Business News Report Technology
April 04, 2024

Flare Network Partners With Hypernative to Protect Its Ecosystem from Cyberthreats Through Proactive Prediction

In Brief

Flare partnered with Hypernative to increase the safety and protection for users, dApps and institutions in its ecosystem.

Flare Network Partners With Hypernative to Protect Its Ecosystem from Cyberthreats Through Proactive Prediction

EVM-based Layer 1 blockchain Flare partnered with the Web3 security firm Hypernative to safeguard its users from zero-day cyber threats by providing them with alerts regarding potential risks to digital assets, vulnerabilities within protocols, and decentralized applications (dApps), among others.  

Hypernative employs proprietary machine learning models to monitor both on-chain and off-chain data sources. This approach enables accurate prediction of cyber, economic, and governance threats before they materialize. These predictions are then linked to automated playbooks, allowing for real-time prevention and mitigation of risks.

The architecture of Hypernative ensures continuous monitoring of diverse activities, encompassing on-chain transactions, governance proceedings, financial operations, and security-related events. Its design enables the proactive detection of numerous risks and potential attacks before they cause significant impact, allowing clients to respond promptly and minimize possible losses.

To date, the platform has identified more than 764,000 risks across 1,443 protocols, all of which undergo continuous monitoring. Additionally, Hypernative has detected over 270 potential exploits, representing a possible cost of $14 billion in damages. Serving some of the largest web3 ecosystems in the industry, the company currently oversees a total value of $37 billion.

In addition to gaining access to the platform and receiving support in configuring their alert settings, Flare users will have visibility into the monitoring and prevention processes. They will receive alerts and instructions as necessary and assistance from Hypernative in the event of an attack.

Flare Implements Embedded Oracles to Enhance Transaction Security And Efficiency 

Flare operates as a blockchain platform optimized for decentralized data acquisition. Equipped with a suite of integrated oracles safeguarded at the network layer, Flare provides developers with secure and cost-effective access to a wide array of price and state data for their dApps. Being an EVM-based platform, it supports the launch and execution of any Solidity-coded applications on the network.

“Flare has been designed with embedded oracles to facilitate high-value transaction scenarios, such as those found in DeFi and AI applications,” said Hugo Philion, co-founder of Flare and CEO of Flare Labs. “Hypernative’s monitoring on Flare will further bolster our defense mechanisms, offering applications and users an additional layer of protection against potential exploits. Our overarching goal is to ensure the utmost security, instilling confidence among institutions, developers, and community members as they interact with decentralized applications on the network.”

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

The DOGE Frenzy: Analysing Dogecoin’s (DOGE) Recent Surge in Value

The cryptocurrency industry is rapidly expanding, and meme coins are preparing for a significant upswing. Dogecoin (DOGE), ...

Know More

The Evolution of AI-Generated Content in the Metaverse

The emergence of generative AI content is one of the most fascinating developments inside the virtual environment ...

Know More
Join Our Innovative Tech Community
Read More
Read more
How EigenLayer’s Free-Market Governance Model Is Changing Ethereum’s Security Landscape
Software Stories and Reviews Technology
How EigenLayer’s Free-Market Governance Model Is Changing Ethereum’s Security Landscape
April 22, 2024
Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
Business News Report Technology
Othentic Raises $4M Funding From Breyer Capital To Advance Development Of Modular Networks In Shared Security Environment
April 22, 2024
Celo Developer cLabs Proposes Launch Of Its Ethereum Layer 2 Solution On Optimism’s OP Stack
News Report Technology
Celo Developer cLabs Proposes Launch Of Its Ethereum Layer 2 Solution On Optimism’s OP Stack
April 22, 2024
ICON Integrates Its Cross-Chain DEX Balanced With Injective, Announces Regular INJ Token Purchases
Business News Report Technology
ICON Integrates Its Cross-Chain DEX Balanced With Injective, Announces Regular INJ Token Purchases
April 22, 2024