IOTA partners with Zokyo to make Web3-billion-dollar-market more secure and transparent

  • IOTA has partnered with security auditing firm Zokyo, which builds, funds, and secures crypto, DeFi, and NFT companies.
  • Zokyo will also provide its services to IOTA’s Shimmer network to help them securely scale their operations in the future.

Every player operating in the internet industry or the crypto and the blockchain world is keen enough to make a move into the world of Web3. While some big players are already making a move in this direction, the industry faces some imminent challenges in terms of exploits and security.

As per the Web3 Security Quarterly Report, more than $2 billion have been lost in the Web3 hacks and exploits only during the first half of the year. The IOTA Foundation has decided to bring an end to this by securing and auditing several Web3 projects.

To this mission further, IOTA has partnered with security auditing firm Zokyo, which builds, funds, and secures crypto, DeFi, and NFT companies. The goal is to secure and value projects built atop the IOTA ecosystem.

As part of this partnership, Zokyo will also bring its security services to Touchpoint Open Builders Program participants. this includes infrastructure testing, penetration testing, as well as smart contracts and protocol auditing services. The official announcement from IOTA reads:

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We’re excited to welcome Zokyo’s auditing expertise to Touchpoint and the wider IOTA ecosystem. And that’s not all: We’re also excited to announce that TangleSwap will be the first project building on Shimmer to be audited by Zokyo in preparation for their expected launch within days of the ShimmerEVM Mainnet launch.

Here’s how Zokyo works

As said, the Zokyo platform specializes in securing, funding, and building Web3 companies and other initiatives across chains, clouds, and networks. They also identify itself as a technology company specializing in building products and services to support several Web3 networks.

Ever since its inception in 2019, Zokyo has been working offering end-to-end services with “securing, architecting, building, and funding organizations” and helping them leverage blockchain technology. Zokyo said that they work closely with their client’s development teams in understanding their business goals, use cases, and much more.

Additionally, working with the founders of some interesting projects, Zokyo helps its clients with tokenomics, game theory, and more, in addition to building their technology stack. Speaking on the development, Zokyo said:

We combine crypto/Web3 and cybersecurity research with a real-world attacker mentality to reduce risk and fortify code.Sitting at the junction of security and innovation, we are differentiated by our blockchain sector specialism and a network of operational resources.

Zokyo also added that the emergence of IOTA’s Shimmer ecosystem provides them a great opportunity to support and add value to the IOTA ecosystem. “As a Web3 security and smart contract auditing firm, Zokyo will support Shimmer and the wider Touchpoint ecosystem with the necessary resources they need to securely create and scale their operation and future product launches,” it noted.