2024-10-23 01:32 |
Stacks Foundation is pleased to announce that Asymmetric Research has joined its ecosystem as a security contributor.
According to the Stack team, this strategic partnership is expected to significantly enhance the security of the Stack ecosystem. The partnership will also play an important role in the upcoming audit of the sBTC asset. Asymmetric Research will also become part of the Stacks Singer network through the Stacks’ delegation program.
sBTC is a trust-minimized two-way Bitcoin pegged on the Stacks layer. Operating as an open network decentralized two-way peg solution, sBTC is designed to make Bitcoin programmable. The asset also intends to bring full smart contract functionality to Bitcoin through Stacks. Notably, Stacks is set to launch sBTC in Q4 of 2024, allowing developers to leverage the security, network effect, and .5T in the patent capital of the Bitcoin network.
Commenting on the partnership, Mitchell Cuevas, the Executive Director at The Stacks Foundation, stated:
“The value of building on Bitcoin comes down to security. It’s not enough to simply build on Bitcoin— ecosystems must prioritize securing activity at all layers as we collectively look to unlock the Bitcoin economy. With Asymmetric Research, the Stacks ecosystem is adding yet another high-caliber entity to the mix of industry leaders collaborating to make sBTC the best programmable sBTC available. Stacks core developers and Asymmetric are committed to protecting users and developers, and in addition to being a match in technical pedigree, are culturally aligned groups that will enhance each other’s thoughtful and rigorous approaches.”
Stacks is a leading Bitcoin L2 created to bring smart contract functionality to Bitcoin without making any modifications to Bitcoin. The idea behind the project is to allow builders to leverage Bitcoin’s features, including security, wide adoption, and robust system.
Asymmetric Research is a boutique security venture that keeps L1/L2 blockchains and DeFi protocols. Asymmetric leverages a proactive approach to Web3 security. This approach allows it to engage with teams as embedded core contributors to eliminate bug classes over time systematically. The services offered include security research, security engineering, incident response, and blockchain validation. Asymmetric has over 90 years of combined team industry experience and has worked on over 100 blockchain security incidents. Overall, the team has helped avoid over $5 billion in potential losses.
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