Client Spotlight: BitMovio

CertiK | Jul 30, 2019

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CertiK is proud to announce a successful audit of BitMovio, a gamified video entertainment platform.

BitMovio is a blockchain-enabled gamified video entertainment platform with a freemium model. It aims to fundamentally change the video entertainment industry by breaking the norm and replacing the model with a decentralized community-run marketplace. BitMovio transforms how content is monetized, how creators are paid, how fans engage, and how value and attention are awarded.

A cross between Twitch, Netflix and Patreon, BitMovio is a new form of video entertainment platform enabled by blockchain technologies, crypto tokens and in-platform virtual goods. Content creators, fan communities and advertisers can exchange value and attention through a variety of models such as reward ads, microtransactions, subscription, prepayment/crowdfunding and more, with most features available via its open beta web and app platforms.

Smart contracts play a vital role in simplifying content rights and business rules management and economics for trust and transparency among the stakeholders in the ecosystem. To further their project and enhance the security of their smart contract, BitMovio chose to work with CertiK, the leader in blockchain security, to audit their contracts with Formal Verification and ensure correctness.

CertiK is proud to work with BitMovio on such an ambitious, scaling project. With community central to BitMovio, CertiK is proud to offer our security audit to ensure the success and safety of the project at large.

The Audit Process

The auditing was conducted by CertiK’s team of experienced security engineers and consultants, and was conducted utilizing CertiK’s Formal Verification Platform, Static Analysis, and Manual Review.

Overall, the team found BitMovio code to follow good practices. With the delivery of the audit report, CertiK concludes that the contract is not vulnerable to any classically known anti-patterns or security issues.

CertiK would like to congratulate the BitMovio team for passing the rigorous verification process and wishes them luck on their project at large.

About CertiK

CertiK is a blockchain and smart contract verification platform founded by top Formal Verification experts from Yale and Columbia University. Incubated by Binance Labs, Certik has strategic partnerships with the world’s leading crypto exchanges such as Binance, OKEx, and Huobi, as well as protocols such as NEO, ICON, and QuarkChain.

CertiK’s formal verification method works differently than traditional testing approaches: rather than working manually, CertiK mathematically proves blockchain ecosystem and smart contracts are hacker-resistant and bug-free at scale. CertiK has secured over $4B in asset value, auditing several projects across all major protocols, including BNB, Terra, Crypto.com, and TUSD.

To request the audit/verification of your smart contracts, please email audit@certik.org or visit certik.org to submit the request.

Twitter: https://twitter.com/certikorg

Reddit: https://www.reddit.com/r/CertiKOrg/

Telegram: https://t.me/certikorg

LinkedIn: https://www.linkedin.com/company/certik

About BitMovio

BitMovio is a next-generation gamified video entertainment marketplace, connecting forward-thinking content creators and passionate consumers. BitMovio is a cross between Twitch, Netflix and Patreon, powered by blockchain technologies and in-platform virtual currency, which enables content creators, consumers, and financiers to transparently and instantaneously exchange value and attention. Backed by top-tier venture capital firms in Silicon Valley, New York City and Boston, BitMovio is on a mission to disrupt the video entertainment industry’s centralized content distribution and financing model. For more information, visit www.bitmov.io.

Twitter: twitter.com/bitmovio

Facebook: www.facebook.com/bitmovio/

Instagram: www.instagram.com/bitmovio/

Medium: medium.com/@bitmovio

LinkedIn: linkedin.com/company/bitmovio

Telegram: t.me/bitmovio