What is CertiK and how to exchange CTK at the best rates
CertiK

CertiK

 CTK

In a world where there is almost no end to new crypto projects, CertiK fills a niche that is necessary, ensuring the integrity of the crypto industry. This article covers many issues of the project, including what is CertiK and CertiK audit, what is CTK coin, reveals if CertiK audit is legit, and much more.

CertiK Exchange Rate

CTK by TradingView

What is CertiK?

CertiK is a cyber security service that utilizes high-end artificial intelligence technology to ascertain the security of a blockchain protocol or crypto project.

As a firm, it typically detects vulnerabilities in a contracted blockchain protocol or smart contract. This process is called a security audit. The security service has audited several networks in the past, from major names like Binance Smart Chain, OkEx, Terra to other projects like Saitama and Safemoon.

Within its brief existence, the project has gained such a significant reputation it has cross-examined more than 1900 major crypto projects.

Other crypto outfits that the project audits include crypto exchanges, decentralized apps, and even cryptocurrency wallets, making them an indispensable tool for securing digital assets.

The Shentu Chain

The CertiK Blockchain, also called the Shentu Chain, was renamed only recently last September. Shentu, according to the company’s blog post, means “Protector”.

Also according to its whitepaper, Shentu Chain prioritizes cross-chain compatibility while deploying a delegated Proof-Of-Stake consensus. The security-oriented blockchain leverages its compatibility to offer real-time metrics on the state of several networks’ security.

Audited networks are evaluated on a real-time, weighted, security score. A quite high security score level means these particular projects may be eligible for a CertiKShield membership, which is a flexible, decentralized reimbursement system for any crypto asset that is irretrievably lost or stolen due to security issues. CertiKShield memberships are necessary to offer a kind of insurance to projects should an unforeseen attack succeed.

The CertiK Blockchain also utilizes DeepSEA technology, which allows developers to easily create programs that require complicated or elaborate code, saving them time and energy. The novel service also validates whether or not a source code will run as it is supposed to before it is launched onto the blockchain.

An Example: Saitama Audit

Asides from known crypto outfits like Binance, OkEx and PancakeSwap, Certik has evaluated community-driven projects like ApeCoin and Saitama as well.

In December 2021, CertiK conducted an audit on the Saitama-affiliated wallet, SaitaMask. With SaitaMask, users also can buy, sell or swap digital assets while “having all the control”. Authoritative services like CertiK offer newer products like Saitama a good level of public trust.

The Saitama team itself enthused about the network’s certification, once CertiK declared it safe and impervious to hackers. The certification puts SaitaMask on the map and opened up several listing opportunities for the platform.

What is a CertiK Audit?

CertiK is known for its reputable cross-examination of crypto projects. A CertiK audit is an extensive assessment of a blockchain protocol’s security. Ordinarily, the audit will consist of a thorough review of the code that a network runs on.

These audits hope to detect the presence of bugs, or vulnerabilities in the code that could potentially be exploited by hackers. After the evaluation check is completed, CertiK may offer possible solutions to these identified risks as part of its service.

How Long Does a CertiK Audit Take?

A CertiK audit is a simple 5-step process. First, a team of experts receives the source code to be reviewed. Then, the team receives quotes, which include the specification of the code and how it is expected to run. Afterward, the team conducts a security check, scrutinizing thousands of lines of code for possible vulnerabilities. When that is done, a report classifying the risks and possible solutions to those risks is compiled and delivered to the client.

Despite its seemingly tedious process, a CertiK audit can be fully conducted in as little as two days.

How Much Does a CertiK Audit Cost?

How much a CertiK audit costs depends on the project. The project’s age also does not affect this cost

Is CertiK Legit?

Having worked with the biggest players in the industry, CertiK provides one of the most trusted and esteemed security services in the crypto space.

The firm has detected over 31,000 vulnerabilities in code, worked with over 1900 startups, and helped secure over 8 billion USD worth of digital assets, according to its current metrics at time of writing.

CertiK’s certifications are also well sought amidst the firm’s reputation for excellent work.

CertiK Insurance

As said earlier, CertiK also help secure crypto assets by providing an ingenious insurance service, known as CertiK Shield.

More recently known as Shentu Shield, it is a service that provides financial compensation in the event that a crypto asset is lost or stolen. While it is decentralized, it functions much like a regular insurance system, in that users purchase a “Shield” which represents the value of a particular asset. An amount corresponding to this value is then stored away, and will be paid to the client if the asset is misplaced. Each Shield lasts for a period of exactly 21 days, after which the user can choose to renew the service or opt-out of it entirely.

Users can also choose to contribute to the collateral pool – the pool of funds financial reimbursements are drawn from – to earn a marginal profit on their holdings.

CertiK vs Hacken

Much like CertiK, Hacken is a security consulting company with a focus on blockchain security. Hacken also uses formal verification technology to detect possible weak links in networks and systems.

The fundamental difference between CertiK and Hacken is that the former one specifically handles smart contracts, blockchain protocols, and decentralized apps, while Hacken has a more general application and can be used to detect bugs in any kind of software, app, or cryptocurrency. Hacken has worked with a variety of businesses, from Gate.io, an exchange to TicketingUA, a ticketing platform.

Both firms are well versed in securing digital assets but have slightly different applications. A choice between either service should be made depending on the network or software in question

CertiK On The Crypto Market

The CertiK security-inclined ecosystem is powered by its native cryptocurrency, the CTK Coin.

CTK Coin

The CertiK Coin is a utility token, native only to the Shentu Chain.

CertiK Coins help facilitate transactions conducted on the CertiK blockchain. Owning a CTK token holds several benefits for users. For example, users who hold CTK automatically reduce their gas consumption, which leads to lower gas fees. Gas, in this case, refers to the transaction fees required to successfully complete a cryptocurrency transaction.

Moreover, CTK token holders also get to participate in the decision-making processes of the Shentu Blockchain. Holders can vote on decisions to be made concerning the blockchain, hence, the CTK token effectively decentralizes the governing power over the blockchain.

Additionally, users who own CTK tokens may also receive several other benefits and rewards.

CertiK Exchange

CertiK (CTK) coin is listed on and can be purchased on several exchanges. You can find the fastest and easiest exchanges to buy or swap CTK on Swapzone’s aggregator. Swapzone’s aggregating feature dramatically cuts down the time it takes to find suitable exchange rates. It has been made even simpler as no registration or KYC verification is required.

Follow these simple steps to buy your first CTK coin:

  • Go to swapzone.io on your browser.
  • Select CTK in the Send section.
  • Enter the amount you wish to swap.
  • Choose crypto to get in the Get Up To section.
  • Review available offers and their providers.
  • Select an offer to proceed with.
  • Enter your wallet address to receive crypto.
  • Send your CTK deposit to a generated address. Rate your exchange provider.

Popular pairs to convert CertiK

Frequently asked questions

What is the CertiK exchange rate?

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An exchange rate is the rate at which one cryptocurrency can be exchanged for another through a certain crypto exchange provider. Cryptocurrency exchange rates on Swapzone reflect current prices of crypto assets and are updated every 30 seconds for you to keep track of any market changes and fluctuations to profit when buying the dip or going with the best exchange rate and the lowest exchange fees. All cryptocurrency exchange providers have their own rates, which depends on supply and demand, mining rewards, costs and so on. See what else might affect the rate in our article on prices.

There are two types of exchange rates aggregated by Swapzone – fixed rates and floating rates. To receive the exact amount of crypto that is displayed at the beginning of the exchange and shield yourself against the market's volatility, opt for fixed-rate offers. If you're ready to take a risk and receive less or more than the sum displayed, go with floating-rate offers but bear in mind that floating rates may drastically change any second. You can refresh your memory on how to get the best exchange rate here.

Where to find the lowest transaction fees?

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Crypto transaction fees may vary depending on the network (Ethereum transaction fees tend to spike during the congestion on the network), your chosen cryptocurrency, an instant exchange provider as well as its transaction processing speed and internal policy. These fees may be relatively low but it’s crucial to know they may be imposed in the first place.

If you want to exchange cryptocurrency with the lowest fees, beware of the offers with a grey-colored “Transaction fees are not included” label displayed under the exchange rate. To avoid having to pay an unexpected amount of fees during the exchange, opt for those that do not have that label. Read our articles to learn more about how to exchange cryptocurrency with the lowest fees and find out which assets have the lowest transaction fees.

What is average transaction time?

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Transactions usually take from 5 to 30 minutes to be processed, especially if you choose currencies with speedy networks. However, there are several factors that may affect and slow down the exchange process, i.e. transaction volume, blockchain capacity, network updates, cryptocurrency itself and the capacity or chosen exchange platforms.

The processing may take longer due to the large transaction volume, congestion of the network, blockchain overload and market overload, technical issues or system failures, lack of liquidity or network maintenance.

The transaction may be also stuck if you forget to add a required Extra ID, mistake networks or use the wrong wallet for a chosen crypto asset. If you worry that the exchange processing is taking too long, please, contact us at [email protected] or via our live chat on the landing page.

How to choose a cryptocurrency wallet to store CertiK?

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To exchange, buy, sell or trade cryptocurrency and store your crypto keys safely and securely, you need a crypto wallet. Choosing the best cryptocurrency wallet is a question of preference and need. To learn more, read our guide on how to choose the best cryptocurrency wallet for your needs.

There are several types of wallets for different crypto assets and tasks. Software wallets, or hot storage wallets, are connected to the Internet and come in many forms: Web, Desktop, Mobile or Browser Extensions. If you want to build a large crypto portfolio, you might want to look at multi currency wallets like Exodus, MetaMask, TrustWallet, Atomic or Guarda. If a coin or a token of your choice isn’t available there, you can always opt for a single-currency wallet that is usually designed by the project that launched the asset.

If you take safety and security matters seriously, go for hardware wallets, or cold storage wallets, like Ledger or Trezor, or even paper wallets. We strongly recommend you to do your research before creating a wallet: read the reviews to see what the community thinks, learn about the fees a particular wallet imposes for performing transactions, check out supported currencies and networks and see its security policy.

What is the best cryptocurrency exchange for beginners?

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There are loads of different crypto exchange services, with new platforms emerging every month. Exchange providers differ by supported currencies, liquidity providers, fees, customer support, user interface, level of privacy and anonymity and customer support, which makes it hard for beginners to understand which one to choose. To learn more about what these exchanges offer and how you can assess them, read our guide on how to choose the best exchange platform.

To navigate them through the field full of services, we conduct research and thorough analysis of the market & list both prominent and promising exchange providers, keeping in touch with their teams 24/7. We give you all the necessary data on the offers they provide as well as their brief history, KYC/AML policies, reliability and advantages, while also indicating their downsides so that you don’t have to do that yourself.

What is Swapzone?

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Swapzone is an instant non-custodial cryptocurrency exchange aggregator that helps users make an informed choice when exchanging crypto assets. To make this possible, we gather the information on the exchange providers, select the parameters for comparison, aggregate and sort available deals & give an option to make a swap through providers' APIs in the same interface with a common user flow for every exchange. Still have doubts? Here's 9 reasons why you should use Swapzone to exchange crypto.

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