinds of stages. It uses formal verification technology to scientifically guarantee the most elevated amount of security in smart contracts and blockchain environments. To put it plainly, the formal verification innovation revamps into blockchain applications and changes the software code into numerical proofs, and undisputable computations.
This association features the significance of formal verification in the blockchain industry, and Binance Labs CEO Ella Zhang concurs that:
“CertiK scientifically approves the security of smart contracts which is a significant pain factor we are dealing with in the blockchain environment, avoiding the manual detection limitations.”
Binance Labs is usually searching for fresh and inventive startups that can make the blockchain environment a more protected and riskless space. CertiK’s mathematical, profound innovation way to deal with explaining the security problem in numerous blockchain applications sidestep the constraints of manual identification and propels blockchain to confronting more unpredictable issues ahead.
Contentos: To give a decentralized environment to content makers
At the beginning of this month, Binance Labs invested a large number of dollars in Contentos which is a decentralized content ecosystem for content creation and distribution.
One such functionality of Contentos is that it incorporates content distribution underneath its open-source-code blockchains. The group intends to give a decentralized environment to content makers to have the inventive opportunity and to leave their advanced impression without the risk of the 3rd party interference.
Binance Labs is committed to distinguishing the real use cases to execute blockchain innovations, and they think Contentos is the correct group having basic assets to unravel the torment issues of the content creation industry.
Oasis Labs: To support security arrangements on the Blockchain platform
Blockchain startup Oasis Labs revealed that it has collaborated with some prominent investment firms and hedge funds to release a new startup program and Binance Labs is one of its accomplices in framing Oasis Startup Hub.
Binance Labs consented to be a valued consultant of the members in the Oasis Startup Hub. It perceives the expertise of Oasis Labs in adhering to security arrangements on blockchain platforms.
Back in July, Binance Labs was one of the fundamental financial specialists behind $45 million subsidizing round of Oasis Labs to create the privacy-first cloud computing blockchain solution.