Israeli cryptocurrency company Ironblocks is developing a new security layer called Venn that will verify blockchain transactions before they are executed, preventing multi-million dollar attacks and hacks.

Venn is a decentralized network consisting of node operators who work together to reach consensus. Venn operators will act as gatekeepers and determine whether proposed transactions are too suspicious.

Venn does not add a “rollback” button to the blockchain, but rather a “review and undo” feature. Transactions that end up in Venn have not yet occurred. They are on their way to finality if they pass through the Venn reviewers.

Venn is scheduled to launch on testnet in the coming weeks. Network security will be ensured through a betting system; Venn is a so-called "actively verified service" that receives the overall economic security of the EigenLayer ecosystem.