MACAU, CHINA / ACCESSWIRE / April 27, 2024 / On 22 April 2024, CertiK, a leading blockchain security audit firm, passed its audit of MicrovisionChain (MVC), marking a significant milestone as the first UTXO model-based solution to complete an audit in the industry. MVC, also known by its token symbol SPACE, features the same architecture and Proof of Work (PoW) consensus mechanism as Bitcoin. It expands Bitcoin’s functionality by incorporating Turing-complete smart contracts and enabling decentralized applications through the UTXO model. The successful audit by CertiK underscores MicrovisionChain’s dedication to upholding high standards of contract security and reliability, reinforcing its commitment to enhancing the Bitcoin ecosystem.

https://twitter.com/mvcglobal/status/1782299924488650785

Extensive MVC Audit: Security, Code Quality, Logic, Interactions, and Compliance

CertiK conducted a security assessment on the MVC project, which included the following key components

Token-core: The smart contracts related to the token economy, including the genesis contract for minting fungible tokens and the logic for additional mint features.

NFT-core: The smart contracts pertaining to non-fungible tokens (NFTs), including the structure for NFT unlocking scripts, NFT insurance, and NFT transfer mechanisms.

Mvcdao-core: The contracts associated with the MVC-DAO, which includes the main entry contract and operation contracts for the voting system, stake management, and other governance functionalities.

The audit covered a comprehensive examination using manual review and static analysis techniques, focusing on:

1.Testing smart contracts against common and uncommon attack vectors.

2.Assessing codebase compliance with best practices and industry standards.

3.Ensuring contract logic aligns with client specifications.

4.Cross-referencing contract structures against industry leaders’ smart contracts.

5.Thorough line-by-line manual review by industry experts.

Specific areas of focus within the audit included centralization risks, logical issues, denial of service vulnerabilities, design issues, and checksum calculations for the files in the codebase. The audit also provided recommendations for enhancing security and transparency, such as implementing timelocks, multi-signature wallets, and DAO governance structures.

Audit Approach: Static, Dynamic Analysis, and Beyond

CertiK’s audit of the MVC project involved a meticulous examination that integrated both manual review and static analysis techniques. The process included a line-by-line code inspection by industry experts, automated scanning for common vulnerabilities, testing against a spectrum of attack vectors, ensuring adherence to industry best practices, and verifying that contract logic conformed to the client’s specifications. The audit also entailed a comparison of the contract structures with those of industry leaders and provided detailed recommendations to address discovered issues. Special consideration was given to centralization risks, and the audit report included a thorough examination of the codebase with specific file checksums, identified commits, and a disclaimer about the report’s purpose and limitations. The goal was to enhance the security and quality of the MVC project, offering constructive feedback for continuous improvement.

Securing MVC’s Blockchain Project through CertiK Audit

MVC might choose to engage with CertiK for a variety of reasons, primarily focused on bolstering the security and integrity of their blockchain project. By undergoing a security audit and verification process provided by CertiK, MVC can ensure that their smart contracts are robust against vulnerabilities, thereby building trust and credibility with investors and users. This collaboration can also serve to mitigate risks, meet compliance standards, secure necessary insurance coverage, and differentiate MVC in a competitive market. Moreover, it can signify a commitment to continuous improvement, community engagement, and adherence to best practices within the blockchain industry.

MVC’s Big Picture: Launching the Proof of Build Program

Looking ahead, MicrovisionChain is set to launch its Proof of Build program, aiming to attract developers within the Bitcoin ecosystem to collaboratively expand and enhance the platform. This initiative will focus on fostering a community of developers committed to building and refining the capabilities of the Bitcoin sidechain.

MVC has recently launched an asset bridge that is interoperable with Bitcoin. This new feature can be accessed via the link provided: https://app.orders.exchange/bridge. The asset bridge addresses the issue of transaction congestion within the Bitcoin ecosystem, which includes BRC20 tokens, Runes, and other assets. Jason Kwok, co-founder and COO of MicrovisionChain, commented on their strategic plans: “We are actively planning to collaborate with renowned custodial institutions and execute strategic campaigns to achieve higher Total Value Locked (TVL) targets. These efforts are crucial as we aim to expand our reach and solidify our platform’s position in the digital asset ecosystem.”

In closing, it’s significant to observe the dramatic increase in SPACE’s address base, skyrocketing from 30,000 to 400,000 in just two months. This rapid growth not only reflects the escalating market interest but also positions MVC to become one of the most watched projects within the Bitcoin ecosystem, showcasing its potential to lead the way in innovation and security.

Contact Person: Jason Kwok

[email protected]

https://www.microvisionchain.com/

SOURCE: Microvision chain

CertiK, a leading blockchain security audit firm, passed its audit of MicrovisionChain (MVC), marking a significant milestone as the first UTXO model-based solution to complete an audit in the industry. MVC, also known by its token symbol SPACE, features the same architecture and Proof of Work (PoW) consensus mechanism as Bitcoin. It expands Bitcoin’s functionality by incorporating Turing-complete smart contracts and enabling decentralized applications through the UTXO model. The successful audit by CertiK underscores MicrovisionChain’s dedication to upholding high standards of contract security and reliability, reinforcing its commitment to enhancing the Bitcoin ecosystem.

https://twitter.com/mvcglobal/status/1782299924488650785

Extensive MVC Audit: Security, Code Quality, Logic, Interactions, and Compliance

CertiK conducted a security assessment on the MVC project, which included the following key components:

Token-core: The smart contracts related to the token economy, including the genesis contract for minting fungible tokens and the logic for additional mint features.

NFT-core: The smart contracts pertaining to non-fungible tokens (NFTs), including the structure for NFT unlocking scripts, NFT insurance, and NFT transfer mechanisms.

Mvcdao-core: The contracts associated with the MVC-DAO, which includes the main entry contract and operation contracts for the voting system, stake management, and other governance functionalities.

The audit covered a comprehensive examination using manual review and static analysis techniques, focusing on:

1.Testing smart contracts against common and uncommon attack vectors.

2.Assessing codebase compliance with best practices and industry standards.

3.Ensuring contract logic aligns with client specifications.

4.Cross-referencing contract structures against industry leaders’ smart contracts.

5.Thorough line-by-line manual review by industry experts.

Specific areas of focus within the audit included centralization risks, logical issues, denial of service vulnerabilities, design issues, and checksum calculations for the files in the codebase. The audit also provided recommendations for enhancing security and transparency, such as implementing timelocks, multi-signature wallets, and DAO governance structures.

Audit Approach: Static, Dynamic Analysis, and Beyond

CertiK’s audit of the MVC project involved a meticulous examination that integrated both manual review and static analysis techniques. The process included a line-by-line code inspection by industry experts, automated scanning for common vulnerabilities, testing against a spectrum of attack vectors, ensuring adherence to industry best practices, and verifying that contract logic conformed to the client’s specifications. The audit also entailed a comparison of the contract structures with those of industry leaders and provided detailed recommendations to address discovered issues. Special consideration was given to centralization risks, and the audit report included a thorough examination of the codebase with specific file checksums, identified commits, and a disclaimer about the report’s purpose and limitations. The goal was to enhance the security and quality of the MVC project, offering constructive feedback for continuous improvement.

Securing MVC’s Blockchain Project through CertiK Audit

MVC might choose to engage with CertiK for a variety of reasons, primarily focused on bolstering the security and integrity of their blockchain project. By undergoing a security audit and verification process provided by CertiK, MVC can ensure that their smart contracts are robust against vulnerabilities, thereby building trust and credibility with investors and users. This collaboration can also serve to mitigate risks, meet compliance standards, secure necessary insurance coverage, and differentiate MVC in a competitive market. Moreover, it can signify a commitment to continuous improvement, community engagement, and adherence to best practices within the blockchain industry.

MVC’s Big Picture: Launching the Proof of Build Program

Looking ahead, MicrovisionChain is set to launch its Proof of Build program, aiming to attract developers within the Bitcoin ecosystem to collaboratively expand and enhance the platform. This initiative will focus on fostering a community of developers committed to building and refining the capabilities of the Bitcoin sidechain.

MVC has recently launched an asset bridge that is interoperable with Bitcoin. This new feature can be accessed via the link provided: https://app.orders.exchange/bridge. The asset bridge addresses the issue of transaction congestion within the Bitcoin ecosystem, which includes BRC20 tokens, Runes, and other assets. Jason Kwok, co-founder and COO of MicrovisionChain, commented on their strategic plans: “We are actively planning to collaborate with renowned custodial institutions and execute strategic campaigns to achieve higher Total Value Locked (TVL) targets. These efforts are crucial as we aim to expand our reach and solidify our platform’s position in the digital asset ecosystem.”

In closing, it’s significant to observe the dramatic increase in SPACE’s address base, skyrocketing from 30,000 to 400,000 in just two months. This rapid growth not only reflects the escalating market interest but also positions MVC to become one of the most watched projects within the Bitcoin ecosystem, showcasing its potential to lead the way in innovation and security.

Contact Person: Jason Kwok

[email protected]

https://www.microvisionchain.com/

SOURCE: Microvision chain

On April 17, 2024, just before the commencement of the Token 2049 conference in Dubai, the Dubai Web3 Gaming Grand Party, hosted by Sonic and ABGA, and co-hosted by BinaryX, took place at the iconic Burj Khalifa Armani Hotel. Sponsored by MixMarvel, Yeeha, Aura, BitcoinCats, Supra, and ARPA, with additional support from Mirror World, ICC, and Gam3girl Ventures, the event celebrated the theme of Web3 gaming. Despite recent extreme weather, the participants’ enthusiasm was unbridled, further ignited by Dubai’s spectacular night skyline. The event brought together Web3 industry experts and gaming leaders to explore the limitless innovative potential of Web3 gaming, paving the way for the future.

The event featured compelling speeches and major partnership announcements, along with three insightful industry panel discussions, covering Web3 gaming technology, strategic development in gaming, and industry trend exploration.

Speech Highlights

Following an impressive opening Fire Show, Kevin Shao, Executive President of the Asian Blockchain Gaming Alliance (ABGA) and consultant to ICC, delivered opening remarks, outlining ABGA’s mission and vision. Chris Zhu, Co-founder and CEO of Sonic/Mirror World, then discussed how Sonic supports developers in building efficient Web3 games, showcasing Sonic’s development trajectory and ecosystem strategy. Their speeches set a positive tone, kicking off the event on a high note.

As the title sponsors, representatives from MixMarvel and Yeeha Games shared insights during the Title Sponsor Sharing Session. Jade Zhang and Nancy Liu, founders of MixMarvel and Yeeha respectively, along with FD, founder of Gam3girl Ventures, highlighted their companies’ achievements and future directions. They also introduced GGI (Galaxy Girl Interactive), a new brand collaboratively launched by MixMarvel and Yeeha Games. Melody He, from Spartan Group, shared the GGI brand story in this context. GGI aims to forge a next-generation co-creation platform for Web3 gaming and AI, integrating a comprehensive ecosystem from Web3 infrastructure to distribution platforms, powered by AI and Rangers Protocol.

Panel Discussion Insights

Panel Discussion 1: Catapulting Web3 Gaming

• Moderated by Devon Mojito of Sonic/Mirror World, with panelists from BinaryX, Supra, Bitcoin Cats, and Aura, this discussion explored key issues like user acquisition, blockchain innovation in gaming, cross-chain functionalities, and network performance, providing deep insights into the future of Web3 gaming.

Panel Discussion 2: Exploring the Renaissance of Web3 Gaming

• Led by Marko Okhman of XTON Launchpad, with leaders from Mythical Games, zkSync, and aelf Ventures, the panel delved into how blockchain technology can transform gaming, discussing innovative gameplays and business models that could revitalize the Web3 gaming sector.

Panel Discussion 3: Shaping the Future of Web3 Gaming

• This panel focused on infrastructure perspectives, with discussions led by Yoka of ABGA and representatives from Manta Network, Solana Foundation, and Metis L2, examining the role of infrastructure in advancing Web3 gaming.

The Dubai Web3 Gaming Grand Party was a milestone event, gathering pioneers to deeply analyze and shape the future of Web3 gaming. It set the stage for continued exploration and development in this dynamic field, with the next major event, SG WGS, scheduled for September during Token2049 in Singapore.

About Sonic

Sonic is the pioneering Gaming Chain on Solana, offering a scalable architecture, HyperGrid, to assist developers in managing game states and events efficiently, with full EVM compatibility and native game engine support for comprehensive on-chain game development.

About ABGA

The Asian Blockchain Gaming Alliance (ABGA) is a coalition of leading blockchain gaming enthusiasts and organizations, fostering industry growth through events, discussions, and project incubation.

About ICC

Imagine Creation Combinator (ICC) specializes in integrating blockchain technology with the gaming industry, offering comprehensive services in event management, PR, and Web3 gaming entrepreneurship.

About MixMarvel

MixMarvel is a leading blockchain content incubation and creator community platform, offering investment, incubation, and publication services, connecting Metaverse entrepreneurs, investors, and users through a decentralized application ecosystem.

About Yeeha Games

Founded in 2021 with $50 million in funding, Yeeha Games is a leading platform in interactive entertainment, offering a wide range of games and fostering innovation through user-friendly tools, with a significant global user base engaged in various gaming activities.

About Binary X

BinaryX is a leading Web3 gaming platform dedicated to creating immersive and engaging gaming experiences like Ai Hero and Pancake Mayor. Built on the BSC Chain, BinaryX leverages the latest technologies like blockchain and AI to provide players with unique opportunities to own in-game assets, participate in decision-making processes, and experience the true potential of Web3 gaming.