Tokeny, the leading tokenization platform and
main contributor to the protocol, announced that the version 4.0 of the T-REX
implementation of the ERC3643, the open source blockchain protocol for
tokenizing real-world assets, underwent a thorough security audit conducted by
the leading Web3 auditor, Hacken.
The results of the audit yielded a flawless score of 10/10, serving as a
testament to the high level of security and integrity that the protocol offers.
The full score from Hacken builds upon the
proven track record achieved by its previous version, which has received
similar approval from the reputable third-party auditor, Kaspersky. Over the
years, the protocol has undergone multiple developments to enhance its
capabilities and cater to the needs of the tokenization ecosystem.
ERC3643 is the leading token standard for
permissioned tokens. It provides a comprehensive framework for token issuers to
enforce compliance and control, making it the most suitable standard for
tokenization of real-world assets and financial instruments. With its proven
track record of five years, it has become the de facto standard for
tokenization. In fact, more than $28B of assets around the world have been
tokenized using the protocol, including open-ended funds (UCITs and REITs),
alternative funds, asset-backed securities, debt, real estate, equity, trade
finance, with much more in the pipeline.
The key enabler of the compliance framework is
ERC3643’s built-in decentralized identity (DID) framework, ONCHAINID. It
provides a reliable way to ensure compliance by verifying the identity of token
holders via verifiable credentials. As a result, this solution allows users to
retain full custody of their assets, providing a high level of security and
control all within a compliant environment, even on a public blockchain.
Notably, the ONCHAINID standard was audited in parallel and earned as well a
10/10 security score from Hacken's audit.
Hacken's position as a top tier security
auditor for blockchain protocols is indisputable. Its extensive portfolio
includes conducting security audits for numerous high-profile crypto exchanges,
underscoring their profound comprehension of the security necessities of
blockchain-based systems. With both protocols earning 10/10 security audit
scores from Hacken, users can trust that they are reliable and secure options
for asset tokenization and identity verification.
The release of ERC3643 V4 is Tokeny's latest
contribution to the standardization of tokenization for capital markets. These
upgrades are also open source. By making sure that the main token standard for
tokenized securities is always up-to-date with the latest innovations, Tokeny
aims to accelerate the growth of the ecosystem.
Head of Blockchain of Tokeny, Joachim Lebrun,
added: "Receiving a 10/10 security audit score for the T-REX
implementation of ERC3643 from Hacken is a testament to our commitment to
providing the highest standards of security and compliance. This achievement
not only furthers the growth of the tokenization ecosystem, but also instills
confidence in our customers and partners that we prioritize their safety and
security above all else."
Dmytro Budorin, CEO of Hacken, also commented
on the audit results: "We are pleased to have worked with Tokeny on this
security audit, and we are impressed with the level of maturity and security
that the open source ERC3643 protocol provides. These smart contracts are
designed to ensure that security tokens are issued and managed in a secure and
reliable way, which is crucial for the success of any tokenization
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