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  • Writer's pictureTammy Kahn, CEO

BTblock Commences Cybersecurity Code Assessment for

UPDATE DECEMBER 12, 2021: Based on Phase 1 of our security assessment, we feel comfortable with ADAX deploying the demo on testnet. In January, we will do Phase 2 prior to PAB release and full report will be finalized. Thank you for your patience as we continue this important work!

Original October 13, 2021 post:

Today, we are proud to announce BTblock is officially starting our partnership with another breakthrough blockchain technology company, The community has been very excited about a cybersecurity assessment and has sent us many emails, tweets, and linkedin messages. It's great to see such a vibrant community! It is important to understand that at BTblock in dealing with anything pertaining to cybersecurity, we err on the side of “less is more.” Yet, as the community has shown such an interest in this project, and as we are also excited to be starting this journey with, I am offering this post.

First, a little history. BTblock started in 2018 with the goal of working on cutting edge technologies. Many people wonder what the BT in BTblock stands for, and it means “Breakthrough.” Since 2018 we have been fortunate to have been able to work on some incredible “breakthrough” projects in blockchain. We have been flying under the radar, which is due to our mindset of “keep quiet and get on with the work,” but in stealth we have been involved in a number of high profile projects and, as a result, have seen some very interesting things.

To be really good at code security assessments in this web 3.0 context, one has to have the DNA to want to break things apart and find out all the ways they can potentially fail. One has to have the mindset of “hacking,” but with a strong moral code. At BTblock, we hack for the love of the puzzle, not for monetary gain. Mikeal Björn, Partner of BTblock and Head of Cybersecurity Research for the firm calls our team “ethical hackers.” Mikael has spent countless hours trying to cultivate the right team with that DNA, with the right mindset. It is through Mikael’s quiet diligence that we have assembled the best DeFi logic experts in the world.

If you ask our reviewers why they work for BTblock, most will say “because you give me interesting projects.” We know we could fill our days with code review after code review, as we find ourselves lucky enough to be in a position of demand outweighing supply. This permits us to pick our projects. We have a code review coordination team dedicated to engaging with the most interesting projects and bringing them to our team.

We chose ADAX because in our view the ADAX project falls in the category of "breakthrough" and as such will offer an excellent engagement for our team. While this is the first phase of our work with ADAX, we are excited to continue to grow our work with ADAX beyond this initial project. Our goal is always to have long-term relationships with projects, and with their ecosystems, because it is in that way that our experts become absolute “Jedis” and start to connect dots across ecosystems that cannot be done when the transactional approach to Code Reviewing of “hire us to throw a rock through your window and write a report about how easy it was to do it.”

We prefer to engage holistically with both the review team and the engineering team working together to build the safest project possible. I say “possible” because there is no perfect cybersecurity code assessment. If anyone tells you that, they are not being truthful. Code reviews are always best efforts, which is why assembling the right team with the right experience for the project is key, and why a long term relationship where we learn together is critical.

It is also important to note that not everything will be made public. Remember, cybersecurity is a quiet business. The goal will be to provide the community with reassurance at an executive summary level, but our hope is that people will understand why not everything can be perfectly transparent. The goal is to do our best to help navigate their growth trajectory in the most secure way possible, and we are excited to start this journey together.

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