SafeBlocks Co-founder and CEO, Ron Greenbaum, is attempting to protect initial coin offerings (ICOs), DEXs and any other financial DApps from the hackers. For this purpose, the company is launching the first Firewall to protect these new age instruments from either unauthorized transaction traffic or value attacks.
In a post on Medium, Greenbaum pointed out the common security flaws source, which is bad coding, as well as, technological vulnerabilities. In the absence of enough protection, these errors leave the enterprises to suffer losses. He thinks that the key responsibility of any CTOs or CISs or CSOs is to cut down the risk factors from security. The CEO thinks in several instances; additional security solutions are executed as protection layer along with security auditing.
SafeBlocks co-founder indicated that security concerns were not taken up seriously when applications were introduced the first time. However, the situation has changed today. He said, “It is common knowledge that there are serious consequences related to the exploiting web applications. Security code review is a very common step in the web application deployment process, but security code review cannot guarantee complete security, and is not enough to protect against threats from potential loss.”
While pointing out the similarity between the web applications’ initial phase and DApps, the CEO thinks that web auditing is necessary and important. For its part, SafeBlocks Firewall validates every transaction on a real-time basis with a predefined security policy. This can be done via the company’s intuitive management console since the execution of the firewall is not a difficult one.
The execution involves four steps, adding a template of secured validation, uploading smart contract to the console management, establish security policy and deploy the smart contract. All transaction traffic will have to be validated after SafeBlocks firewall is activated. This will enable the firewall not only to review the request for validation but also returns either denial or approval depending upon the security policies created by the user.