Tuesday, May 11, 2021

OmiseGo (OMG) Completes Security Audit of OMG Network’s More VP

OmiseGo recently announced that Quantstamp has just completed the security audit of OMG Network‘s More Viable Plasma (More VP). According to the report, this is the second audit conducted by Quantstamp.

The new development was shared via OmiseGo’s official website and Twitter handle.

OmiseGo reported that the first audit was conducted by Quantstamp in November 2018. Back then, their security engineers reviewed More Viable Plasma’s predecessor and Minimum Viable Plasma.

According to the report, the Quantstamp team aimed to answer the below questions during the security review:

  1. Can a malicious user compromise funds from OMG Network users?
  2. Can a malicious user disrupt a user’s ability to deposit, withdraw, or perform transactions on the OMG Network?
  3. Can users safely exit their funds in the presence of a malicious owner?
  4. How can the existing code be improved?

In the course of the audit, there were discoveries related to medium, low and severe security concerns, which were followed by lots of code quality improvement recommendations during phase 1 of the review.

Omisego then averred that the security issues that could have initiated unnecessary tension in the system have been duly resolved. It then promised to come out later with the full report of the audit.

About Quantstamp

Quantstamp is a Y Combinator supported company impacting the technological world with blockchain cybersecurity.

Quantstamp is made up of a team of security experts that have made up their minds to make the security of decentralized systems sure.

In the course of doing this, it is activating a future of safer and more reliable blockchain applications. It has also made notable impacts in enterprise companies by helping to deploy blockchain solutions with the mind-set that put security first.

Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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