Ambitious miners started their Web3 exploration in pursuit of gold. Using new ways to pull gold out of the world under more uncertainty, the stakes are higher than ever. Will big risks lead to a bigger payout?
Web3 gold rush with risks
Even though global market instability increased, driven by the international macroeconomic downturn, adventurers still gravitate toward the goldfield. Recently, the Ethereum Merge, a historic upgrade casting aside proof-of-work with promises of massive environmental benefits, has brought opportunities for risk-free arbitrage. One of the hacker teams claimed to have made nearly 10,000 ETHPoW (about $0.2 million) in this arbitrage.
However, it’s just swings and roundabouts. The hacked incident on BNB Token Hub, a cross-chain bridge connecting the BNB Beacon Chain and BNB Chain, resulted in huge losses by issuing 2 million additional BNB (BNB) ($570 million), the entire chain was “paused” before the hacker could make off with their exploits. The hacker only managed to snag around $127 million off the chain.
Regarding both events, OKLink Audit group also provides insights from on-chain data analysis, revealing these mysterious stories. According to an article named “The Crypto World Is on Edge After a String of Hacks” published in The New York Times, more than $2 billion in digital currency has been stolen in hacks this year, shaking faith in the experimental field of decentralized finance, known as DeFi. The vulnerability of the crypto goldfield needs a security guard.
Shield of adventurer — OKLink Audit Tokenscanner
Besides reading analysis articles to learn more about the on-chain world, finding some handy tools for general individual investors is not easy. For non-tech investors, user-friendliness and professionalism are two critical elements if they choose a tool to boost their adventure in Web3. OKLink Audit is doubling the security guarantee in both on-chain data analysis and code analysis. Tokenscanner, which is a risk-token scanner tool, and ArgusEyes are core products of OKLink Audit.
With Tokenscanner, users could quickly check risk analysis, token classifiers and security scores with exclusive scoring dimensions based on the massive database from OKLink Explorer. Since Tokenscanner launched, more than 4.2 million tokens have been scanned, and more than 164,000 risky tokens have been found. As OKLink has supported multichains, Tokenscanner also has the multichain check capability. With multi-dimensional analysis, which concludes with swap analysis, holder analysis, contract analysis and liquidity analysis, users can evaluate a token’s risk with the convenience and intuition of operation.
Put the user first and be professional
When we check the top 10 blockchain security companies list online, there are only a few tools for individuals. OKLink Security Guard Tokenscanner is one of them. It supports the detection of 30+ risk items, such as honey pot and transaction tax, which, when you swap, you must set a very high slippage tolerance on decentralized exchanges (DEXs). Besides the four dimension analysis, liquidity pairs of top DEXs and token governance can also be easily understood after you click search.
Compared with other token scanners, Security Guard Tokenscanner takes the user-first approach. A fast interface access speed empowered by API achieving interface response under one millisecond and explicit interface structure design guarantee the goal of Security Guard: Put the user first and be professional in security based on a massive database. Risk scores can directly help such users have a quick and straightforward knowledge of token risk. The tokens are scored according to 33 detailed rules, and 10,000 samples are subsequently selected for score adjustment.
Onchain data analysis empowers Web3 security
The purpose of a blockchain is to facilitate one shared consensus based on coded rules that we’ve already agreed upon. For every adventurer in Web3, a systemic risk leading to the collapse of the whole world or the loss of trust is something that no one wants to see.
OKLink Audit safely grows consumer access to cryptocurrency with a handy search tool and one clear score, simple-to-solve comprehensive problems in Web3, getting massive data support from the OKLink Multi-Blockchain Explorer. It’s the key to having outstanding on-chain analytics.
Being a security guard is not an easy task. With other services such as smart contract audits provided together, OKLink offers further simplicity and transparency to users of the blockchain risk. OKLink Audit makes you go further into the Web3 dark forest.
As OKLink’s parent company, OKG is one of the earliest blockchain companies founded in China. It has now developed into a conglomerate and a leader in the blockchain industry. Established in 2013, OKG has been committed to blockchain technology’s research, development and commercialization. OKLink has been one of OKG’s subsidiaries dedicated to blockchain data and information services since 2018. Visit the website and Twitter for more information.