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- Security and risk intelligence protocol Hypernative is on track to secure the Stacks ecosystem.
- With its growing ecosystem, Stacks DApps and smart contracts will benefit from Hypernative’s risk detection and Bitcoin’s security.
Hypernative, renowned for its real-time threat detection solution services to apps and small contracts, is collaborating with Stacks to enhance the security of the leading Bitcoin Layer 2 (L2) network. In a release by Hypernative, the collaboration is to integrate its state-of-the-art real-time threat detection with Stacks to strengthen the security of the network.
Hypernative To Offer Enhanced Security for Stacks Projects
Notably, the partnership will facilitate the integration of building projects on the Stacks platform for easy access to Hypernative’s robust security monitoring and prevention flows. As per the arrangement, Hypernative is saddled with assisting in the investigation, incident response, and identification of security gaps.
This is especially required during incidents of hacks resulting in missing funds. The overall aim is to leverage Hypernative’s expertise to curb fraud and exploits. It will also position operators to act swiftly to identify and limit threats.
Given that Hypernative’s architecture is structured to monitor both on-chain and off-chain data sources in real-time, it becomes a useful tool for spotting threats to networks. It is noteworthy that the platform can identify over 200 types of risks with unmatched precision.
To achieve this, it utilizes advanced machine learning models, heuristics, simulations, and graph-based detections. As per the Web3 space, Hypernative offers one of the fastest and most reliable threat detection according to reports. Since its launch till date, it has prevented hacking on many platforms with a detection rate of 99.5%. Its deployment has resulted in the protection of over $50 million in funds.
Gal Sagie’s Stance on the Integration
Commenting on the new partnership, Gal Sagie, CEO and co-founder of Hypernative, maintained it was necessary to guarantee the security of smart contracts given their growth. Sagie expressed Hypernative’s determination to secure the entire Stacks ecosystem from malicious actors to enable it to perform optimally.
“Stacks is on a mission to scale Bitcoin and enable advanced financial constructs such as decentralized finance on the network. With more code and more smart contracts comes a critical need to ensure they are safe,” Sagie stated.
As highlighted in our previous article, Stacks is gaining popularity and recently hit an all-time high with over 150 million STX locked in DeFi applications. The figure highlights the growing adoption of the Stacks’ DeFi ecosystem based on trust.
With the integration of Hypernative, Stacks ecosystem projects will benefit from comprehensive monitoring, addressing various attack surfaces and risk vectors. This will include bridges, internal infrastructure, smart contracts, multisig wallets, and treasury and token allocations.
Essentially, the collaboration is to bolster the security of Stacks. Additionally, it will enable projects to create powerful financial applications, anchored to Bitcoin, the world’s most secure blockchain. As noted in our earlier post, Stacks is a Bitcoin L2 that facilitates smart contracts and decentralized applications using Bitcoin as a secure base layer.
