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DeFi developers can save months of work thanks to the OpenZeppelin trading platform

October 27, 2020

OpenZeppelin, a blockchain software company known for developing one of the most widely used implementations of Ethereum’s ERC-20 treaty, announced the launch of a developer suite called Defender on Tuesday.

The tool helps automate many of the development processes associated with running decentralized Ethereum-based applications.. Provides a simple dashboard for managing updates and administrative operations for existing smart contracts, allowing developers to track changes.

Further functions are a Transaction reporter that simplifies integration into web-based backends, automated tasks like Oracle registration or updates, and a General knowledge base about best practices in development.

DeFi developers can save months of work thanks to the OpenZeppelin trading platform
DeFi developers can save months of work thanks to the OpenZeppelin trading platform

The company says these features typically need to be developed independently by each team to take the time and effort off of actually implementing smart contracts.

CTO of OpenZeppelin, Jonathan Alexandersaid Cointelegraph that this suite could help mitigate attacks on decentralized finance::

“Several of the exploits we’ve seen in DeFi this year, like those from YAM, Uniswap, dForce, and Hegic, could have been avoided or reduced through a careful security process, but the teams lack a comprehensive system that allows them to fully understand security informed. Best practices and risk assessment. “

The knowledge base shows how to alleviate some of the core problems that led to the attacks. like the reentry attack used in dForce, according to a presentation shown to Cointelegraph.

Beyond easy access to best practices Alexander said that a quick response tool could have reduced the loss of user funds in situations similar to the bZx and Opyn attacks.

The team decided to create the tool after talking to the developers who “They spent months and months of precious time building their own infrastructure and tools.”Said Alexander. “OpenZeppelin Defender is the first SecOps platform [operaciones de seguridad] for Ethereum and as such a critical addition is that the ecosystem was missing “.

Defender is free to use on testnet but requires a paid subscription for use in production.

New security and development tools are released to simplify the DApp development process. Monday, CertiK announced the launch of a blockchain designed to create a more liquid market for security reviews and ratings.