The advent of smart contracts has long drawn interest for its potential to revolutionize business agreements. There’s just one problem, and it’s one that has affected many spheres of the cryptocurrency space: a knowledge gap. This gap exists between people who specialize in conventional legal terms and contracts and those who specialize in the technological programming of the blockchain.
On a recent episode of The Tatiana Show, host Tatiana Moroz interviewed Hartej Sawhney, president and co-founder of the cybersecurity firm, Hosho. Calling in from the back of a taxi cab in Istanbul, Sawhney explained that Hosho’s business advantage has developed around overcoming the knowledge gap.
“We see ourselves as a cybersecurity company that happens to focus on the cryptocurrency/ blockchain space,” said Sawhney. “What we’ve been doing to date has been building up a team of white hat hackers, people who have a strong background in the DevCon community.” For those unfamiliar with DevCon, it is considered to be one of the world’s largest and most well known hacker convention.
Headquartered in Las Vegas, Hosho focuses on auditing smart contracts “on any blockchain” and simulating cyber attacks to test the security of different systems. In addition, Hosho is also developing other cyber securities solutions for the space such as a multi-sig wallet for Ethereum and a Telegram group bot that detects phishing scams.
Fraud and Mistakes
Smart contract auditing remains the core of Hosho’s work. “Everything to date has been mostly people taking advantage of the fundraising mechanism of an ICO on the Ethereum blockchain,” said Sawhney. Auditing means that the developers are checking to make sure a smart contract is doing what it is supposed to do.
Sawhney pointed out that auditing smart contracts has shown him that there is a knowledge gap when it comes to finding developers with competence in Solidity, the language used to write Ethereum-based smart contracts, who are then able to perform these audits. And, according to Sawhney, the other side of