Spree of multimillion dollar hacks creates booming business for blockchain security experts

guest · Jul 26, 2022

July 26, 2022

Even as cryptocurrency markets face economic turbulence, there’s one segment of blockchain-based industries where business is booming: blockchain security.

A boutique industry of auditing firms formed over the past few years to deal with the emerging technology now boasts up to a year-long wait time to even begin working with customers and a growing list of job openings they can’t fill quickly enough.
And investors are flocking to get a piece of the action, too, pumping millions of dollars into firms that promise to help safeguard an increasingly fragile cryptocurrency ecosystem.
Click to expand...

While experts like Guido adamantly advise that companies have other security processes baked into their development and review processes, external audits have become a crutch for an industry hobbled by a lack of blockchain security experts.

“It is not a good thing that there is a dependence upon terminal consultants for core competency required to build blockchain software.”
Click to expand...

Blockchain projects offer distinct challenges for security professionals. Foremost, many are written in newer and less common coding languages such as Solidity, narrowing the pool of individuals who can audit the code.
Click to expand...

As the industry waits on universities and traditional training programs to catch up to the needs of the blockchain industry, some security experts have taken a hands-on approach to nurture new talent.

“There’s the tragedy of the commons that happens with education and talent,” says Rajeev Gopalakrishna, a researcher who founded Secureum, an online learning community and boot camp for security experts interested in blockchain security. “Everybody wants to hire talent. But who is going to train them or build the content?”
Click to expand...

Log in or Sign up

Spree of multimillion dollar hacks creates booming business for blockchain security experts

guest Guest

Log in or Sign up

Spree of multimillion dollar hacks creates booming business for blockchain security experts

guest Guest

Useful Searches