Flare- a blockchain-based network platform, has tied up with Hypernative, a Web3 security giant, to provide seamless security to their platform against cyber attacks and evolving threats to web3 users.
The merger between Flare, an Ethereum Virtual Machine (EVM) smart contract platform, and Hypernative will see the latter providing protection to Flare ecosystem participants against zero-day cyber-attacks, alerting the network ahead of emerging risks to digital assets, protocol/dApp vulnerabilities, and evolving threats to web3 users.
Experts believe that Web3 attacks are becoming more sophisticated and are originating from a broader base of exploit vectors. As the industry continues to grow, the platform becomes a vulnerable target for bad actors across the globe. Experts therefore believe that a merger between the two companies will result in heightened security for participants, dApps, and institutions in the Flare ecosystem.
Due to its cutting-edge technology and preemptive risk detection, Hypernative ensures that it stays ahead of web3 exploits by continuously looking for weaknesses across assets, protocols, and applications. The Hypernative architecture is unique in the web3 space as it is able to provide “always-on” monitoring of various activities including on-chain, governance, financial, and security-based.
“There is a dawning realization that web3 needs a new security standard that goes beyond audits and bounties,” said Gal Sagie, co-founder and CEO of Hypernative.
The merger between the two which was made public on Thursday is expected to boost the confidence of web3 users in the Flare ecosystem.
“Flare has been architected with enshrined oracles to support high transaction value use cases, including DeFi and AI. Hypernative’s monitoring on Flare will help provide applications and their users with an additional layer of defense against potential exploits,” said Hugo Philion, Co-founder of Flare & CEO of Flare Labs.
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