In the rapidly evolving blockchain landscape, securing smart contracts is crucial as they underpin decentralized finance and various applications. Hartej Sawhney, CEO of Zokyo, emphasizes the necessity of security auditing given the 21% spike in security breaches in 2024, with $2.2 billion stolen in hacks. Zokyo is at the forefront, specializing in securing complex Web3 protocols, acknowledging that traditional security measures often fail to cover the innovative risks posed by these new systems. Bug bounty programs are gaining traction due to their high payouts for identifying vulnerabilities, showcasing the increasing urgency for better security in the sector.
Smart contract security auditing is critical in the blockchain landscape, where failures can result in significant financial losses, highlighting the need for robust security measures.
Hartej Sawhney emphasizes that traditional security methods struggle to keep pace with the rapid evolution of blockchain technology, making thorough auditing vital.
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