Easy Fix for Ethereum Contracts With ZeppelinOS Platform
Solution to avoid Ethereum smart contract errors on the blockchain
On 25th May 2018, the startup Smart Contract Solutions released the ZeppelinOS software platform to provide easy fixes for Ethereum smart contracts on the blockchain. A team of expert smart contracts developers worked on this project since 2016 to make it a success. The ZeppelinOS software platform launched on the Ethereum blockchain providing a set of libraries and tools for smart contract applications.
The founder and CEO of Zeppelin Solutions, Demian Brener stated that the aim of the platform is to use a custom digital currency with the incentive of motivating developers to make continuous improvements to the platform on top of the existing code base. Thus, it will help create a standard system for other developers to work with, supporting the managing and operating of smart contract applications.
According to Smart Contract Solutions, the startup believes nearly “hundreds of millions of dollars” at risk due to vulnerabilities present in smart contracts. These vulnerabilities were in a fixable state but not attended to because of the relatively high costs for the fixes.
Use of ZEP tokens on the ZeppelinOS platform
The startup company plans to rectify the problem using ZEP tokens to developers on the platform who provide proposed solutions for fixes and upgrades to library. Meanwhile, rest of the users with tokens are able to provide assistance for other kinds of proposed solutions.
The mainnet launch for the ZeppelinOS blockchain occurred only last Friday, and there are already several firms involved in testing or have planned testing on the ZeppelinOS platform. Storj, TrueBit, OB1 and Protocol are some of the known startups which have such plans for carrying out test transactions.
OpenBazaar CEO, Brian Hoffman stated that his firm is in favor of the platform. Even though the firm has not tried to use it in an official manner, he stated that they are looking towards possibilities of using the platform in the future;
They have proven to be an industry leading smart contract auditor and security focused organization and we hope to leverage their expertise and ZeppelinOS for future work on the OpenBazaar token.