BNB Chain Introduces “AvengerDAO”, a Community-Driven Security Mechanism to protect users from scams

BNB Chain, Binance’s original blockchain, has launched AvengerDAO, a new community-driven security initiative. To help protect users from scams, malicious people and potential exploits.

AvengerDAO is a decentralized autonomous organization (DAO) developed in collaboration with leading security companies and popular crypto projects such as Certik, TrustWallet, PancakeSwap and Opera, among others.

AvengerDAO consists of three main components: a passive API system called Meter, a subscription notification system called Watch, and a programmable fund management system called Vault.

When BNB Chain users interact with an application or counterparty, AvengerDAO adds an additional layer of security. The Meter API retrieves security ratings on smart contracts, domains, and wallet addresses. and alert users in case of security vulnerabilities

While Watch system alerts users about attacks in real time, Vault acts as an escrow where funds are released when pre-defined conditions are met.

Gwendolyn Regina, Investment Director at BNB Chain, explains that communities are responsible for security decisions. She said the community would survey existing security audit providers. to see what types of common security vulnerabilities exist.

“We think that as more professional security audit companies join DAO as a member, we will gain a deeper understanding of the security landscape. and continue to improve it.”

Some AvengerDAO members include Decentralized Security Applications (DApps) Hashdit.debutIntegration with PancakeSwap which will allow users to retrieve the security ratings of the smart contracts they are interacting with.

BNB Chain attaches great importance to user safety. and has launched several projects in the past few months. Prior to the release of AvengerDAO, BNB Chain introduced Dappbay with new features.called Red Alarm. This feature helps assess project risk levels in real time. and warn users about potentially vulnerable DApps.

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BNB Chain Introduces “AvengerDAO”, a Community-Driven Security Mechanism To protect users from scams appeared first on Bitcoin Addict.


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