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10X Faster, 90% More Affordable Blockchain Security for Users, Investors and Projects
Last updated
10X Faster, 90% More Affordable Blockchain Security for Users, Investors and Projects
Last updated
There are many smart contract auditors out there, but they usually focus on projects and conduct audits manually or with low automation, which is slow and costly. Our approach is different. We recognize that true blockchain security must encompass not just the integrity of smart contracts but also the protection of every participant in the ecosystem.
Veritas protocol offers straightforward tools that let anyone audit tokens and any project's smart contracts 90% faster and at just 10% of the cost compared to competitors. Users can stay protected with scam prevention tools and forensics.
For blockchain projects and developers, Veritas provides a suite of advanced security solutions:
Automated Audits: Continuous, automated security checks ensure a project stays safe around the clock with minimal manual intervention.
AI Debugger: Autonomous AI agents collaborate to review smart contract code and audit reports, suggesting or even deploying fixes in real-time.
Insurance Against Exploits: Veritas offers financial protection against smart contract vulnerabilities and exploit-related losses through integrated insurance coverage.
Blockchain technology is with no doubt a game-changer, disrupting industries with its promise of unparalleled security, transparency, and efficiency. At the heart of this revolution lies the smart contract: a self-executing agreement where the terms are embedded directly in code. Smart contracts automate transactions, eliminating intermediaries and driving innovation in everything from finance to supply chain management.
While powerful, smart contracts aren't without their challenges. Their very strength, immutability, becomes a double-edged sword. Any weaknesses in the code can have irreversible consequences. The rapid growth of Decentralized Applications (DApps) unlocks exciting possibilities, but their reliance on smart contracts for user assets introduces critical security risks. Buggy code can open the door to hacks and exploits, as evidenced below:
Hacks & Exploits: Over $15 billion of funds was lost due to exploits in the Web3 ecosystem to date. $1.7 billion in crypto was stolen in 2023 across over 200 hacks. (2022 was the biggest year ever for crypto theft, with $3.7 billion stolen).
Phishing & Scams: The total funds lost by users to crypto phishing attacks amounted to $300 million during 2023. Exit scams accounted for $136 million over 263 cases in the same year.
But why?
Costly Gatekeepers: Traditional audits can cost tens to hundreds of thousands of dollars, creating a significant financial barrier for early stage projects.
Phishing & Scam Blind Spots: Traditional audits cannot address external threats like phishing scams and social engineering attacks targeting users' crypto wallets and assets.
Focus on the Badge, Not Security: The emphasis on securing a "stamp of approval" from a big-name auditor can overshadow the core goal of identifying and fixing vulnerabilities.
Launch Delays: The time-consuming audit process can delay product launches and token listings, incentivizing some projects to bypass audits altogether in a rush to market, potentially exposing users to security risks.
Auditor Roulette: The quality and clarity of reports, along with communication throughout the audit, can vary depending on the assigned auditor.
High-profile breaches in recent years have underscored the urgent need for stronger security measures. Traditional security and compliance tools simply can't keep up with the ever-evolving complexity of smart contracts. The industry craves a more sophisticated solution.
At Veritas, we recognized a critical gap in smart contract security and knew that artificial intelligence was the key to bridging it. Our platform put to use the power of AI to completely transform how smart contracts are secured, audited, and monitored across blockchain networks.
Traditional smart contract auditing processes are notoriously slow and expensive, primarily due to their reliance on manual labor and extensive time investments. Veritas shatters these limitations with our AI-driven platform, drastically reducing both the time and financial burden associated with audits. Our advanced AI algorithms expedite the auditing process, delivering results up to 10 times faster than conventional methods. What once took weeks or even months can now be accomplished in a matter of hours or even minutes.
Moreover, by leveraging AI efficiencies, we've managed to slash costs dramatically. Our automated audits are up to 90% more affordable than traditional approaches, making robust smart contract security accessible to projects of all sizes.
Veritas goes beyond mere vulnerability detection with AI Debugger. This feature deploys autonomous AI agents that not only identify issues but also suggest and even deploy fixes in real-time. These AI agents collaborate to review smart contract code and audit reports, providing immediate, actionable solutions to vulnerabilities.
This real-time approach to debugging and fixing smart contracts represents a necessary novelty in blockchain security. It minimizes the window of vulnerability between issue detection and resolution, significantly reducing the risk of exploits. Furthermore, by automating the fix suggestion and deployment process, we're enabling developers to focus on innovation while our AI takes care of the security heavy lifting.
Understanding that no system is infallible, Veritas offers an insurance coverage model to protect against financial losses from exploits. This feature provides an additional layer of security and peace of mind for smart contract deployers, investors and users alike.
Our insurance coverage is designed to mitigate the financial risks associated with potential smart contract vulnerabilities. In the event of an exploit, affected parties can be compensated, helping to maintain trust and stability within the blockchain ecosystem. This insurance model not only protects individual projects but also contributes to the overall resilience of the decentralized finance landscape.
Veritas employs comperhensive detection mechanisms to proactively identify a wide range of malicious activities, including phishing attempts, fraudulent dApps, scam projects, and other security threats. Our system continuously monitors blockchain networks, analyzing patterns and behaviors to spot potential risks before they can cause harm.
By leveraging machine learning and advanced heuristics, our detection system evolves and improves over time, staying ahead of emerging threat vectors. This proactive approach to security helps create a safer environment for all blockchain participants, from individual users to large-scale DeFi protocols.
Through these innovative solutions, Veritas is setting a new standard for blockchain security. We're not just providing a set of tools; we're establishing a comprehensive protocol designed to secure, innovate, and empower the entire Web3 space. By addressing the primary challenges facing blockchain security today – speed, cost, accuracy, and proactive protection – Veritas is leading the way for a more secure and trustworthy decentralized future.
Our long term goal is to establish an interoperable security standard that unifies blockchain security measures into a coordinated ecosystem, developing a novel security architecture that supports high-throughput analysis, low-latency threat response, and eventual consensus on security states.
The smart contract market is on a tear, fueled by the widespread adoption of blockchain technology. According to the most recent report the global smart contracts market size is poised for significant growth, reaching $5.2 trillion in 2030, from $775 billion in 2023 [1]. The sales are expected to witness a robust CAGR of 32% and generate over $450 billion in fees annually by 2030. However, with this growth comes complexity. The increasing value and intricate nature of smart contracts have made robust security and compliance paramount.
Our market analysis reveals a significant gap in existing solutions. Many are limited in scope, lacking real-time functionality or the ability to adapt to emerging threats. Some rely on manual code audits, a slow and resource-intensive process. Others offer automated vulnerability scanning, but these tools often fall short in predicting and preventing future attacks.
The market is expected to grow rapidly over the coming years as blockchain technology sees increasing real-world adoption. Key drivers of the smart contract market include the need for automation of manual processes, cost reduction, improved transactional security, and transparency.
By democratizing access to security audits, market intelligence company Messari expects that AI-native security networks will expand the total addressable market (TAM) by a factor of 5-10x [2]. Table below is comparing centralized auditors vs decentralized security networks across crypto market cycles.
The demand for a comprehensive solution is undeniable. That's where we come in. Our platform offers a holistic approach, addressing these market needs with a single, scalable, and blockchain-agnostic solution. We deliver in-depth security analysis, real-time compliance monitoring, and future-oriented threat intelligence. As the smart contract landscape continues to evolve, our AI-driven approach positions us as a leader in securing and streamlining smart contracts across the entire blockchain ecosystem.
ARK Investment Management LLC. (2024). Big ideas 2024: Annual research report. ARK Invest; Available online: https://www.ark-invest.com/big-ideas-2024
Messari. Smart Contract Market Analysis. Messari, 2023; Available online: https://messari.io/report-pdf/f125632168e9a04e016fe43bc551f412389eda4f.pdf
The smart contract security landscape is a crowded space, with solutions ranging from manual code audits to automated vulnerability scanners. But here's what sets our AI-powered platform apart:
Beyond Vulnerability Detection: While some competitors focus solely on identifying existing vulnerabilities, our platform goes the extra mile. We offer a comprehensive suite of features, including predictive threat intelligence, real-time compliance monitoring, and automated auditing.
Proactive Protection: Our AI muscle gives us a distinct edge. We don't just react to threats, we anticipate them. By harnessing the power of AI, we can predict and prevent future attacks, a capability largely missing from current solutions.
Constantly Evolving Defenses: Traditional security solutions often become outdated as new threats emerge. Our platform is different. The AI models that power our platform continuously learn from new data, ensuring our security measures remain agile and adapt to the latest trends and threats in the ever-changing blockchain ecosystem.
Usability for Everyone: Complex security and compliance data can be intimidating. Our user-friendly interface and actionable insights make this information accessible to everyone, even non-experts. This broader accessibility fosters wider adoption and empowers a larger user base to leverage the power of our platform.
While competitors offer various solutions, none can match the comprehensive and proactive approach delivered by our AI-powered platform. This competitive edge allows us to serve a broader spectrum of clients and navigate the rapidly changing landscape of blockchain technology and regulations with agility and confidence.
Our roadmap isn't just a plan, it's a commitment to continuous improvement. It outlines the strategic development and deployment phases of our AI-powered platform for Web3 security and compliance. This roadmap reflects our dedication to staying ahead of the curve and addressing the evolving needs of the blockchain ecosystem.
Our journey in 2023 was foundational, focusing on laying the groundwork for our AI-driven platform through extensive research, data collection, and initial testing phases. Here's a recap of our key milestones throughout the year:
Q1 2023: Preliminary Research and Conceptualization
Market and Technical Research: Conducted comprehensive market analysis to understand the current landscape of smart contract vulnerabilities and existing security solutions. Parallelly, we embarked on technical research to explore the feasibility of applying AI in detecting and mitigating these vulnerabilities.
Concept Development: Defined the core concept of our AI-driven platform, focusing on how it could uniquely address the challenges identified in our research.
Q2 2023: Data Collection and Framework Design
Data Collection: Began collecting a vast array of data critical for training our AI models, including historical smart contract vulnerabilities, blockchain transaction records, and regulatory compliance guidelines. This data was sourced from public repositories, partner networks, and blockchain platforms.
AI Framework Design: Developed the initial design for our AI framework, determining the key AI methodologies to be used (deep learning, machine learning, NLP) and outlining the architecture for integrating these technologies into our smart contract security platform.
Q3 2023: Prototype Development and Internal Testing
Alpha Prototype Development: Translated our AI framework design into an initial prototype, capable of basic vulnerability detection and compliance checking for a limited set of smart contracts.
Internal Testing: Conducted rigorous internal testing of the prototype to evaluate its effectiveness in identifying known vulnerabilities and to refine the AI algorithms based on initial findings.
Q4 2023: Feedback Integration and Pilot Testing
Feedback Collection: After internal testing, we collected feedback from a select group of blockchain developers and security experts who interacted with our prototype, focusing on its usability, accuracy, and overall effectiveness.
Pilot Testing: Launched a pilot test with a small number of partners, applying our platform to real-world smart contracts. This phase was crucial for understanding the platform's performance in live environments and for gathering actionable insights to inform further development.
Here's a sneak peek into what's on the horizon:
Q1-Q2 2024: Building the Foundation
Platform Blueprint: We delve deep into the "what" and "how" of using AI for smart contract security and beyond. This involves brainstorming innovative applications and conducting feasibility studies to ensure our vision is achievable.
Tech Stack Selection: Not all tools are created equal. We have and will meticulously choose the most powerful AI, machine learning, and blockchain technologies to form the backbone of our platform.
Community Building and Awareness: Engage with potential users and investors through social media, forums, and blockchain events to build a strong community and raise awareness about the project.
Fair Launch: Implement a fair launch strategy that includes a public sale with a capped purchase limit per participant to prevent whale domination, ensuring a wide and equitable token distribution.
Liquidity Provision: Immediately after the TGE, allocate a portion of the raised funds to provide liquidity on decentralized exchanges (DEXs).
Q3-Q4 2024: Refining the Experience
Beta Launch – Behind the Scenes: We'll unveil a closed beta version to a select group of trusted partners on our waitlist. Their feedback on core functionalities will be invaluable in shaping the platform's future.
Community Rewards and Airdrops: Implement rewards programs and airdrops for early supporters and active community members to incentivize participation and loyalty.
Centralized Exchange (CEX) Listings: Pursue listings on prominent centralized exchanges to enhance token liquidity and accessibility to a broader audience.
Incorporating Insights: We'll take the feedback from the beta testers to heart. This includes refining our AI algorithms and user interface to ensure a smooth and intuitive experience.
Beta Launch – Opening the Doors: We'll open the doors to a wider audience with an open beta version. This broader testing phase will allow us to identify and rectify any lingering issues before the official launch.
Q1-Q2 2025: Going Live and Growing (Full-Scale Launch and Expansion)
Platform Launch – Ready for Business: This is it! We'll officially release the platform with all its functionalities, empowering users to secure and streamline their smart contracts.
Expanding Our Reach: We won't limit ourselves to one blockchain. We'll integrate the platform with major blockchain networks, ensuring compatibility and accessibility across the ecosystem.
Building open and transparent data interoperability layer: We believe in collaboration. We'll foster a vibrant community of developers, security experts, and blockchain enthusiasts to share ideas and contribute to the platform's omnichain data network.
Q3-Q4 2025 and Beyond: Staying Ahead of the Curve (Continuous Improvement and New Features)
AI on Autopilot: Our AI engine is never idle and we want to make it fully autonomous. We'll continuously train and improve it with new data and attack vectors, ensuring it remains at the forefront of security threats but it will work on its own.
Regulatory Harmony: The regulatory landscape is constantly shifting. We'll keep our compliance monitoring features up-to-date with the latest regulations, ensuring your smart contracts stay compliant.
Global Expansion and Partnerships: The world is our playing field. We'll expand our presence worldwide and forge strategic partnerships with leading blockchain platforms and enterprises.
Our vision is to launch a revolutionary cross-chain security protocol, designed to unify blockchain security measures into a coordinated ecosystem, providing an open and transparent audit and protection layer for the DeFi 2.0 era. We're building a novel security architecture that bridges automated auditing and AI-driven scam detection across multiple chains, supporting high-throughput analysis, low-latency threat response, and eventual consensus on security states.
Our protocol will leverage cutting-edge AI to debug smart contracts in real-time, offering unparalleled protection for investors, users, and projects alike. By implementing a dual-verification mechanism, we'll achieve higher cybersecurity standards while maintaining the decentralized ethos of blockchain technology.
We'll continue expanding our security toolkit based on this omnichain data network, allowing developers to build robust, scam-resistant dApps and enabling users to interact with DeFi protocols with newfound confidence. Our goal is to create an interoperable security layer that becomes the gold standard for blockchain projects, fostering trust and accelerating mainstream crypto adoption.
Our business model is built on a win-win philosophy. We offer a range of services designed to deliver value to our customers while ensuring the sustainable growth of our platform. Whether you're a solo developer or a global enterprise, we have a solution to fit your needs.
Subscription Plans Tailored to Your Needs:
Basic Plan: This starter plan is ideal for individual developers, users and small projects. It provides access to standard security audits and compliance checks, giving you a solid foundation for smart contract security.
Premium Plan: For enterprises and larger projects that require more advanced security measures, we offer a premium plan. This plan includes features like predictive threat intelligence, real-time monitoring, and priority support, giving you complete peace of mind.
Pay-Per-Audit Option for Flexibility:
Not everyone needs a full subscription. If you only require occasional audits, we offer a pay-per-audit pricing option. This allows you to get comprehensive security and compliance analysis without the commitment of a subscription.
Custom Enterprise Solutions for a Perfect Fit:
For our enterprise clients, we offer custom solutions. These solutions integrate our platform's capabilities seamlessly with your existing systems, providing bespoke security and compliance features tailored to your specific needs.
The foundation of our success rests on the expertise and dedication of our team and advisors. We've assembled a dream team of individuals who are passionate about blockchain technology, AI, and security, and who possess a deep understanding of the challenges and opportunities within the smart contract landscape.
Firstly, we're a passionate group of dreamers and doers, united by a relentless pursuit of a more secure and efficient blockchain future. Secondly, we believe AI is the key to unlocking the full potential of Web3 security, and we're here to change the world, one secure line of code at a time.
The Brains Behind the Operation
Director of Cyber Resilience: A seasoned entrepreneur and whitehat hacker with a proven track record in the blockchain and cybersecurity sectors. Her leadership and vision guide the overall direction of the company.
Chief Blockchain Architect: With a mind like a cryptographic hash function, he has spent years dissecting the intricate workings of blockchain architecture. His expertise ensures our platform seamlessly integrates with various blockchain ecosystems, making security accessible to all.
Head of Research & AI: A true AI whisperer, he possesses an uncanny ability to unlock the potential of artificial intelligence. He leads our research team, constantly pushing the boundaries of AI to develop the most advanced security protocols for Web3.
Security Architect: Nicknamed "The Vigilante" within the cybersecurity community, she is a force to be reckoned with. A self-proclaimed "digital guardian angel," she's spent her career on the front lines, outsmarting hackers and plugging security holes in some of the most critical systems in the world. Her experience in identifying and thwarting cyberattacks is unparalleled, and her insights are crutial in building a platform that anticipates and neutralizes even the most cunning threats.
The A-Team: Guiding Stars of the Blockchain
Forget constellations – our development team is a supernova of brilliance! We've assembled the brightest minds in blockchain technology, cybersecurity, regulatory law, and business development. Each member brings a unique perspective and a wealth of experience to the table, united by a common goal: to revolutionize the way Web3 is secured.
Blockchain Architects: These code wizards understand the intricate workings of various blockchain ecosystems, ensuring our platform integrates seamlessly and unlocks security for everyone.
Cybersecurity Stalwarts: Our digital defenders are like fortress architects, constantly on guard against potential threats. They are code4rena judges and leverage their expertise to build robust security protocols that keep your smart contracts safe.
Regulatory Navigators: The legal landscape surrounding blockchain is ever-evolving. Our legal eagles stay ahead of the curve, ensuring our platform adheres to the latest regulations and allowing you to operate with confidence.
Business Development Gurus: These master strategists translate our vision into reality. They forge key partnerships within the blockchain ecosystem and ensure our platform reaches a global audience.
Advisory Board: Guiding Lights for the Future
Our advisory board isn't just a collection of advisors – they're the guiding lights that illuminate our path forward. Each member is a prominent figure in their respective field, bringing a wealth of experience and knowledge to the table:
Blockchain Visionaries: These thought leaders have witnessed the evolution of blockchain technology firsthand. Their insights shape our strategic direction and ensure our platform remains at the forefront of innovation.
Cybersecurity Experts: Our advisors possess an unmatched understanding of the evolving threat landscape. They help us anticipate and neutralize even the most sophisticated cyberattacks, constantly reinforcing our platform's security posture.
Regulatory Powerhouses: Navigating the complex world of blockchain regulations is no small feat. These legal luminaries provide invaluable guidance, ensuring compliance and fostering trust within the ecosystem.
Business Development Titans: Our advisors boast extensive networks and a deep understanding of the global market. They connect us with key players in the industry and help us expand our reach, ensuring our platform has a lasting impact.
A Force Multiplier for Success
By combining the exceptional skills and dedication of our core team with the strategic insights of our advisory board, we are uniquely positioned to address the complex challenges of Web3 security. Together, we are a force multiplier for success, propelling the blockchain ecosystem towards a more secure and compliant future. We are confident that our team's unwavering dedication and the power of AI will revolutionize the way smart contracts are secured and monitored.
| Certik in 20-22 | AI Audits in 24-26 | |
|---|---|---|
Peak-to-trough crypto market cap
$200B →$2T
$1T →???
% projects getting security audits
10%
50-75%
% leader market share
60%
60-75%
Projects audited
10k+
100k+
Capital raised
$230m
fair launch
Valuation
$2B
$10B+