Dec 16, 2020
How does Baccarat prevent the loopholes in DeFi contracts?
Under the trend of modern technology, the assets locked in the blockchain industry are getting bigger. The crisis hidden behind the computer has become increasingly hideous with the development of blockchain.
According to statistics, in the average of computer industry, 1–25 loopholes will appear for every 1,000 code. The probability range is 0.1%-2.5%.
In smart contracts, any small loophole may cause irreparable losses to the project or investors.
As the most popular project in the DeFi sector, due to the continued popularity of BGV, the Baccarat’s market recognition is getting higher, and the transaction volume is increasing. The security protection of the Baccarat smart contracts has gradually become the focus of investors’ attention.
All of Baccarat’s initial contracts have undergone security audits and high-intensity testing. All tests have reached A1 level, so that the investors can be rest assured. The security audits have become the standard for high-quality DeFi projects today. As most of the loopholes cannot be discovered through common testing methods and tools, only with the help of professional audit experts to prove rigorous digital models can they be discovered. Formal verification is currently the only proven verification software method that can be proven to produce credible mathematics.
At the same time, the Baccarat uses high-performance network equipment and top hardware products. At the same time, it improves the IP strategy and traffic strategy. It hides and confuses the server IP in a distributed manner, which increases the difficulty for hackers to find the real IP. Besides, it has effective traffic restriction, which can resist the DDOS attacks by hackers without affecting the normal operating users. At the same time, the Baccarat’s protection team can achieve rapid transfer and high resistance. In simple terms, it can prevent attacks without raising any platform’s security issues.
The Baccarat is built on NGK. Based on the NGK’s blockchain properties, anyone can publish a smart contract and it cannot be modified after the release. If a serious loophole is discovered after the release, then the contract will basically be abandoned, and it will be redeployed after modification. If contract loopholes are discovered after operating for a period of time, the losses to the DAPP developers and users are huge. Therefore, the NGK adopts a review mode for newly released contracts. The DAPP developers can freely issue smart contracts through the official website. Submit the contract for review, the NGK technical team will audit and test the smart contract, and effectively filter out inferior contracts by blacklisting and whitelisting. Hence, it can avoid the trouble caused by the inferior contracts on the blockchain.
