Singapore, Singapore, July 23rd, 2024
Founded in 2021, CredShields is a Web 3.0 security organisation that offers top-tier auditing services and develops affordable, accessible products to meet the demands of the expanding blockchain sector. In March 2022, CredShields introduced its flagship product, SolidityScan. Created by a team of renowned security experts with over a decade of cybersecurity experience, SolidityScan serves as an all-in-one platform for smart contract scans, source code vulnerability analysis, and automated smart contract security audits. It is designed for Web 3.0 developers, auditors, and organisations to monitor projects in real-time and enhance their security posture over time. Credshields has received a strategic investment of $1.8Mn+ from investors such as Draper Associates, Boost VC, Artemis Capital, and renowned angels. Credshields has also received prestigious awards such as Best Security Startup of the Year 2023 and Gold Web3 Innovation Award 2023.
Remix is an online Integrated Development Environment (IDE) that offers a no-setup tool with a GUI for developing (creating, testing and deploying) smart contracts using Solidity – Ethereum’s programming language. Remix IDE provides a straightforward interface with features such as Solidity editor, compiler, debugger and tools that can be integrated using plugins and extensions.
Currently, the Web3 ecosystem has 30,000+ active developers (with total developer number being around 50,000+). Out of all the Web3 projects, 71% of contract code is deployed on Ethereum, using Solidity. This creates a huge market for the Web3 Infrastructure Development tools for Solidity, and Remix is the go to IDE, when it comes to Solidity.
The Web3 ecosystem is exploding, with the total crypto market cap exceeding $2.5 Tn. However, Web3 is also more susceptible to security breaches. 2023 saw a total loss of $1.58 Bn, with this number already being at $720 Mn in 2024 (Up to Q2). Smart Contracts form the backbone of dApps, and have the maximum exposure to security attacks. The manual audit procedures to combat this issue are expensive, slow, and do not allow real-time threat monitoring. Through SolidityScan Remix Integration, Credshields is bringing on-demand smart contract security analysis directly into the development workflow. This works seamlessly within the Remix IDE environment. The tool leverages SolidityScan’s engine for real-time security vulnerability insights, empowering clients to build secure dApps.
Remix has an in-environment integration with SolidityScan, eliminating any need for manual integration. Smart contracts can be directly imported into the Remix editor (through a new file or an existing file). Users need to compile their code with Remix to ensure that the code is free from any syntax errors. Once compiled, an option named “Run SolidityScan” appears right on the dashboard, which can be used to initiate vulnerability analysis. SolidityScan engine then analyses the code and presents a comprehensive report, with details including Vulnerability Name, Severity, Confidence Level, Description and Remediation. The report also carries a link to SolidityScan website which presents users with specific vulnerabilities, potential mitigation strategies, and best practices for writing smart contracts.
SolidityScan is working on an AI Remediation feature, seamlessly integrated into the SolidityScan workflow. Once a vulnerability is detected, the AI engine analyses the code context and provides code-specific possible solutions. The changes can then be implemented in real-time. The tool has been trained on a large volume of data, to make the coverage comprehensive. This tool is a game changer for developers. By automating the remediation process, it accelerates development cycles, improves code quality, and reduces the likelihood of human error. With AI-generated code suggestions, developers can focus on higher-level logic and design, rather than spending excessive time on bug fixes.
SolidityScan boasts 45+ Integrations and 67+ Partnerships. SolidityScan offers comprehensive support for major blockchain explorers both for their mainnets and testnets, including Ethereum, Ethereum Classic, Arbitrum, Avalanche, Optimism, Polygon, Base, Gnosis, Neon, Rootstock, zkSync, Fuse, Shimmer, Lightlink, Shibarium, and many more. Partnerships include Avalanche Avascan, Remix IDE, Rootstock, Athera; This allows them to build a strong Web3 Security ecosystem for the Web3 natives and new entrants.
SolidityScan stands out as a crucial tool designed to enhance continuous security for Solidity developers. While its capabilities are impressive, it should serve as a complement to, rather than a replacement for, comprehensive manual security audits. For those seeking end-to-end security assurance, CredShields, the innovative company behind SolidityScan, offers a broad spectrum of services. CredShields has an impressive track record. The SolidityScan engine has 239+ vulnerability detectors (offering the largest coverage across competitors). SolidityScan has already been used to secure contracts worth $300Mn+ across 301Mn+ lines of scanned code, resulting in potential savings of $200Mn+.
About CredShields
Established in 2021, CredShields is a Web 3.0 Security organization is building next-gen security tools for Web 3. Launched in March’22, SolidityScan is CredShields’ flagship product, built by a team of renowned security experts with strong backgrounds and notable work in the cybersecurity industry.
Vision and Mission
CredShields is on a mission to transform Web 3.0 security by making it more transparent and accessible for developers and organizations by promoting the use of automation, which allows for cost-effective and continuous security practices. This ultimately strengthens the overall security of Web3 projects and improves their security posture.
Contact
Indranil Roy
[email protected]
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