Since announcing that Digitex Futures will be handing over the final development of our exchange to Ethereum-approved developers SmartDec, we’ve received a lot of questions. Many of you wonder how SmartDec will succeed where other developers failed, and why we’re sure we can trust them. Perhaps you just want some extra insight into the Moscow-based development team who will be responsible for helping us create history. So, let’s take a closer look: who exactly is SmartDec?
SmartDec Is a Team of Over 50 Developers
Setting up the business in 2009, SmartDec began as an information security service. The team’s focus was mainly on performing security audits, decompilation, deobfuscation, and other similar services to companies.
Before entering the blockchain arena in 2017, SmartDec built up an enviable body of work and impeccable track record.
Among its many achievements, the company carried out over 100 manual security audits for major Russian banks, developed a static analysis tool that analyzes over 18 programming languages, including Java, C/C++, Objective-C, and Swift; and build a custom Linux kernel sandboxing solution.
Today, the team stands at over 50 developers strong in its Moscow development premises, with its headquarters in Israel, and a company representative in New York. In a little over two years, SmartDec has carved out a name for itself as a trusted and respectable player in the blockchain space.
SmartDec’s Work in the Blockchain Arena
Among the talented team’s accomplishments and scope of blockchain services, are the development of security tools for smart contract developers, blockchain security auditing, and technical consulting.
Here are a few reasons why SmartDec stands heads and shoulders above the rest.
1. Building Security Tools for Smart Contract Developers
In an industry plagued with hackers and cyber threats, SmartDec saw the need for tools to make developing smart contracts easier and more robust. The company launched SmartCheck in early 2017, one of the industry’s very first security tools for smart contracts.
The team has since set about improving and expanding SmartCheck by adding support for the Vyper language and making it open source and accessible to all. It later added support for ERC20 tokens allowing developers to ensure token compatibility.
2. Blockchain Security Auditing
Since 2017, the company has been providing security auditing services for blockchain projects large and small. To date, SmartDec has performed more than 200 separate audits in this area.
These range from what the team calls “the simplest ERC20 token audits” to the monitoring of entire systems, crypto wallets including Infinito, and entire blockchains like the popular Beam. The company is proud to have helped secure more than $1 billion in funds so far.
3. Technical Consulting
On top of SmartDec’s auditing and SmartCheck tool, the company also offers technical consulting on how blockchain can be integrated into business processes. This is a newer area of the business for the Moscow team, but it has already begun consulting with several large enterprise customers to see how viable blockchain integration would be to their business models.
4. The Development of Scalability and Privacy Solutions
Another major feather in its cap, SmartDec has garnered expertise in both scaling and privacy solutions for Ethereum. The team regularly works on second layer solutions like Plasma, and Side Chain services, as well as privacy solutions like ZK SNARKS and ZK STARKS. SmartDec is also actively working on projects utilizing these solutions from mobile apps to crypto wallets and now exchanges.
5. Ethereum Expertise
Primarily as a smart contract auditing company, SmartDec has built up an enviable knowledge of Ethereum and the Ethereum blockchain ecosystem. The team’s expertise extends from consensus algorithms and asymmetric cryptography to hash functions and network interaction protocols.
With a strong academic background, SmartDec’s lead devs combine over 15 years of experience in decompilation and security analysis, holding PhDs in these areas. SmartDec scooped up the top prize at the last Paris Hackathon by ETHGlobal and regularly beats out other development teams in Ethereum hackathons around the globe.
Why SmartDec Is the Perfect Fit for Digitex Futures
Sergio Pavlin COO at SmartDec says that the company is anxious to work with Digitex Futures on building the exchange because:
“It’s great to work on the top financial project in the cryptocurrency area. We look forward to the development of the project because we think it’s an important project for the Ethereum ecosystem. This is a real working project, not future dreams.”
He says that the company has enjoyed working closely with Digitex ever since we held our ICO in January 2018. The team carried out the audit and code fixes for our token sale back then. They also build the smart contracts for the Digitex Treasury, “working at the architecture” of our project.
“Since then, Digitex became a great long-term partner for us. We are the part of the developers’ team of Digitex for a long time and have never had any problems. As I said before, it’s a big interesting project for us. We hope that Adam and the Digitex team are also happy to work with us.”
How can Pavlin be so confident of delivering the finished Digitex Futures exchange when other developers have been unable to? Beyond the years of experience, in-depth knowledge of the Ethereum blockchain space, scaling solutions, and world-class developer talent, he says:
“We have an experienced team which of course can fulfill the assumed obligations… We will analyze the current situation of the project. First of all, we need to make a specification in which our capabilities will meet the expectations of Digitex Team. It will be great to be a part of the project which moves Ethereum and cryptocurrencies into the real financial world!”
We can’t wait to start working side by side with the SmartDec team. So stay tuned to watch as we update you with pictures, interviews, progress reports, milestone, and timelines as soon as we can.