The Entersoft team has successfully secured Smart Contracts worth over $500M USD.
Our experienced security analysts and architects offer proven knowledge across multiple blockchains and different business cases.
The majority of them were "centralized crypto exchanges & ICOs", a few belong to "decentralized crypto exchanges", and the remaining belong to the "bullion market
Entersoft helped several ICOs by reviewing their whitepapers which paved a route for them to successfully raise approx 1 bn$ worth of market cap.
DeFi or “decentralized finance” is an umbrella word for peer-to-peer financial services that are made voluntarily available on public blockchains. DeFi services utilize Smart Contracts, which are digital contracts stored on a blockchain that is automatically executed when predetermined conditions are met. At present, the DeFi sector is gauged to be worth well more than $100 Billion with an ever-expanding array of DeFi applications allowing users to earn interest, borrow, lend, purchase insurance, trade derivatives, and trade assets, stake assets, and more. The only catch – is it’s faster than legacy financial systems and doesn’t require paperwork or a bank or other third party. As is the case with most crypto products, DeFi is global, pseudonymous, low-cost, lightning-fast, and open to all.
The DeFi sector has seen exponential growth over the past 2 years, and the vast majority of that success can be attributed to the seamless integration of dApps into our modern financial landscape.
Decentralized applications or dApps are similar to traditional software programs, however, dApps utilize Smart Contracts and operate on blockchain networks rather than centralized servers. dApps are developed over decentralized networks, and the use of smart contracts removes dependency upon third parties thereby ensuring decentralization. Currently, more than 3600 dApps are servicing DeFi and gaming, equating to almost $182.5 Billion worth of user transactions annually.
Decentralized Finance (DeFi) sits at the forefront of a new era of financial products and services. By leveraging open source software and composable frameworks, DeFi removes all conventional barriers to financial services in a trustless and transparent manner. DeFi projects bypass unneeded third parties and arbitrators, opening the door to a new world of universally inclusive financial systems.
With Decentralized Exchanges, Derivatives platforms, Lending and Borrowing protocols, Yield Generation, and Insurance offerings, the DeFi sector is poised for exponential growth.
At present the DeFi space is populated with both fledgling and highly established projects, the most well-known of which include major success stories such as Aave, Compound, BlockFi, Curve, 1inch, Bancor, UniSwap, OpenSea, Synthetix, MetaMask, Balancer, and Nexus Mutual.
GATCOINCryptocurrency used by thousands of people to trade loyalty rewards
AIRSWAPDentralized, peer-to-peer token trading network powered by Ethereum
ABACUS EXCHANGEDecentralized, peer-to-peer token trading network powered by Ethereum
BITSPIDERCryptocurrency used by thousands of people to trade loyalty rewards
BLOCKTRADEDecentralized, peer-to-peer token trading network powered by Ethereum
BONUMDecentralized, peer-to-peer token trading network powered by Ethereum
Currently, the Total Value Locked (TVL) across all DeFi projects stands at approximately $210B USD. Ethereum, the backbone of the DeFi sector holds $115B in assets thanks to projects like Curve, MakerDAO, and Convex Finance. Terra accounts for $29B, through protocols like Anchor, Lido, and Astroport while the Binance Smart Chain (BSC) rounds out the top 3 with over $14B in crypto assets locked in popular DeFi exchanges such as PancakeSwap, Venus, and BiSwap.
With such substantial values locked in DeFi projects globally, the need for robust, security practices couldn’t be more crucial.
DeFi Security has two main purposes