Decentralized Audit Use Cases
Presentation of an example of use of the CheckDot audit protocol.
A new crypto project is starting a fundraising campaign to launch its project.
For any serious project in the crypto ecosystem it is recommended to provide code audits.
Usually because of its complexity and the use of specific terms, few people read the audit documents in depth.
With the CheckDot audit protocol, you can get clearer information about the scanned content.
Practical case :
The JuniorCoin project wishes to raise funds to successfully launch its NFT school courses providing platform.
Junior, the JuniorCoin project founder, noticed that the launch pad requires certain prerequisites in order to be fully transparent with its investors.
One of the criteria is to provide a verification of the digital token code. An indicator will be displayed if a NFT trusted certificate exists (Claimable).
The first step for JuniorCoin is to perform an Audit with an expert. CheckDot and its partners could guide the user to achieve it. Once the audit verification has been carried out by a qualified expert Junior can submit the result to the decentralized CheckDot verification service. Once the decentralized verification has been carried out by two or more anonymous verifiers, a trust score is established.
Depending on the score, a certificate can be claimed by Junior who can then promote it for its project.
Information about the score can directly be accessed through the NFT features.
How does it work?
Once the audit has been carried out by experts, additional requirements are supplied for the decentralized audit.
All holders of 30 CDT mimimum are able to verify the result of the audit through guidelines. As a reward the holder implied will earn CDT’s for the achieved work.
Once the defined number of checks is reached a confidence score is calculated to determine the quality of the audit result.
If the score is superior to 70% the trust index is claimable.
The trust index can then be shared and displayed by the audited project to its investors as a sign of trust.
The code audit is submitted to a second verification layer. Those are anonymous CDT holders who have followed specified guidelines helped by code verification experts (CheckDot partners). For this reason being a CDT holder makes you both earn CDT tokens and learn how to verify crypto projects code. Meanwhile, as a crypto project founder, using CheckDot platform can give you acces to the trust index badge proving to your future investors and users that an additional security check has been made.
So now the trusted index assures users about the security check of business.
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