EVM-based Layer 1 blockchain Flare partnered with the Web3 security firm Hypernative to safeguard its users from zero-day cyber threats by providing them with alerts regarding potential risks to digital assets, vulnerabilities within protocols, and decentralized applications (dApps), among others.
Hypernative employs proprietary machine learning models to monitor both on-chain and off-chain data sources. This approach enables accurate prediction of cyber, economic, and governance threats before they materialize. These predictions are then linked to automated playbooks, allowing for real-time prevention and mitigation of risks.
The architecture of Hypernative ensures continuous monitoring of diverse activities, encompassing on-chain transactions, governance proceedings, financial operations, and security-related events. Its design enables the proactive detection of numerous risks and potential attacks before they cause significant impact, allowing clients to respond promptly and minimize possible losses.
To date, the platform has identified more than 764,000 risks across 1,443 protocols, all of which undergo continuous monitoring. Additionally, Hypernative has detected over 270 potential exploits, representing a possible cost of $14 billion in damages. Serving some of the largest web3 ecosystems in the industry, the company currently oversees a total value of $37 billion.
In addition to gaining access to the platform and receiving support in configuring their alert settings, Flare users will have visibility into the monitoring and prevention processes. They will receive alerts and instructions as necessary and assistance from Hypernative in the event of an attack.
Flare Implements Embedded Oracles to Enhance Transaction Security And Efficiency
Flare operates as a blockchain platform optimized for decentralized data acquisition. Equipped with a suite of integrated oracles safeguarded at the network layer, Flare provides developers with secure and cost-effective access to a wide array of price and state data for their dApps. Being an EVM-based platform, it supports the launch and execution of any Solidity-coded applications on the network.
“Flare has been designed with embedded oracles to facilitate high-value transaction scenarios, such as those found in DeFi and AI applications,” said Hugo Philion, co-founder of Flare and CEO of Flare Labs. “Hypernative’s monitoring on Flare will further bolster our defense mechanisms, offering applications and users an additional layer of protection against potential exploits. Our overarching goal is to ensure the utmost security, instilling confidence among institutions, developers, and community members as they interact with decentralized applications on the network.”
The post Flare Network Partners With Hypernative to Protect Its Ecosystem from Cyberthreats Through Proactive Prediction appeared first on Metaverse Post.