Cybersecurity Provider Kudelski Partners with Hosho to Audit Smart Contracts for Blockchain Security

By March 20, 2019Ethereum
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Two very important companies have started a strategic partnership recently. Kudelski Security, a provider of cybersecurity solutions, has teamed up with Hosho, a prominent smart contract auditing firm. The goal of this partnership is to create new blockchain security solutions for other companies.

Kudelski is a Swiss-based tech security provider with operations all across Europe and the United States. The company reported the partnership via a press release. It has also recently launched a Blockchain Security Center (BSC) this year, as another part of its expansion.

According to the press release, Kudelski started the partnership in order to extend what the BSC is able to do now, as the company is an expert in cryptography and Hosho could help it a lot.

This partnership will see the two companies coming up with new solutions that could combine the strongest points of both companies in order to create robust solutions for both the private and the public sector.

Hosho’s research shows that at least $2 billion USD have been stolen from blockchain-based companies last year. That’s a lot of money and the main reason why hackers were able to get away with the money is because there were critical vulnerabilities in the systems and nobody discovered them before the hackers.

The smart contract auditor also affirmed that at least one in every four smart contracts has a vulnerability that will be exploited in the next five years unless it is found out first and fixed.

If you doubt the data of the press release, you can just remember how Ethereum, the second largest token of the whole world, had to postpone its launch because they found issues on their software at the last moment.

With the combined resources that will come from this partnership, both companies believe that they will be able to provide a better service for their clients and diminish their risks.

The co-founder of Hosho, Hartej Sawhney, has affirmed that the partnership will mark a first since this is the first time that a blockchain cybersecurity leader will be partnering with a publicly traded cybersecurity firm and that this will help both companies, as they have a lot to share.

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