Flare, a data blockchain, announced a partnership with Hypernative, a renowned institutional-grade Web3 security platform, according to the information shared with Finbold on April 4.
With Hypernative’s advanced platform onboarding, Flare users can now protect themselves against zero-day cyber attacks, receiving early warnings about risks to their digital assets, dApps vulnerabilities, and similar threats.
The need for enhanced cybersecurity in Web3
As Web3 attacks continue to become more common and sophisticated, the industry has become a prime target for malicious actors.
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By joining forces with Hypernative, Flare significantly enhances the safety and security of all ecosystem users.
Hypernative employs state-of-the-art technology to stay in the rapidly evolving Web3 sphere, constantly scanning for weaknesses across assets, protocols, and applications.
To date, the platform has successfully detected over 270 potential exploits, saving around $14 billion worth of assets.
Serving some of the largest Web3 ecosystems in the industry, Hypernative monitors a total value of $37 billion.
The Hypernative architecture
With its unique architecture, Hypernative provides continuous monitoring of various activities, including on-chain transactions, governance processes, financial operations, and security incidents.
This proactive approach allows clients to detect and mitigate risks and attacks before they cause any harm.
With over 764,000 risks detected across 1,443 constantly monitored protocols, Hypernative focuses on delivering critical insights, alerts, and recommended actions while minimizing false positives.
The platform seamlessly integrates across all Web3 platforms, offering application programming interface (API) data, alerts, and customization options to ensure comprehensive security coverage.
This level of security is especially crucial for Web3 institutions engaging in heavy financial activities like decentralized finance (DeFi), which are prime targets for exploitation due to the lucrative opportunities they present.
The importance of the partnership
Hugo Philion, Co-founder of Flare and CEO of Flare Labs, emphasized the importance of Hypernative’s monitoring capabilities for decentralized applications on the network, stating:
Feature quote: “Flare has been architected with enshrined oracles to support high transaction value use cases, including DeFi and AI. Hypernative’s monitoring on Flare will help provide applications and their users with an additional layer of defense against potential exploits. Our aim is to provide the highest level of security possible, so institutions, builders, and community members have the confidence to engage with decentralized applications on the network.”
— Hugo Philion, Co-founder of Flare and CEO of Flare Labs
As Web3 smart contracts become increasingly complex, the need for advanced security measures becomes paramount.
The confidence in Hypernative
Hypernative’s tested tools, protecting some of the most advanced blockchain platforms, will play a vital role in safeguarding the over 290 projects built on Flare.
In addition to gaining access to the platform, Flare projects will benefit from real-time monitoring and proactive warnings provided by Hypernative.
In the event of an attack, they will also receive support and guidance from the Hypernative team to minimize potential damage.
