Solidified Becomes Smart Contract Auditor for Polymath

Polymath, a platform for trading tokenized assets, will have its smart contract audited by Solidified, as announced by the parties in a recent blog post.

“The technical team at Polymath truly understands the importance and multi-tiered nature of blockchain security and always seeks to use the best methods to protect their smart contracts,” commented Solidified founder and CEO Eduard Kotysh.

Security is crucial for platforms looking to use an automated process involving smart contracts. Vulnerabilities in logic have led to significant losses for some prominent crypto projects, including platforms like Bancor. But only a handful of companies realize the importance of smart contract auditing and formal verification.

“Security is a critical concern of any organization building an on-chain protocol,” as noted by Polymath technology director Adam Dossa.

Polymath, seen as one of the more promising projects in the crypto space, has the ambition to bring securities to the blockchain. However, the still relatively young technology must be glitch-free in order to deliver real-world value and offer a novel way to trade securities in a modern manner.

Solidified will ensure that all third-party tokens and smart contracts on the Polymath platform are audited and verified. Polymath has also launched a webinar for security token creation. Security tokens are considered the next stage in crypto trades since other types of assets were viewed with suspicion and failed to retain their value on account of being backed by empty promises.

In the past week, Polymath (POLY) saw its market price spike after a drawn-out slide. POLY grew by more than 30% over this period, its price picking up immediately after the partnership announcement on October 18. The asset reached $0.24, adding around 10% in the past day.

Neither the author nor the publication assumes any responsibility or liability for any investments, profits, or losses made as a result of this information. Cryptocurrency trading and investing are risky propositions, and market participants are advised to always conduct thorough research.