Loom PlasmaChain Completes Third-Party Security Audit and Is Now Open Source! ?
A couple months ago, we hired an external firm to audit our PlasmaChain and Transfer Gateway code.
PlasmaChain is Loom’s mainnet, which bridges other Loom sidechains to Ethereum and other major blockchains. It is optimized for highly-scalable user-facing dapps, and enables secure asset transfers between chains.
Blockchains are no joke. The codebase is often complex, and a lot is at stake (no pun intended ?).
Public blockchains are designed to be decentralized — meaning there is no central authority that can censor transactions. However, this also means there is no central authority you can appeal to in case of fraudulent transactions or hacks.
Hence, ensuring the security of a blockchain is paramount. And since we take security so seriously here at Loom, we made sure to have a proper security audit done by a reliable third party.
Trail of Bits is an information security company founded in 2012 by industry leaders Dan Guido, Dino Dai Zovi, and Alexander Sotirov.
Some of their notable clients include Western Digital, Facebook, and DARPA. In the blockchain industry, they’ve done security audits for Parity, Gemini, and Tendermint, among many others.
We wanted the best security experts to test our code, and based on their track record, we hired Trail of Bits for the audit.
The PlasmaChain security audit was done from April 1 to May 3 of 2019.
The auditors did a manual code review of the loom binary, the Ethereum mainnet smart contracts that make up the Transfer Gateway, and the Delegated Proof of Stake (DPoS) system, and further tested the code as following:
- Loom binary: reviewed the loomchain repository, developed a fuzzer, and performed manual dynamic testing
- Transfer Gateway: reviewed the transfer-gateway-v2 repository, ran Slither on the code, and performed manual dynamic testing
- DPoS system: reviewed the dposv3 repository, developed a fuzzer and invariant checker, and performed manual dynamic testing
All issues uncovered in the audit have been acknowledged, fixed, and tested thoroughly, and additional security enhancements have been implemented — making PlasmaChain more secure than ever.
And to maintain this high level of blockchain security, we plan on having regular third-party security audits performed in the future.
Now that we’ve ensured the security of PlasmaChain, we’ve made the code open source. This is an important step toward making the chain a fully decentralized network.
You can view the code on our GitHub.
Published at Wed, 03 Jul 2019 15:42:48 +0000
