CandleFocus Venn Network Aims to Solve DeFi's Hacking Problem With More Decentralized Tech
2024-10-30
Author: Content Editor
Israeli cybersecurity firm Ironblocks is launching a new decentralized tech called Venn, which aims to address the hacking problem in decentralized finance (DeFi). Venn is a transaction pre-screening network that connects security operators with crypto apps to provide additional security checks on transaction flows. Participating DeFi apps can reward auditors and cybersecurity firms who vet pending transactions. Venn acts as a firewall, flagging and freezing suspicious actions before forwarding regular activity onto the blockchain for confirmation. Several DeFi apps and security firms are joining Venn's public testnet as node operators.
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