Bridge Mutual Announces Zokyo Collaboration to Enhance Overall Security

Bridge Mutual is happy to announce our newest partnership with Zokyo, a premier blockchain security firm and code auditor. Moving forward, Bridge Mutual and select projects will have their code audited by Zokyo, adding an additional layer of protection against hackers and malicious parties.

Taking Security to the Next Level

Insurance is an extremely important buffer that allows for the survival and growth of the entire DeFi economy. As such, it is important to us that Bridge serves as the gold standard of security on the blockchain. We at Bridge are happy to announce the first of many coming partnerships with blockchain auditing firms: Zokyo, formerly known as Hosho, is one of the most sought after code auditors and security firms in the blockchain space. Zokyo will be providing Bridge Mutual with industry-leading security evaluations and code auditing, bolstering protection against potential threats. Zokyo is trusted by leading blockchain projects and Fortune 500 companies alike as a security and development company.

What is Code Auditing and Why is it Important?

In the developing market that is the blockchain ecosystem, there are innumerable stories about projects (both new as well as established) that have been exploited by hackers. This leads to value being stolen from the end users, sometimes to the tune of hundreds of millions of dollars. But while these hacks are an inevitable part of a maturing market, they can be avoided.

With multiple audits from various independent and professional auditing companies, millions of dollars a week could be saved, and the reputation and credibility of many solid projects could be spared. Even advanced blockchain developers sometimes accidentally leave critical attack vectors that end up going unnoticed in their code, creating an opportunity for theft from malicious actors. On top of this, some teams may not have the ability to properly stress test their network, an important factor to determine the potential exploitability of their code.

With billions of dollars on the line in the blockchain space, hackers are always on the prowl to see if they can pinpoint any code vulnerabilities that they can take advantage of. That is why Bridge intends to partner with dozens of the industry’s top auditing firms to audit both Bridge and other popular and upcoming projects. As Bridge’s first auditing partner, Zokyo will tests the functionality of Bridge’s code both before launch and regularly for many years to come. This additional layer of security is all but standard in almost every other field.

Benefitting Our Stakeholders

With continued growth and investment in the blockchain sector, it is obvious which direction the future of transferring value is going, and we are here to provide the necessary measures to make sure they are protected. As more companies and users begin to invest and use digital assets, the stakes for both blockchain projects and hackers will continue to increase as more money is on the line. With over $15 billion in total value locked in DeFi alone, and many of these projects going unaudited, the DeFi space may continue to suffer at the hands of hackers. Bridge will blaze the trail in creating a new standard of care in the industry with audits and insurance being of the utmost importance.

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Bridge Mutual

Bridge Mutual | A decentralized, discretionary coverage platform for Smart Contracts, Stablecoins, Exchanges and More.