The TURN token from ConsenSys will allow security audits to be conducted by those who offer the high
ConsenSys is going to tokenize smart contracts and security audit services through the upcoming auction of eight TURN tokens with a limited validity period. The company claims that in this way it creates an open market for a sought-after service.
A blockchain software company focused on Ethereum has developed a proposal through its smart contract audit service ConsenSys Diligence. According to the developers, NFT, or Time-Unit (TURN), will create an open market for security audit services that are in great demand in the growing blockchain and cryptocurrency industry.
The firm touts TURN as the first non-interchangeable token (NFT) specifically created for smart contract security audit services in the industry.
"In fact, it symbolizes the labor that provides these audit services and allows the open market to evaluate them accordingly," the report says.
TURN tokens are compatible with ERC 721 and represent 40 hours of audit for holders. They can be bought and sold on secondary markets, allowing new users to determine the cost of these services depending on the need.
Co-founder of ConsenSys DiligenceGonzalo Sa said that the decision was primarily caused by the difficulties of meeting the requirements for manual code verification in the Ethereum ecosystem. As a result, companies are lining up in six-month waiting lists for an audit of their systems. According to Sa, the planning and pricing of audit slots was also an area requiring innovation:
"With TURN, we aim to present an open market for buyers and sellers of security audit services and possibly other time-limited services. In general, TURN is designed as a token representing a set of services with a time frame. Nothing in it is intended for the security services as such."
ConsenSys is going to tokenize smart contracts and security audit services through the upcoming auction of eight TURN tokens with a limited validity period.
ConsenSys Diligence will offer eight weeks of services tokenized in eight NFTs, each consisting of five business days. Auctions will start at 100,000 DAI ($99,995) and have a deadline by which to redeem the NFT.
https://coin-signal.com/ethereum/the-turn-token-from-consensys-will-allow-security-audits-to-be-conducted-by-those-who-offer-the-highest-price/
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