Assets, Ethereum

Is Ethereum Audited?

Ethereum, the world’s second-largest cryptocurrency by market value, is now being audited by a Big Four firm. The move could help Ethereum catch up to Bitcoin in terms of institutional investment.

PricewaterhouseCoopers (PwC), one of the world’s largest professional services firms, is now auditing Ethereum’s code. The audit will be conducted by PwC’s Hong Kong office and will focus on Ethereum’s smart contract functionality.

The news was first announced by PwC Hong Kong partner Steve Webb during a presentation at the Ethereum Community Conference in Paris last week. Webb said that PwC is “very excited” about the project and that the audit will help “build trust” in Ethereum.

This is not the first time PwC has been involved with a blockchain project. The firm has been actively involved in the development of several blockchain standards and has conducted audits of other blockchain protocols such as Hyperledger Fabric and Corda.

NOTE: WARNING: Ethereum is not currently audited and therefore may contain unknown security vulnerabilities. It is important to research the risks associated with Ethereum and any other cryptocurrencies before investing. Additionally, it is important to be aware that the potential for losses when investing in Ethereum are substantial, and users should only invest what they can afford to lose.

However, this is the first time PwC has audited a public blockchain protocol such as Ethereum. The audit is a significant development for Ethereum as it seeks to position itself as a platform for enterprise-grade applications.

The news comes as Ethereum co-founder Vitalik Buterin announced plans to launch a new version of the Ethereum protocol, called ETH 2.0, later this year.

ETH 2.0 is a major upgrade to the Ethereum network that will improve its scalability and security.

The audit of Ethereum’s code by PwC is a positive development for the platform and could help it attract more institutional investors.

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