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As hacking incidents continue to increase in the cryptocurrency sector, projects are still trying to take precautions against them.
At this point, the latest move came from Solana. Accordingly, the Solana Foundation launched its new initiatives aimed at ecosystem security.
The Solana (SOL) Foundation has partnered with Asymmetric Research to launch two new initiatives, STRIDE and SIRN, to strengthen DeFi security.
“The Solana Foundation has a long history of allocating resources to ensure the provision of security services and tools to the ecosystem, and today’s announcement further reinforces that commitment.”
According to the official statement, STRIDE is a security program that assesses and monitors the security level of Solana-based projects, and also provides intervention capabilities in the event of an incident.
Stride evaluates projects based on a total of eight criteria: “program security, governance and access control, oracle and dependency risk, infrastructure security, supply chain security, operational security, monitoring and incident response, and log management and forensic analysis.”
The Solana Foundation added that the evaluation results would be transparently communicated to users and investors regarding the protocol’s security level.
SIRN is a network of professional security firms established to provide immediate response to security incidents.
This measure was taken following a recent major cyberattack. As is known, Drift Protocol, a Solana-based derivatives trading protocol, suffered approximately $280 million in losses due to an attack carried out by an organization believed to be linked to North Korea.
*This is not investment advice.