Introducing Ethereum Trust Alliance (ETA) – An initiative to help users understand risks of smart contracts

By February 6, 2020 Ethereum
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  • ETA consists of members of Ethereum’s top auditors, who are highly skilled in their craft.
  • ETA’s proposed security ratings are expected to bridge the knowledge gap for investors who are associated with smart contracts.

The Ethereum Trust Alliance (ETA), is an initiative which aims to record smart contract audit data publicly. The ETA consists of Ethereum’s top auditors who are highly skilled in their craft. Representatives from Consensys, QuantStamp, MythX, and Runtime Verification are amongst the founding members. ETA’s goal is to help individual users gain a better understanding of the risks that smart contracts pose.

For individuals without a coding background, smart contacts are hard to comprehend fully. This was especially evident after the infamous DAO hack, where the developers were unaware and/or lazy in adequately securing the underlying smart contract. The same risk is still present with regards to DeFi and other Ethereum’s smart contracts. ETA’s proposed security ratings are expected to bridge the knowledge gap for users who are associated with smart contracts.

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