Bitcoin Forum

hello guys
how are you ?

have a nice time
I have a question about altcoin and that projects !

how to check and trust in  altcoin and that projects ?

for example https://www.certik.org/ (https://www.certik.org/) is good idea to check project ?

have you seen site, online platform or applications like https://www.certik.org/ (https://www.certik.org/) to check and verify altcoin projects ?

can you help me ?

Yeah, part of showing the credibility and security status of a project, being audited by either certik or any other audit company is an important part of a project overall security, it is the primary aspect, the secondary could be the team background and track record,
You can see from the certik site that there are different levels of security scores for each project that top the leaderboard, and also the alert for projects that are vulnerable. So you can always refer to the site to look up security state of a project you are interested in.

First of all, Dont Trust Anyone.

Do your own research how I do it ?

1) I check out domain when its going to expire it show how long they are thinking to make it.
2) Strength of project ideology is it just another one or something different if I like it I will take risk.
3) Don't get in for 5x 10x 10000x Returns/ 99% people join for profit instead try to be part of it.    

 

So this project is all about cyber security. I find it interesting when there's a new aim for the project that I'm looking at just like this. It has reached its ATH already and now trying to get back there. Honestly, it made me interesting when I've looked at this project because I'm interested to learn more about cyber security. And since it's new to me, seeing it that it's also in binance makes me think that I can also sell that quickly since there's a reputable exchange that has listed it.

As far as I'm concerned they check smart contract code only. So its nice to see their audit ... you know that team can't manipulate circulating supply (for instance) or steal your money from liquidity pools (dex). But it does not protects token value (your investment) in case of rug-pulls or team simply disappearing (exit scams).

Top 20 CMC is quite safe and i would not go any further if you are not experienced enough.

Just because it was audited with the likes of Certik audit doesn't mean it was a safe investment after all. There has been cases that they audited the smart contract of a project e.g. VikingSwap. They are auditing the contracts free from bugs for example but as what Tytanowy Janusz said it doesn't mean your investments are safe or the one running the project.

Im fine and what about you? :D
That site being used to check whether the code that used by the project already fully audited and there was no back door that implemented by the developers or not. That's a good idea to check or verifying the contract was fully audited and there was no shady things already put by the developers to the smartcontract.
Yes i have seen that. there are some audit platforms other than certik like hacken and chain security. It's good to see that you're aware about this.
I have been answering your question and you can see my answer above.

The audit from certik cannot be the only reference that the project is safe, but in my opinion, it's an added value if the new project has audit results from certik. There are many methods and ways to identify scams. For example, there are websites such as token sniffers for BSC tokens to check the smart contract of the token, etc.

I don't quite understand what this check from Certik gives you as in investor... Well, it's better than nothing, of course. This shows you that admins spent some time and money to pass this check. At least they are not 15 years old nerds  ;D

You can try to combine some things as metrics to determine the trust for altcoin. Audit by certik can be considered as the most important part in this case but you must also consider about the community, developers, beta/mvp. The audit by certik was good and so many exchange sites have been using this as their standard to listing the new tokens. It's a good idea to always check the audit for the code to avoid the possibility for vulnerability cases to happen like rugpull. There are lots of online applications like certik but i think that would be good if you're also seeing another aspect. You need also to search the track record of the team. If that person in the team has a very bad track record in the crypto and this can be a strong point to avoid the project and abandon it. You need to add another standard to identity whether that project was legit or not.

There are few more things that you can check before investing in a project. Check whether they have been initially funded by any VC. A lot new projects are getting funded in the initial stages that they are not even conducting private sale and sometimes public sale too. This simple check will help you understand the backing of the project and how long will it go?

Certik is like a cat in a bag TBH. MAny projects will pay Certik to get listed on their website, and the code might be actually audited and safe, but there's always chance of a rugpull.
So be careful

Certik is only one from many tools which can tell us the project is true or no. Certik only provide audit so the smart contract is not breach or developer can not do potential rugg pull. Another research you need to do is team research and social media research.

no one talks about that projects, but base on my research there are some sites around the internet that provides ratings of some crypto projects including this one. i don't know if they're legitimate as well . Try to check the links below..
° https://www.scamadviser.com/check-website/certik.org
° https://isthiscoinascam.com/check/certik

By the way for me in my personal opinion it seems not a scam project because it has a value already approximately $1 and listed in some trusted sites especially CMC..  Perhaps can be traded as well. Maybe you ask if its a scam because of the situation wherein keep bleeding.. Fyi mate its a normal situation ..and you can actually determine if the project is a scam if it has no value for how many year or months because it's not normal. .  ;D

Certik only checks the code on the smart contract, not to help you escape scams. As we know there are lots of smart contracts that have problems, such as not being able to be sold, steal assets from buyer wallet, etc. This is the function of the audit to make sure the contract is save.

Many projects have audited at Certik but they failed to survive because too many early adopters are just looking for quick profits. The mass selling made prices dump, FUD happened everywhere and finally the project was stopped or abandoned by the devs. They are not scam, but it will be same as you are being scammed because even you sell tokens, maybe you are lose xx%.

This is relative, because the certificate is quite often the standard for checking a project and not a few of every project that has passed the inspection of the certificate provides a little guarantee and good prospect security. Although not a few also do not pass the examination of success in the market.

Not sure if checking a project code is enough to trust a project.

We have seen projects getting an independent auditor to check their code and it pass. However, after a few months, it was hack. I can't remember which project it was though. But the point is that we shouldn't trust anyone here not even those who claim they have the cutting technology to check for security loopholes and exploits.

Certik is very famous in blockchain industry especially in security. Here is the description on their Linkedin (https://www.linkedin.com/company/certik/)

Most of projects nowadays are run on smart contracts and if smart contract is hacked, that is terrible for not only project but for all investors. Therefore investors will look at security audit from company like Certik to assess projects before they do investment.

It is about security only, not about quality or potential to grow of a project.

Certik is one of the most trusted audit firms on the blockchain. In general, investors check whether there is an audit on new coins and invest accordingly. In my opinion, I think it would be better if several audit companies audited the projects instead of a single audit company. what do you think, are companies like certik enough on their own?

Besides Certik, another security blockchain audit company is Techrate.org (https://techrate.org/).

I mentioned about that audit from Certik or any other company is only evidence that smart contract is peer-reviewed and can be safely. We can not know it is totally safe. We only know it with time and real operation of a smart contract.

Smart contract safety is first and important but the quality of a project depends on core ideas from which it was born and not related to the smart contract safety. So smart contract audit is not enough. Look more at White paper.

IMO, I think Certik is just a smart-contract and security auditing platform, other than that they cannot give us a guarantee on every project that has passed and audited by them, But I agree that a security audit is needed to ensure that the smart contract is working well and don't have any holes that might be exploited by hackers, Certik is just one of the few auditing platforms that I've known aside from Callisto, Kudelski, ConsenSys, Experfy, Hacken, etc.

CertiK is an infrastructure and a set of tools for checking the security of smart contracts, using which you can find vulnerabilities. Personally I am used to trusting projects that have audits from such popular platforms, so when I investigate projects, I check if it has passed the audit.

This web-site gives different ranks to projects based on the level of security so you had better always check the rank of the project before investing on certik or rugpull. ::)

I think it's quite good if we go in and invest in a project by checking the project on the website, because the data provided by the website in my opinion is quite accurate and updated so that we can use it as a reference for several projects so that we can be calmer in investing in altcoins.

Hi guys, I want to share how to find out about the project of the coin you want to buy.
This is the usual way I do in finding out about ongoing and completed projects.
1. Of course, I checked it at the check, whether the coin has been audited by the certificate or not. Usually the coins that have been audited will have a good reputation and are worth buying.
2. I did some research on their whitelist, to see the purpose of their coin being formed, see what projects they will develop and their target completion. it is very important to see how well this coin can develop and compete in the crypto world.
3. do research on their roadmap, this is used to see how far they have completed their project, have it been completed according to the targets they set or not, see what projects are currently running, see what projects will be developed next, and see the schedule sales, airdrops, listings and more.
4. Enter the community. by entering the community we will know how strong this community is in supporting and promoting this coin so that it is known by many people and can develop well
That's the way I usually use, hope it helps.

If you check it on the project's website, it is certain that what is written there is only good stuff so that everyone can be very interesting to follow it while things that are still lacking for the project will not be written down immediately because if it is written, then investors will definitely will not approach the project.

Get audit certificates from big blockchain security audit companies is good and makes a project looks more trusted at least in term of security. However security and quality of a project are different. Quality of a project comes from the original idea that contributes on how a project will be built up.

A good idea, a good project can be compromised and we can not find any perfect company and product that have never been compromised in history. Google, Microsoft, Apple all have some types of compromise on their platforms, apps. Anyway because they are good and have strong resources, they fix issues quickly and keep moving on.

I know, Certic is one of the startups pioneering blockchain cybersecurity. The founder behind certiK is a professor of computer science at Yale University. So far, certiK is said have more than 320 customers with a total digital asset value of more than USD 10 billion.