Venn Network Aims to Solve DeFi's Hacking Problem With More Decentralized Tech
Summary
Ironblocks is launching a new Web3 security layer called Venn to address hacking issues in decentralized finance (DeFi). Venn acts as a transaction pre-screening network, creating an economy for crypto security by matching security operators with DeFi apps seeking transaction monitoring. Participating apps may reward auditors and cybersecurity firms for vetting transactions before execution. The network flags and freezes suspicious activities, allowing regular transactions to proceed to the blockchain. Major DeFi entities like Ether.Fi and Ethena are joining Venn's public testnet, with security firms serving as node operators.
