The Ethereum-centric and redistributed protocols software system firm Consensys has proclaimed the launch of flip token, or “Time-Unit Representative NFTs.” Consensys details that flip tokens can produce a replacement marketplace for tokenized security auditing via Consensys Diligence, the firm’s good contract audit service.
Consensys Diligence to Launch flip Tokens in period
From August fifteenth to the nineteenth, Consensys disclosed a token sale can crop up which will feature the company’s flip token, that stands for “Time-Unit Representative NFTs.” The company’s good contract audit service Consensys Diligence basically are tokenized and have its own value discovery part via the open market.
“TURN is that the initial token of its kind to quantify the vast worth of good contract and blockchain security audits,” Gonçalo reserves, the co-founder of Diligence same during a statement on weekday. “With the flip token, we’re tokenizing labor and serving to deliver on the vision for a safer Web3 that advances the free free enterprise on the blockchain.”
The coming auction can showcase a bunch of eight flip tokens, that square measure ERC721-compatible and that they represent “40 hours of your time during which Associate in Nursing audit will be provided.” Following the sale, flip assets will be sold on secondary markets kind of like different sorts of NFTs, however TURN’s worth relies on the “timeboxed” forty hours of your time.
The Ethereum setup Consensys recently raised $450 million in mid-March and bumped its valuation to $7 billion. Consensys’s suite of product serves voluminous Ethereum users because it manages Metamask, Mycrypto, Infura, Quorum, Truffle, Diligence, and more. reserves believes flip tokens are helpful to the good contract and blockchain auditing business.
“TURN permits customers to buy Associate in Nursing audit while not waiting during a huge queue for six to nine months. this is often the primary step in finding the bottleneck with auditing in our system,” reserves remarked.
TURN tokens can have a awfully niche purpose for people who need audit services and Consensys thinks the assets can leave “optimal value discovery of service engagements and programming processes.” within the world of redistributed finance (defi), auditing code will facilitate avoid expensive errors found in faulty code.
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