Singapore, March 27, 2023 - Horangi, a Singapore-headquartered cybersecurity company providing solutions for cloud-based organizations globally, announced that it had completed a Smart Contract Audit for Hashport, Hedera’s interoperability solution providing secure, reliable interoperability between Hedera and 6 supported networks – Ethereum, Polygon, Avalanche, BNB Chain, Arbitrum, and Optimism. Hashport is built on Hedera and utilizes the Hedera Consensus and Smart Contract Service to verify transactions.
Smart contracts are agreements that use code to enforce transactions. A well-written contract would increase assurance that financial assets are not lost to malicious parties through attacks such as integer overflow and underflow, reentrancy attacks, race condition, front-running attacks, and more.
However, like any software, smart contracts are prone to vulnerabilities and programming errors that can pose significant business risks if they are not adequately secured. Smart contracts are also published on their respective blockchains, which make them publicly visible to their user base, greatly increasing their exposure and risk as compared to other types of code. Therefore, smart contract audits are essential for ensuring the security, reliability, and correctness of smart contracts minimizing the possibilities for attacker exploits..
A smart contract audit thoroughly reviews the code that makes up a smart contract, identifies any vulnerabilities in the code, and provides recommendations to mitigate the identified risks.
Horangi’s audit follows a rigorous methodology and delivers a detailed analysis of the smart contracts, an assessment of the risks, and a comprehensive report with recommendations for improvements — all of which provides Hashport with a comprehensive overview of their smart contract's security posture.
"Smart contracts are an essential component of the blockchain ecosystem, and ensuring their security is critical to building trust and confidence in the technology," said Paul Hadjy, Co-founder and CEO of Horangi. "Our smart contract audit services are designed to help businesses identify and mitigate potential risks to operate confidently and securely."
“The partnership between Horangi and Hashport is an excellent example of how collaboration between industry leaders can drive innovation and advance the development of the blockchain ecosystem,” added Paul. “As a trusted provider of cybersecurity services, Horangi is committed to working with companies like Hashport to improve the security and integrity of the blockchain industry.”
"We have been very pleased with the results of the Smart Contract Audit conducted by Horangi," said Jesse Whiteside, Head of Business Development. "Their expertise and professionalism have been invaluable, and we are confident that their recommendations will help us further enhance the security of our smart contracts."
Horangi is a leading cybersecurity company founded by ex-Palantir Technologies engineers and is headquartered in Singapore. Horangi’s best-in-class Warden cloud security platform protects organizations in the public cloud, complemented by an elite team of cybersecurity experts providing CREST-accredited offensive and strategic cybersecurity services to customers worldwide. For more information, visit https://www.horangi.com/.
hashport is the enterprise-grade public utility that facilitates the movement of digital assets between distributed networks, extending their functionality in a quick, secure, and cost-effective way. In order to remain platform-neutral, hashport functions without the use of a proprietary token. The network is built on a robust and performant architecture, secured and operated by a group of industry-leading validator partners from around the world. hashport has passed rigorous security audits and follows industry best practices; regularly performing comprehensive network tests to ensure the integrity of the network.
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