The World’s First DAICO Smart Contract Audited By OCEANICO

DAICO is a new model that integrates characteristics of DAOs into ICOs. The original idea was suggested by Vitalik Buterin in January 2018 and is aimed at making ICO’s more secure by involving investors in the initial project development process. It will further enable token holders to vote for the refund of the contributed funds if they are not happy with the progress being made by developers.  

The first project claiming to implement the DAICO concept is the Swiss startup, The Abyss - the next-generation digital distribution platform. In January 2018, the company announced conducting world’s first DAICO, and over time had its smart contract redeveloped in compliance with the new fundraising model.

“On hearing this, we decided to seize the opportunity of auditing the world’s first DAICO code, and obtained The Abyss’ smart contract on GitHub”. - comments Zoya Rzaeva, CEO of OCEANICO. - “After three weeks of work, the conclusion was finalized and sent to The Abyss for their consideration”.  

The conclusion states that: “Code quality is very good. Code style follows to the solidity recommendations. Almost all public methods have comments”.

 “No critical errors and possible vulnerabilities were identified during the audit. The Smart Contract complies with the requirements specified in the terms of reference”. - adds Zoya Rzaeva.  

Based on the results, recommendations for optimizing and ensuring the quality and security of the Smart Contract code were given to the developers’ team.

 

Click here to read the full report.

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Our Team at Blockchain Expo 2017 North America

The world’s largest blockchain conference and exhibition relocated to Silicon Valley this November. Blockchain Expo North America 2017was held on November 29 and November 30 in Santa Clara bringing together over 3000 professionals from a variety of industries and crypto enthusiasts for two days of intense workshops and presentations from leading developers of cutting edge blockchain technologies.

Blockchain Expo was co-hosted with other major IT events: AI Expo and IoT Expo. The overarching topic of this edition of Blockchain Expo was exploring the industries that are set to be disrupted the most by the emerging blockchain technology such as legal, finance, insurance, energy, healthcare, music, gaming, government, sports, real estate and others. Speakers included Brian Behlendorf of Hyperledger, Pramod Achanta of IBM Blockchain Services, John Mercurio of Bitfury, Laura Fontana of Wells Fargo, Michael Terpin of BitAngels.

We are proud to have been a part of this spectacular event.TargeAdrepresentatives were in Santa Clara together with our partners from OceanICO and BestRate. It was a great opportunity for us to connect with our partners, customers, colleagues and friends, and to learn firsthand about new developments in the blockchain world right from the frontlines. Two days of networking resulted in us getting to know many prospective customers. Our hopes are high for cooperation in future.

Let’s meet on Token Summit in San Francisco next week!

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Smart contract: why do you need an expertise?

 

Like many ideas in the blockchain industry, a general confusion today is around so called “smart contract”. According to the main definition a smart contract is a computer protocol intended to facilitate, verify, or enforce the negotiation or performance of a contract.

Thus a new technology made possible by public blockchains, smart contracts are difficult to understand because the term partly confuses the core interaction described. While a standard contract outlines the terms of a relationship, a smart contract enforces a relationship with cryptographic code. Thus we can say that it sounds a little bit untransparent, as it is intangible, but in practice it is even more precise.

As a result, to be confident, today all big investment players check smart contracts before making the decision. Imagine the situation when you are affected by simply not following the general standards, a difference in the information in your smart contract and the website or unknown mistake.

 

OceanIco can help you to minimize those risks. What We do:

Smart Contract Development

We’ll tell you usual cases and brainstorm something new under request. More important we’ll develop your smart contract in time.

Smart Contract Deployment

While usually underestimated, this task is not that easy. We’ll be glad to do it for you with all needed wariness and care.

Smart Contract Audit

We’ll audit your smart contract and check it for errors and risks.

Your smart contract is the key to the successful ICO campaign!

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Successful cooperation CryptoBnB & Oceanico

 

At the end of 2017, our experts at Oceanico had a great opportunity to assist on an exciting new project which is bound to become a real difference maker for the shared economy market.

 

CryptoBnB presents an innovative platform for the growing segment of short-term home rentals. Powered by CryptoDNA®, an innovative proprietary mechanism, CryptoBnB offers a marketplace to connect individual homeowners and tenants seeking short-term lodgings for their vacations. Among the in-platform services are a new generation search engine powered by AI, Permission Blocks within smart contracts for enhanced transaction security and p2p direct marketing.

Oceanico Ethereum experts joined forces with CryptoBnB developer team to thoroughly examine the ICO smart contracts for any possible errors or inconsistencies in the code. The Oceanico expert team conducted a total of four complete cycles in the Ethereum test net,  identified several minor errors in the code and gave recommendations on how to eliminate these errors. After each cycle, all errors so identified were duly remedied by the CryptoBnB developers in close . According to the audit report, the smart contracts submitted for the final audit perform all the functions specified in the technical assignment without any errors.

 

“Oceanico work was very critical to our operation to give assurance to us and our contributors on the safety of their data Tariq Alwahedi founder of CryptoBnB said. The results of the joint efforts by CryptoBnB and Oceanico demonstrate that the CryptoBnB project has a solid technical background and a team proficient in the Ethereum blockchain technology: quite the signs of a trustworthy startup with impressive potential.

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