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Smart Contract Auditing Recap 2023 - Shieldify

Published on
January 26, 2024
Shieldify 2023 smart contract auditing recap

Smart Contract Auditing - Partnering for Sustainable Growth

In 2023, Shieldify took its inaugural steps in pioneering Web3 Security. We established the first Bulgarian-based company specialising in Solidity based Smart Contract Auditing. This bold move signaled our commitment to redefine industry standards, bridging the gap between tradition and innovation. Within just six months we became multilinugal, adding Rust, Cairo (Starknet), and Go to our portfolio. These additions allow us stay ahead of the curve and helped us secure more than 45,000 lines of code spanning over 16 projects. Enabling collaborative efforts with our clients to whom we became tech partners. Read along for more information and shared achievements.

Growing together - Subscription based Smart Contract Auditing

By introducing our unique for the market subscription-based auditing service, we establish a sturdy groundwork, providing a platform for in-depth exploration of your entire code base. Acquainting ourselves with your coding methodologies and infrastructure components enables us to conduct a more comprehensive analysis, swiftly identifying potential threats and streamlining the security audit process for heightened efficiency and robustness.

By having access to this vital context, we gain a profound insight into potential vulnerabilities, threats, or areas that may require reinforcement within the client's protocol. This thorough understanding empowers us to not only identify these aspects but also provide invaluable insights or recommendations to fortify the client's protocol security during each audit. Therefore, with each future feature release, the client benefits from our accumulated knowledge and insights, as we continuously bolster their protocol security.

Expanding Horizons: Learning Go, Rust, Cairo, and Innovating our Auditing Services

Multilingual in Solidity, Rust, Go, and Cairo

In response to the evolvement of the industry, and to cater better to our client’s needs, we learned to speak Rust, Go and Cairo (Starknet). Those strategic additions, reflect our commitment to moving along with the industry and meeting the evolving needs of our clients and industry. Furthermore, it pushes us one step closer to fulfilling our mission of Securing the Web3 world. The inclusion of those languages enhances our ability to deliver top-notch solutions, leveraging their strength and versatility.

Venturing into Consultancy Services

Expanding our repertoire, Shieldify ventured into consultancy services, leveraging our expertise to guide organisations through the intricate maze of Web3 Security. Sharing knowledge and empowering others became a central theme in our journey.

Hosting our first SPP (Shieldify Private Pool)

Introducing Shieldify Private Pool (SPP), our premier service designed for advanced, cost-effective protocol protection. Ideal for bug bounty competitions, SPP enhances security with unique features:

  1. Exclusive Reward System: SPP rewards the first valid vulnerability submission, fostering a competitive audit environment.
  2. Expert Auditor Panel: Comprising 10-15 independent auditors, SPP ensures thorough protocol examination.
  3. Pay Per Vulnerability Model: With our PPV approach, protocols pay only for recognized vulnerabilities, offering financial efficiency.
  4. Enhanced Security Assurance: SPP acts as an extra layer of security, with expert

At Shieldify, we blend expertise and value, making SPP a symbol of our dedication to superior security solutions tailored to our clients' evolving needs.

Partnerships that Propel: Collaborative Success Stories

The cornerstone of Shieldify's success in 2023 lay in the alliances forged. Collaborating with 16 visionary clients, we fortified over 45,000 lines of code. These weren’t just contractual agreements; they were joint efforts to fortify the foundations of decentralised applications. Our detailed portfolio is available on GitHub.

Embracing the Future: Charting Paths Forward

As we gaze toward the future, Shieldify remains poised to embrace new challenges, foster stronger alliances, and continue fortifying the Web3 landscape. Our journey through 2023 paves the way for a future where innovation meets security, and partnerships forge a resilient digital world.

Looking towards 2024:

Last year, 2023, marked the foundational phase for Shieldify. As we step into 2024, we are thrilled to advance with robust growth plans. In the realm of Web3, building credibility and maintaining consistent branding are crucial for enhanced visibility. Additionally, we are focused on expanding our network further.
Our strategy centers on positioning ourselves as a pioneering hybrid security firm in our industry, seamlessly integrating solo auditing services with the prowess of top-tier security companies. As the Rust-based ecosystems continue to evolve, we are committed to broadening our portfolio in this area, aligning with our goal of staying at the forefront of technological advancements and security solutions.
In line with this vision, Shieldify aims to establish a global presence through participation in events and conferences, starting with Token2049 Dubai and ETHDubaiConf. Reach out to us on X (previously Twitter) or email us at security@shieldify.org and let us know if you are attending so that we can meet in person!