CertiK Audit Strengthens MicrovisionChain's Security and Credibility

CertiK, a leading blockchain security auditor, has successfully completed an audit of MicrovisionChain (MVC), marking a significant milestone as the first UTXO model-based solution to pass an industry audit. This thorough assessment included a comprehensive examination of MVC's smart contracts, focusing on security, code quality, logic, interactions, and compliance. CertiK's audit report provides valuable insights and recommendations to further enhance the security and transparency of the MVC project.

CertiK's Meticulous Audit Bolsters MicrovisionChain's Security and Credibility

Hong Kong, April 29, 2024 - In a groundbreaking milestone for blockchain security, CertiK, a leading audit firm specializing in blockchain projects, has successfully audited MicrovisionChain (MVC), becoming the first UTXO model-based solution to pass such an audit within the industry.

MVC, also known by its token symbol SPACE, mirrors Bitcoin's architecture and Proof of Work (PoW) consensus mechanism while expanding its capabilities with Turing-complete smart contracts and decentralized applications enabled by its UTXO model. This meticulous audit by CertiK solidifies MicrovisionChain's dedication to maintaining the highest standards of contract security and reliability, reinforcing its commitment to revolutionizing the Bitcoin ecosystem.

MVC's Comprehensive Security Assessment

CertiK conducted an exhaustive security assessment on the MVC project, meticulously scrutinizing key components such as token-core, NFT-core, and mvcdao-core smart contracts. The audit team employed a combination of manual review and static analysis techniques, ensuring thorough examination of:

• Smart contract testing against various attack vectors
• Codebase compliance with industry best practices and standards
• Contract logic alignment with client specifications
• Cross-referencing contract structures with established industry leaders
• Line-by-line manual review by industry experts

Specific areas of focus within the audit included identifying centralization risks, logical inconsistencies, denial of service vulnerabilities, design flaws, and validating checksum calculations for codebase files. The audit also provided valuable recommendations to enhance security and transparency, such as implementing timelocks, multi-signature wallets, and DAO governance structures.

Comprehensive Audit Methodology

CertiK's audit approach encompassed both static and dynamic analysis, complemented by a line-by-line code inspection performed by industry experts. The process involved automated vulnerability scanning, rigorous testing against diverse attack vectors, adherence to industry best practices, and verification of contract logic against client requirements.

The audit further compared contract structures to those of industry leaders and offered detailed recommendations to resolve identified issues. Special attention was given to centralization risks, and the audit report meticulously examined the codebase, providing specific file checksums and identified commits, along with a clear disclaimer outlining the report's purpose and limitations.

Securing MVC's Blockchain Endeavor with CertiK Audit

MicrovisionChain's decision to engage CertiK for an audit stems from its commitment to bolstering the security and integrity of its blockchain project. By leveraging CertiK's expertise, MVC ensures that its smart contracts are resilient against vulnerabilities, building trust and credibility among investors and users.

This collaboration serves multiple purposes, including risk mitigation, compliance adherence, securing necessary insurance coverage, and differentiating MVC in a competitive market. Moreover, it demonstrates a dedication to continuous improvement, community engagement, and adherence to best practices within the blockchain industry.

MVC's Vision: Unveiling the Proof of Build Program

MicrovisionChain is poised to launch its Proof of Build program, an initiative designed to attract developers within the Bitcoin ecosystem and foster collaboration to expand and enhance the platform. This program aims to cultivate a developer community dedicated to building and refining the capabilities of the Bitcoin sidechain.

MVC has recently introduced an asset bridge compatible with Bitcoin, accessible through https://app.orders.exchange/bridge. This bridge alleviates transaction congestion within the Bitcoin ecosystem, supporting BRC20 tokens, Runes, and other assets. Jason Kwok, co-founder and COO of MicrovisionChain, shed light on their strategic roadmap:

"We are charting a strategic course to partner with reputable custodial institutions and execute targeted campaigns to achieve substantial Total Value Locked (TVL) targets. These initiatives are essential as we aim to broaden our reach and cement our platform's position within the digital asset ecosystem."

MVC's Rapid Growth and Industry Recognition

Notably, SPACE's address base has surged exponentially, from 30,000 to an impressive 400,000 in a mere two months. This surge signifies escalating market interest and positions MVC as one of the most closely watched projects within the Bitcoin ecosystem, underscoring its potential to lead innovation and security advancements.

Contact Details:

Name: Jason Kwok
Email: Send Email
Organization: MicrovisionChain
Website: https://www.microvisionchain.com/

Additional Information and Support:

If you encounter any discrepancies or concerns regarding the content of this press release, please contact error@releasecontact.com immediately. Our dedicated team is available 24/7 to address your concerns within 8 hours and take appropriate actions, including rectifying identified issues or facilitating press release removals.