By
Kseniia Klichova
June 28th, 2022
SolidProof admits that financial institutions are more vulnerable to several financial crimes. Hence, the firm’s KYC product gives crypto projects the transparency they need.
SolidProof, a German-based platform, hopes to build security and transparency in the crypto space. The company is working on achieving its goals by supporting projects with auditing reports and Know Your Customer services. That way, the crypto community can invest in secure digital currency projects.
SolidProof’s growth continues to reflect across various platforms. It includes major ILO projects such as CoinxPad, BNB Cash, and vEmpire.
SolidProof’s Seamless Service Provision Interests Other Platforms
SolidProof’s innovative technology has brought about a definitive automated audit tool that has caught the interest of many platforms. Besides being efficient, the audit tool is particularly easy to use. For that matter, it is not a big surprise why several financial platforms have their eyes fixed on the top-notch services that SolidProof has to offer in the near future.
One of the platforms that have boarded the SolidProof train is the Unicrypt network. Unicrypt aims at improving an investor’s confidence in crypto projects. As SolidProof’s partner, Unicrypt allows crypto projects to lock their liquidity on Uniswap.
In the end, the mechanism gives investors, along with their holdings, a sense of security. Unicrypt extends its liquidity locking services on a simple interface. Thus, it gets rid of technical processes closely related to the locking activities.
SolidProof is in collaboration with Unicrypt to leverage its transparent solutions. Unicrypt acts as a third-party provider for SolidProof. Notably, the protocol reviews different factors on a crypto project. Unicrypt’s launchpad further allows investors to distinguish between good and bad projects.
The Services in Store
Security remains an important issue driving the crypto sphere today. As such, SolidProof seeks to maintain the same trend by auditing a project’s smart contracts. What’s more, it hopes to introduce the SolidProof Automated Audit Tool (SAAT) soon.
The automation feature ensures a quick auditing procedure for digital asset projects. SolidProof recently provided the beta version of SAAT for users to give their views and simultaneously experience elite auditing services.
The firm begins by asking users to send the crypto platform’s code. SolidProof then conducts manual and automatic tests on the project’s software. The auditing team partners with the platform’s development team to clear any errors on the next step. Finally, the company issues the crypto project with a certificate and marketing materials.
In the report, SolidProof categorizes the vulnerabilities into critical, medium, and low. Besides, it further includes remedies for each error found within the code. The firm then concludes by giving projects a verification badge on their reports.
A badge shows the platform’s success in completing the auditing process. As a bonus, the company charges minimal charges on the auditing processes.
A KYC Solution
SolidProof admits that financial institutions are more vulnerable to several financial crimes. Hence, the firm’s KYC product gives crypto projects the transparency they need. Know Your Customer processes on SolidProof work on confirming every customer’s identities.
It also monitors the users’ financial activity on a project’s transaction network. Furthermore, the KYC solution keeps an eye on the users’ financial sources.
Such measures help fight against crimes like money laundering, corruption, and terrorist funding. The charges for running a KYC process go in line with the project’s team size.
