Bitrock, the Layer 2 EVM-compatible blockchain, has recently announced the successful completion of its security audit by blockchain security auditing firm, CTDSEC. After several weeks of rigorous analysis, testing, and numerous security enhancements to the Bitrock chain, the audit shows that “all the tests executed to the main branch were 100% successful and 0 vulnerabilities were found.”
We are excited to finally announce that our #blockchain audit by CTDsec is now completed! After weeks of analysis, testing, and multiple security updates and improvements on the #Bitrock chain, we are happy to report that our chain has passed ALL tests with a PERFECT score!… pic.twitter.com/OdFV6ezQtF— Bitrock (@BitRockChain) August 31, 2023
The announcement, made via Bitrock’s official Twitter account, marks a pivotal moment for the blockchain platform. The audit, which began in July 2023, focused on analyzing Bitrock’s blockchain and smart contract. The objective was clear: identify and rectify any potential security vulnerabilities in the design and implementation of these components.
What makes the #Bitrock Blockchain unique/better than other #L2 blockchains:— Bitrock (@BitRockChain) August 31, 2023
✅️ Not a fork (built from scratch)
✅️ Total supply = Circulating supply. Nothing locked/vested, no further dilution
✅️ Core team #KYC with @AssureDefi. They work with the FBI. US Attorney's… pic.twitter.com/gkc69VjraW
Bitrock, a relatively new entrant into the Ethereum L2 space, was not created as a fork of an existing blockchain. Bitrock is an Ethereum IBFT 2.0 Proof of Authority (PoA) side chain rather than a Proof of work (POW) or a Proof of Stake (POS), making it faster, cheaper, and more scalable than most competitors.
Key features of Bitrock include an impressive 2-second block time, the capacity to process up to 12,000 transactions per second (TPS), and near-zero native gas fees (~$0.00001). Notably, Bitrock’s total supply is equal to the circulating supply, with no locked or vested tokens, ensuring no further dilution.
Unlike many other side chain solutions, Bitrock opted for a stealth launch in July 2023, with no pre-sale, private sale, seed rounds, or venture capital backing. This strategic move positions Bitrock with a potentially higher ROI due to its fair initial market capitalization.
Furthermore, Bitrock’s core team has undergone Know Your Customer (KYC) verification with AssureDefi, a company known for its collaboration with law enforcement agencies such as the FBI and the US Attorney’s Office.
The Bitrock ecosystem continues to evolve, with the official DEX, Rockswap, gearing up for multichain integration. This will enable cryptocurrency trading across native chains without using swaps native to those chains or paying gas fees in those chains’ native tokens.
Recently, Bitrock announced the live staking on its mainnet, offering 60% APY, while ETH side offers 30% APY. Presently, over 40% of the entire supply is staked. Bitrock has also completed multiple integrations with Dextools, Dexview, Bitmart, Pinksale, Geckoterminal, Avedex, Trustwallet, Sphynx Labs, with Dexscreener and various wallet integrations on the way.