Everstake Passes ChainSecurity Audit: Strengthening Staking Security

Everstake has completed the ETH B2C Staking security audit by ChainSecurity, reinforcing our platform’s protection. This provides users with greater confidence in staking, with measures in place to keep their assets secure.

In this article, we’ll break down the audit process, its significance, and why it matters for Everstake and our community.

What is ChainSecurity?

ChainSecurity is a leading blockchain security firm specializing in smart contract audits and security assessments. Since 2017, ChainSecurity has worked with top-tier DeFi protocols, research institutions, central banks, and large organizations, providing expert security evaluations for the platforms.

The firm’s expertise covers a wide range of blockchain protocols, offering detailed and accurate security analysis to safeguard users and developers. Their audits help companies like Everstake improve system integrity and maintain user trust through comprehensive security reviews.

What is a Security Audit, and Why Does it Matter?

A smart contract security audit is a comprehensive review of a smart contract’s code to identify vulnerabilities and ensure its functionality aligns with its intended design. In staking, this is essential for safeguarding users’ assets, preventing exploits, and securing blockchain interactions.

For Everstake, regular audits—like the one conducted by ChainSecurity—are key to maintaining a secure and reliable platform. They help uncover potential risks, from unauthorized access to financial discrepancies and slashing threats, reinforcing our system’s resilience.

ChainSecurity’s Audit Details

ChainSecurity is known for its expertise in identifying vulnerabilities and assessing the overall security of decentralized platforms. During the audit, the team focused on key areas, including:

• Accounting Accuracy: Ensuring that staking rewards and deposits are correctly tracked and users’ balances are consistently updated.
• Asset Solvency: Verifying that the platform can always meet withdrawal requests, maintaining liquidity and financial stability.
• Access Control: Examining the permissions and roles within the system to prevent unauthorized access or malicious activity.
• Functional Integrity: Confirming that all system functions operate as intended without bugs or exploits.

While two critical issues were identified, both were resolved swiftly:

1. Replacing a Validator Could Block the System: A flaw in the process of replacing validators could have led to system downtime. This was quickly addressed by adjusting the validator status logic.
2. Usage of address(this).balance in Restake: This method introduced a potential risk of mismatched contract balances. This was fixed by modifying how the contract manages and tracks liquidity.

With these issues resolved, the audit confirmed that Everstake’s security measures are strong and reliable, reinforcing that users’ assets remain well-protected.

Why the Audit Matters for Everstake

The ChainSecurity audit is a critical step in ensuring the security and reliability of our ETH B2C Staking platform. With significant user funds at stake, we must continuously validate our system’s integrity.

By identifying and addressing key issues, this audit reinforces user trust and highlights our commitment to security. Similar to our SOC 2 certification, it demonstrates our proactive approach to protecting assets and maintaining a secure staking environment. 

This is also the second successful audit we’ve passed with ChainSecurity, further solidifying our platform’s resilience and commitment to best security practices. You can find out the details about our first audit here.

Summary

Following the ChainSecurity audit, we continue to enhance our platform’s resilience through regular reviews and updates. We are committed to staying ahead of emerging threats and evolving security standards, ensuring that our staking services remain secure, reliable, and trusted by our users.

The audits we passed validate our ongoing efforts to provide secure and high-performing staking services, ensuring that users’ assets are protected from potential risks. 

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Everstake is a software platform that provides infrastructure tools and resources for users but does not offer investment advice or investment opportunities, manage funds, facilitate collective investment schemes, provide financial services or take custody of, or otherwise hold or manage, customer assets. Everstake does not conduct any independent diligence on or substantive review of any blockchain asset, digital currency, cryptocurrency or associated funds. Everstake’s provision of technology services allowing a user to stake digital assets is not an endorsement or a recommendation of any digital assets by it. Users are fully and solely responsible for evaluating whether to stake digital assets.