CertiK has officially audited the BRC-20 token contracts associated with OKX, which is a key step towards enabling Ordinals on the Bitcoin blockchain.

Blockchain security firm CertiK The audit of OKX's BRC-20 token contracts serves as an important milestone that empowers Ordinals on the Bitcoin blockchain. Globally recognized as a prominent crypto exchange, OKX is showcasing its commitment to Bitcoin and pushing the boundaries in BRC-20 transaction indexing on the network. Ordinals The recent audits, along with others planned for the future, will assist OKX in implementing smooth operations for integrating this cutting-edge token technology. Their roadmap includes the introduction of inscription, which will broaden the array of investment options available to users. Furthermore, they aim to elevate trading capabilities by facilitating transactions for tokens and Bitcoin NFTs.

According to CertiK’s team, the BRC-20 standard differs from ERC-20 tokens in that user balances are not directly stored on the blockchain. Instead, an indexer is necessary to extract JSON data from the inscriptions, which are then processed and stored in an off-chain database.

The team explained, 'The indexer must adhere to the specific guidelines outlined in the BRC-20 documentation. This component was the central focus of our audit conducted with OKX.'

'Our collaboration with OKX is in line with our goal of boosting security and transparency within the blockchain ecosystem. The security audit of OKX's application of the BRC-20 token standard ensures that this new technology is integrated safely and reliably, safeguarding users from potential risks,' added CertiK.

This partnership facilitates innovation within the cryptocurrency sector. Implementing the BRC-20 token standard on OKX's platform will enable a wider variety of transactions, promoting a truly decentralized and free marketplace. Additionally, regular security audits will boost transparency, showcasing OKX's commitment to this crucial principle in the Web3 landscape.

Jason Lau, who serves as the Chief Innovation Officer at OKX, remarked that this development aligns perfectly with community interests while providing dependable, secure, and user-friendly solutions for managing these tokens.

In collaboration with Alibaba Cloud, we're set to offer blockchain security services tailored for web3 projects hosted on the cloud. This means that developers and enterprises leveraging Alibaba Cloud will gain access to CertiK’s array of security tools, including code reviews, risk assessments, and team verification checks. Together, we aim to propel the widespread adoption of blockchain technology by integrating it with cloud computing through Alibaba Cloud's Blockchain as a Service (BaaS) offerings.

Last month, CertiK partnered The OKX wallet now features the capability to view and transfer Bitcoin Ordinals across its multi-chain platform.

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