Astra Protocol, a compliance and decentralized KYC Platform for Web3, has managed to score a security analysis score of 10 out of 10 along with a score of 9.8 in the customer’s smart contract segment conducted by Hacken audit, that evaluates vulnerability assessments of smart contracts deployed on the Ethereum network as well as identification of security flaws.
On January 26, Astra took to Twitter to announce the protocol has performed exceptionally well in the Hacken smart contracts audit barring a handful of risks. The Hacken audit process aims to make sure the blockchain apps are safe to use and identify any possible vulnerabilities to avoid hacks and other security breaches. The process comprises of several parameters such as a study of the architecture and design of the app, testing to identify bugs that includes both automated and manual testing and lastly, to submit a detailed analysis of the report.
🎉 We are thrilled to announce that #AstraProtocol passed the Smart Contract Audit by @hackenclub with an exceptionally high score of 9.8 following a comprehensive assessment.#Astra smart contract also got a #Security score of 10/10 in the #audit. https://t.co/KgOq0OEoXc pic.twitter.com/TafvkkhhjR
— Astra Protocol (@AstraProtocol) January 26, 2023
Astra Breaks a Leg
According to the Hacken report, Astra has secured the total code quality score along with the security score of 10 out of 10. Meanwhile, the customer’s smart contract which is an essential form of security testing for Web 3.0 projects, has hit a score of 9.8. However, the audit has also reported some vulnerabilities such as Token vesting, lock-up, rewards and burn are not implemented in this contract. The risks include various limitations like environment consistency, secure oracle usages, gas limit and loops and token supply manipulation among others.
Launched in 2013, Astra has received a lot of attention. It offers an on-chain dispute resolution system by adding a legal assurance layer to block-chain-based smart contracts. This means the protocol simplifies the process for any other decentralized finance (DeFi) protocols to meet know-your-customer (KYC) and anti-money laundering (AML) regulations without changing their underlying business models through its plug-and-play software.
The primary objective of Astra is to bridge the gap between the crypto industry and the traditional financial sector by adding an on-chain layer of assurance and safety enabling smart contracts to automate business logic in a decentralized manner.
Astra Aims to LEad in Compliance
Recently, former White House Chief of Staff, Mick Mulvaney, who is also a Strategic Adviser to Astra Protocol discussed their compliance work in the U.S. and around the globe to bring Web3 mainstream. He emphasized several ways Astra is bringing the crypto and blockchain technnology to the masses.
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Astra Strategic Advisor & the Ex-White House Chief of Staff, @MickMulvaney, attended a prime time discussion on @CoinDesk TV on Jan 24 and shared his perspectives on the #crypto space, reasons for supporting #Astra & more.https://t.co/WHBycsSOfZ
— Astra Protocol (@AstraProtocol) January 25, 2023
Earlier this week, Lord McNicol, a prominent figure in the blockchain industry joined Astra Protocol as another Strategic Advisor. In a statement, Jez Noah Ali, co-founder and Director at Astra said,
“We are thrilled to have Lord McNicol join our team as a strategic advisor. His wealth of experience in the blockchain and crypto industry will be invaluable as we work to bring added security to Web3 and DeFi. Along with our other high-profile board members, and our partnerships with major regulators across the globe, Astra is well-equipped to lead the industry in regulation and compliance.”
It seems Astra’s commitment to build a strong and experienced team and delivering a high-quality product to its users is coming true. Thedecentralized KYC platform also boasts other high-profile board members such as former EU Commissioner Phil Hogan and former head of Homeland Security, Kirstjen Nielsen.