
## Introduction

For any business, the security of its assets and infrastructure is, and always should be its number one priority. With the introduction of Web3, cybersecurity is more crucial than ever for businesses that want to utilize it and succeed. In this article, we will go over 10 cybersecurity tips and practices that can help you keep your business safe while navigating the blockchain ecosystem.

![What is Web 3.0?](1.png)

## What is Web3.0?

For us to better understand Web3.0, we need to take a look at the past. Web 1.0 and Web 2.0 are terms used to describe different eras in the history of the World Wide Web. Web 1.0 refers roughly to the period from 1991 to 2004, where most sites consisted of static pages, and most users were consumers, not producers, of content. Web 2.0 is based on the idea of “the web as platform” and centers on user-created content uploaded to forums, social media and networking services, blogs, and wikis, among other services. Web 2.0 is generally considered to have begun around 2004 and continues to the current day.

Web3 is the term used to describe a web with more decentralization and more possibilities, based on blockchain technology. This may mean that users can truly own their digital identities, personal data, and digital assets. The term was coined in 2014 by Ethereum co-founder Gavin Wood. In 2021, cryptocurrency enthusiasts, large technology companies, and venture capital firms started using the term “Web3” to describe how this new decentralized internet could potentially be set up. The most important aspect of Web3.0 is decentralization. Even though cryptocurrency is currently in the spotlight of the decentralization movement, it is a widespread belief that decentralization is the next step for the internet that will affect businesses across multiple (if not all) industries.

![Web3.0 and your Business: How secure is it?](2.png)

## How secure is Web3.0?

Web3.0 is based on blockchain technology. While its biggest strength is that it is decentralized, it also has some vulnerabilities. Most of them are caused by smart contract weak points, which can affect data integrity if exploited in the right way. Businesses must ensure they take the appropriate steps to secure their systems as well as avoid their vulnerabilities.

Cybercrime is ranked as one of the biggest threats that businesses have to face nowadays. According to recent reports, there is a cyber-attack happening every 39 seconds. That being said, securing your business against cyber attacks is neither easy nor quick. It is however worth every second or penny spent towards that end. Cutting expenses is not something that you can afford to do when it comes to security. You should keep in mind that a secure infrastructure is the cornerstone of any successful business.

## The 10 best cybersecurity tips to keep your business safe

The sooner you start getting your cyber security system(s) in place, the better it is. Starting further down the road, though viable, is not recommended. It can be difficult to apply changes to systems or educate a large number of people later on.

The target of a cyber attack is not always financial assets. If your business is processing and/or storing sensitive information, a potential hack could have catastrophic consequences. 
Your clients will lose faith in you plus breaching data protection and GDPR rules can result in big fines for your business.

Let’s examine the 10 best cybersecurity tips and practices that you can do to better safeguard your business:

 1. **Evaluate Your Cybersecurity Threat Profile**
 
 This is the first and simplest step when we’re talking about a business. What is your business’ category? If you fell victim to a hacker, what do you stand to lose, sensitive information or financial assets? That way, you can have a better understanding of what kind of measures you need to take to up your security.

 2. **Educate your employees**
 
 Employees are one of the most common weak points for hackers and cybercriminals to get access to your data. [Latest reports](https://www.cybertalk.org/2022/03/30/top-15-phishing-attack-statistics-and-they-might-scare-you/) show that 65% of cyber attackers have leveraged [phishing attacks](https://www.cyberscope.io/blog/what-is-phishing-in-crypto-and-how-you-can-avoid-it), like emails as their primary method. 
 
To the untrained eye, phishing emails containing links can appear genuine, and it’s easy to get tricked. As a result, your personnel can fall into those traps, making cybersecurity awareness essential. It is important to ensure that your staff is familiar with current cyber assaults and how they are happening. That way you have a better chance of preventing human error.

 3. **Keep Software Up To Date**
 
 Another common vulnerability is outdated security or operating software. Computer software often gets security updates that patch the latest vulnerabilities. This makes it more difficult for attackers to take advantage of them. The same applies to security software like firewalls or antivirus programs.
 
You can automate this process by investing in an update management system. These keep track of all software and system upgrades, ensuring that your devices are always up-to-date.

 4. **Use A VPN**
 
 VPN stands for [Virtual Private Network](https://en.wikipedia.org/wiki/Virtual_private_network). VPNs are essential for businesses that don’t have the resources to invest in their internal network, or for team members working remotely. In the era of digital nomads, employees that work from home are more likely to have weaker cyber security than those working from their office. 
 
With a VPN, each employee can easily turn it on whenever they access sensitive information, to hide their IPs. This way, they can help prevent breaches in the network of the business.

 5. **Use Strong Passwords And A Password Management Tool**
 
 This one might sound like a no-brainer, but a big majority of people still use weak or common passwords to this day. Using combinations such as a sequence of numbers, letters, first/last names, or birthdays should always be avoided. For a password to be considered a strong one, it needs to include letters (both capital and lowercase), numbers, and symbols. Sequences are always advised to be avoided as it makes it easier for hackers to guess the right combination. 
 
Since there are many platforms or websites that an employee must have an account for, having a password manager is the way to go. It can safely and securely store your different credentials and thus eliminate human error.

 6. **Backup Your Data Regularly**
 
 Ransomware is one of the most common cyber attacks. They are still effective nowadays since most people and small businesses do not back up their data (either regularly or at all).
 
It can be prevented by either using a secure cloud service to back up your data or using a separate physical storage location. This can save you from having to pay hackers to get access to your data and gives you flexibility in case of faulty hardware.

 7. **Use Multi-factor Authentication For Logins And Approvals**
 
 The majority of websites and online platforms offer two or multi-factor authentication for both logins and approvals. By making use of them, even if your credentials get compromised, hackers cannot access your account. The same applies to making any changes/transactions since they will not have access to the authentication code. 
 
The most widespread form of this is using authentication software like Google Authenticator or Authy.

 8. **Keep Track of Who Has Access to Your Systems**
 
 Having employees means giving them access to the system(s) that your business uses. This should always be monitored, as you don’t want to give access to the information you don’t want to be public. The same course of action applies not only to your employees but also to your clients.

 9. **Use a Firewall**
 
 Antivirus and firewall software are your best friends when it comes to online cybersecurity. This way your devices are both protected against any incoming suspicious traffic and secure from viruses.

 10. **Get Your Smart Contracts Audited**
 
 If your business makes use of [smart contracts](https://www.cyberscope.io/blog/smart-contract-audits-a-complete-guide), you must invest in an audit. It can help with:

* finding any security holes or weak points within the code
* potential improvements that can help streamline your business in a better and more efficient way.

![Investing in a Web3.0 Cybersecurity Consultant](3.png)

## Invest in a Web3.0 Cybersecurity Consultant

Hiring a Web3.0 cybersecurity consultant is essential to your success in navigating this space. Since Web3.0 can be very confusing, especially if you have no experience, relying on a cybersecurity consultant is the right way to go. An experienced company can help you secure your business by providing crucial insight and guiding you on the measures you need to take.

## Conclusion

It can feel overwhelming trying to find out how to secure your organization against cybercriminals and attacks. There is a lot of information available online and it can be hard to identify the right things to do, as sometimes you can see contradicting info. However, by reading this article you can better understand which aspects you should focus on and research. Having a smart contract as part of your business can help you automate many complicated and/or time-consuming tasks. That being said, consulting firms like Cyberscope can help you increase your security and make Web3.0 safer for you and your business.


With the introduction of Web3, cybersecurity is more crucial than ever for businesses that want to utilize it and succeed. In this article, we will go over 10 cybersecurity tips and practices that can help you keep your business safe while navigating the blockchain ecosystem.

10 Cybersecurity Tips and Best Practices for Your Web3 Business


[BitCourier](https://bitcourier.co.uk/) is a publishing platform and the first UK-focused crypto community. Besides tracking the prices, BitCourier is dedicated to observing ongoing regulations in the United Kingdom and uniting crypto enthusiasts. Their guides and reviews published on their website are also powerful assets to those who are new to the cryptocurrency market.

CEO & Co-Founder of [Cyberscope.io](https://www.cyberscope.io/), **Thanos Tsavlis** takes part in a discussion about the background and the visions of the company and how it keeps evolving as one of the Leading Auditing Firms in space.

Read the full interview [here](https://bitcourier.co.uk/news/cyberscope-interview)


CEO & Co-Founder of Cyberscope.io, Thanos Tsavlis takes part in a discussion about the background and the visions of the company and how it keeps evolving as one of the Leading Auditing Firms in space.

Thanos, CEO & Co-Founder of Cyberscope.io, interviewed by BitCourier


## Introduction

[Smart Contracts](https://www.cyberscope.io/blog/smart-contract-audits-a-complete-guide) continue to gain recognition and even venture capital funding. In fact, recent studies have shown that 61% of enterprises claimed to have plans for integrating blockchain technology into their core business procedures. However, a major problem to the adoption of Smart Contracts is wrapped around trust and lack of regulatory frameworks. There are few, if any, applicable laws to resolve disputes arising from automated business transactions.

With the increasing importance of smart contract security, audits have become one of the most common ways to secure blockchains. In the below article, we will analyze how much time takes for an audit to be completed and what it may cost.

## What is a Smart Contract Audit and Why is it Important?

Smart contracts are self-executing contracts with the terms of an agreement between buyer and seller being directly written into lines of code. The code is stored, distributed, and replicated on a blockchain network. Smart contracts permit trusted transactions and agreements to be carried out among disparate, anonymous parties without the need for a central authority, legal system, or external enforcement mechanism. The blockchain can be used to trace transactions and make them transparent for all parties involved.

A [crypto security audit](https://www.cyberscope.io/blog/how-to-do-a-basic-crypto-security-audit-to-your-smart-contract) focuses on a smart contract’s source code to ensure that it is functioning as intended. Auditors use automated checks and manual reviews of the code to get an overall picture of how the contract is operating and its purpose.

The audit report is important for developers as it allows them to check for vulnerabilities in their code, which could be exploited by external actors. In that way, they can ensure that the contract cannot behave in ways that it was not meant to. It can also offer the investors and users of the contract the trust and reassurance they need to interact with the contract safely.

## How Many Types of Smart Contracts are There?

Before we analyze the factors that may affect the cost and the timeframe of an audit, let’s see the 3 types of contracts that exist out there:

**1. Smart Legal Contract**

Smart contracts are legal agreements that are executed automatically. They have the same requirements as traditional contracts, such as mutual assent, expressed by a valid offer and acceptance; adequate consideration; capacity; and legality. When set up properly, smart contracts are legally enforceable and require parties to fulfill their obligations. If a party fails to fulfill its obligations, the contract can trigger automatic legal action against the party in breach.

**2. Decentralized Autonomous Organizations**

[DAO](https://www.cyberscope.io/blog/what-is-a-dao-and-how-to-create-one) stands for Decentralized Autonomous Organization and describes a community that exists on the blockchain. This community is defined by a set of agreed-upon rules coded as smart contracts, which are enforced by all participants. Each participant’s actions are subject to these rules, and the task of enforcing them is shared among all participants in the network. The rules themselves are made up of many smart contracts that work together to keep track of activities in the DAO.

![Decentralized Autonomous Organizations](1.png)

**3. Application Logic Contracts**

Application logic contracts (ALCs) are a crucial component of multi-functional smart contracts. They enable communication across different devices and allow for the merging of IoT technology with blockchain technology.

Smart contracts possess all the qualities necessary to carry out a transaction with a high degree of precision, safety, and efficiency. Because smart contracts are written in code, however, it is not easy for everyone to create one from the scratch without having a background in computer programming.

## How Much Time Does it Take For an Audit to be Completed?

As you can already tell from the various types of smart contracts out there, the timeframe that an audit needs to be completed depends on many parameters. Let’s discuss the more crucial ones below:

**Size**

The first and most important factor to consider for an audit is the project’s size. For instance, if you want a simple contract of ERC20 or BEP20 tokens to get audited, then you can get the audit report just within 48 hours. However, if the token is part of a Dapp, it won’t be possible to examine the code within the same timeframe. The audit process can take up to a couple of weeks to complete it. The type of contract also plays an important role in determining how quickly your company can expect its smart contract audit results. Advanced ERC20 contracts have more features than basic ones and therefore take longer to audit than basic ones.

**Complexity**

When determining the complexity of your project, consider how much time will be required for auditors to complete their work. The more functions and custom code a contract includes the more time is needed for the auditors to analyze it and run all the tests. Furthermore, the more external files it may use, the most complicated the line-by-line checks will be.

![The size and the complexity of the contract are important factors](2.png)

**Audit Type**

The audit types are usually divided into 2 main categories: the **Manual** and the **Automatic** Audit

**Manual audits** entail an examination of lines of code for potential vulnerabilities and programming faults. They also ensure that smart contracts are adhering to their intrinsic business logic, as well as identifying edge cases and optimizing code for gas use. Unit tests are also included as part of the manual audit process of a smart contract.

**Automated auditing** is a method of scanning code for defects using [audit tools](https://www.cyberscope.io/blog/free-smart-contract-audit-tools-for-investors). It guarantees that all aspects of smart contracts are covered, leaving no room for human mistakes. The automated audit may take up to one day for ERC20/BEP20 contracts.

## What is The Cost of a Smart Contract Audit?

Companies that provide smart contract audit services charge from $1,000 to $15,000 on average. However, the price can be even higher in some cases. As you can understand, the expenses of development, deployment and technical support for smart contracts can become prohibitively high. Nevertheless, smart contract auditing is always recommended, as even a single bug in code may result in even higher costs, eventually.

## Conclusion

We hope that these insights will give you a good idea of what to expect when performing a smart contract audit. If you need a smart contract audit quote for your smart contract, feel free to send us a message at: contract@cyberscope.io


Smart Contracts continue to gain recognition and even venture capital funding. With the increasing importance of smart contract security, audits have become one of the most common ways to secure blockchains. In the below article, we will analyze how much time takes for an audit to be completed and what it may cost.

How Much Does it Cost to Audit a Smart Contract?


## Introduction to The Partnership

Cyberscope is thrilled to announce its partnership with the [GeckoTerminal](https://www.geckoterminal.com/) team. The users are now able to use [Cyberscan](https://www.cyberscope.io/cyberscan) in the platform of GeckoTerminal to analyze smart contracts on multiple chains. This collaboration will be a stepping stone in the vision of Cyberscope to make Web3.0 a safer place for everyone.

## About GeckoTerminal

Booby Ong, co-founder, and chief operating officer of [CoinGecko](https://www.coingecko.com/), introduced GeckoTerminal to the cryptocurrency market after he founded CoinGecko in 2014. It was initially created as a tool for internal use.

Due to the increasing interest of users to follow the price charts, the Coingecko team decided to make the platform public to the audience. It quickly evolved and started tracking as many EVM-compatible chains and DEXs as possible. The charting application of the platform now supports more than 20 EVM chains and over 100 Automated Market Makers. Another key element of GeckoTerminal is that it lets you follow all the ERC-20 fungible tokens that are in circulation.

## About Cyberscan

[Cyberscan](https://www.cyberscope.io/cyberscan) is a convenient and free software that helps investors quickly gain insights into any given smart contract. The software will check for known code vulnerabilities and will then produce an instant report for the users to evaluate.

The tool is very simple and easy to use. All you need to do is paste the smart contract address to the related field, choose the blockchain network from the dropdown, and press Search. Cyberscan will run a smart contract analysis and will generate a full report in only a few seconds. The report will also include key indicators like if the contract’s ownership is renounced, if the contract is a proxy and various others. Last but not least, you can see the similarity between the code of your contract versus popular forks. This will help you understand if it’s minted from a specific platform or how unique it is.

Cyberscan has been used by thousands of investors worldwide and has helped them with their investment decisions.

## About Cyberscope x GeckoTerminal Partnership

Cyberscope’s partnership with GeckoTerminal will allow retail investors to get instant access to smart contracts’ information at the click of a button. GeckoTerminal supports more than 1 million cryptocurrency tokens on its platform; which means that its users will now be able to have a full analysis report that will include all the potential vulnerabilities of these. This will allow them to make more informed decisions before investing in newly listed tokens.

![](1.png)

## Closing Thoughts

Cyberscope will continue to innovate and offer more tools to retail investors and developers in order to make Web3.0 a safer place. We recently released [Safescan](https://www.cyberscope.io/safescan) in public beta, which allows you to scan any wallet and see if it was involved in any risky transactions. Cyberscope is on an everlasting mission to build a safer web3.0 for everyone and will continue to foster new partnerships and products in order to do so.


Cyberscope is thrilled to announce its partnership with the GeckoTerminal

Cyberscope Partners with GeckoTerminal


## Introduction to the partnership

Cyberscope is proud to announce its strategic partnership with the Polygon DAO team. Through this partnership we aim to provide our top quality audit services to exciting new projects that are utilizing Polygon DAO to build their infrastructure.

## What is the Polygon chain and how important is it?

Polygon is a [L2 chain](https://www.cyberscope.io/blog/what-are-layer-1-and-layer-2-in-blockchains) that is built on Ethereum and is greatly improving its [scalability](https://www.altcoinbuzz.io/top-article/the-latest-comparison-of-polygon-vs-ethereum/). With more than 19K No. of dapps, 130M Unique users, 3M Daily transactions and 3.4B total transactions since inception it is quickly becoming one of the most popular blockchains to build upon.

In contrast to the high transaction fees and slow completion speed of Ethereum, Polygon is capable of handling up to 65,000 transactions per second, which is significantly more than Ethereum's 17 transactions per second. This means that users can pay very small fees (pennies) for quick and easy transactions.

Compared with Ethereum's average transaction fee of $15, Polygon is a much better choice when it comes to cost and speed. That is why, many developers choose it as a blockchain for their ethereum compatible smart contracts and dapps.

## What is the Polygon Village programme?

The [Polygon Village](https://village.polygon.community/) program acts as an incubator for projects that have a strong desire to grow within the Polygon ecosystem and have been selected by the Polygon DAO team.

Their aim is to onboard prominent projects and provide them with grants and vouchers. They believe that all projects should have equal opportunities, regardless of whether they build for DeFi, NFTs, DAOs, etc and thus try to facilitate them with the means to grow.

To that end, they are partnering across all domains (grants, hosting, infra support, audit service, listing, liquidity support etc) with top tiered dapps and the best web3 service providers.

## The effects of this partnership for Cyberscope

Cyberscope acts as a voucher partner for the smart contract audits of the projects that are part of the Polygon Village program. Its team consists of auditors that are highly experienced in Polygon smart contract audits so they are aiming to deliver their top quality services to these projects, to help them not only secure but also optimize their smart contracts.

What makes Cyberscope stand out in the cyber-security space, is its intricate and detailed smart contract audit methodology. While other providers rely on automated checks for their audit reports, Cyberscope is utilizing manual line-by-line checks, static analysis, unit tests, edge-case business logic, performance improvements and inspect for security vulnerabilities.

In the end, they are able to provide a detailed report that contains all findings, both security and performance related, as well as recommended actions.

## Closing thoughts

Cyberscope continues to grows its partnerships across the crypto industry. The quality and depth of its audits are now recognised by top accelerator programs and launchpads across the world. They are consistently delivering excellent smart contract audits to all of its clients, no matter how big or small. They aim to secure Web 3.0 for everyone and being selected as a partner from the Polygon DAO team shows their standing as one of the top leading auditing companies in the space.

For more information on Polygon DAO and the Polygon Village Program, visit this link: [https://linktr.ee/polygon_dao](https://linktr.ee/polygon_dao)


Cyberscope is proud to announce its strategic partnership with the Polygon DAO team. Through this partnership we aim to provide our top quality audit services to exciting new projects that are utilizing Polygon DAO to build their infrastructure.

Cyberscope Becomes An Audit Voucher Partner Of The Polygon Village Program


Cyberscope was one of the Sponsors of Blockchain Expo Europe 2022, which took place in Amsterdam. Being one of the leading crypto exhibitions globally, it attracted [more than 5000+ attendees, with more than 150+ speakers](https://blockchain-expo.com/europe/). With 56% of the attendees being Director Level and above, it is the best destination to further expand on your Blockchain knowledge as well as forge valuable connections.

We were able to explore the latest innovations within blockchain ecosystems as well as grow our existing partnerships in the space. This further cements our position as one of the top cybersecurity companies and builds on our commitment to make Web3 secure for everyone.


Cyberscope was one of the Sponsors of Blockchain Expo Europe 2022, which took place in Amsterdam. Being one of the leading crypto exhibitions globally, it attracted more than 5000+ attendees, with more than 150+ speakers.

Blockchain Expo 2022 Amsterdam


Cyberscope has attended Coinfest Asia 2022 in Bali. Coinfest is not a standard crypto related conference. With more than [2000+ attendees from 52 countries](https://coinfest.asia/), it provides an excellent platform for participants to discuss and share opinions and views revolving around web3. It also gives the opportunity to form relationships with other industry players as well as share opportunities around crypto, blockchain, NFT and Metaverse.

It was our pleasure to be a part of Coinfest Asia, meet with existing and new partners and trade thoughts on the future of DeFi and Security in Web3.


Cyberscope has attended Coinfest Asia 2022 in Bali. Coinfest is not a standard crypto related conference.

Coinfest Asia 2022 Bali


Cryptonized is a youtube podcast, analyzing and providing opinions on altcoints, NFTs and crypto. With more than [1.8 million views](https://www.youtube.com/c/Fanaticsmedia/about), it is one of the most successful podcasts in its category. Cyberscope’s COO, Michalis Michelis, joined the podcast’s host, Mark Fidelman, to discuss the process of launching a token, blockchain security and how investors can identify scams.

Our goal is to make Web3 safer for everyone and there is no one better than our company’s COO to help educate investors and crypto enthusiasts [on staying safe](https://www.youtube.com/watch?v=xQbBnLsPgDo&t=507s&ab_channel=Cryptonized) while navigating the crypto space.


Cyberscope’s COO, Michalis Michelis, joined the podcast’s host, Mark Fidelman, to discuss the process of launching a token, blockchain security and how investors can identify scams.

Cryptonized - How to Launch a Token, Blockchain Security and How to find a Scam


Download [Securing your Blockchain Project](https://drive.google.com/file/d/1k-5xUuKTdi9Ojx5aR5r01osMg3yRI7c7/view)


In this whitepaper we covered all the aspects that you need to be aware of about smart contract security audits.

Smart Contract Audit


## Introduction

[Dogechain](https://dogechain.dog/) was an issue for discussion long before it was even released, partially carried away by the enormous popularity of the meme-coin Dogecoin. In the last two months, it managed to reach new highs with 244k unique [wallets ](https://www.cyberscope.io/blog/10-tips-cryptowallet)and a cumulative transaction count of 50 million. In this guide, we will discuss what Dogechain is, how it works and what is its connection with Dogecoin.

## What is Dogechain?

Dogechain is an unofficial [Layer 2 solution](https://www.cyberscope.io/blog/what-are-layer-1-and-layer-2-in-blockchains) for the Dogecoin project that aims to bridge over Dogecoin and allow users to access the growing decentralized finance (DeFi) ecosystem. It runs on the Polygon network and is EVM-compatible, making it a safe and trustworthy way to get involved in DeFi.

It is an independent blockchain that is dedicated to empowering Dogecoin holders. Using a [bridge](https://www.cyberscope.io/blog/what-is-a-crypto-bridge), Dogecoin holders can access blockchain games, NFTs and plenty of other DeFi apps. This allows them to use their currency in a number of different ways and reach new opportunities for their investments.

## What is Dogecoin and how is it related to Dogechain?

**Dogecoin (DOGE) **is a cryptocurrency that has been gaining popularity around the world. The name comes from the Shiba Inu dog breed, which is featured on the coin’s logo. Dogecoin was originally created as a joke/meme currency. Still, despite its origins, it has grown to become one of the most popular cryptocurrencies in the world with its value increasing by over 1000% in the last years. This growth has been driven by a variety of factors, including social media buzz and endorsement from celebrities.

![Dogechain vs Dogecoin](1.png)

On the other hand, Dogechain is an independent project that seeks to improve Dogecoin’s functionality by providing more utility for the currency. While not formally affiliated with Dogecoin, Dogechain shares many of the same goals as its cryptocurrency counterpart and is set to have a big impact on the Dogecoin token.

Investors are still paying attention to Dogechain, even though it’s been confirmed that it’s not an official Layer 2 network for Dogecoin. The value of the project’s native cryptocurrency, DC token, has increased six-fold in the first five days since its launch. This shows that investors are interested in the development of Dogechain, regardless of who owns it.

On top of that, before DC token even launched, rumors that Dogechain was a Layer 2 network for Dogecoin caused the price of the latter to jump by over 10% in a day. Since then, the price has gone back down, but the potential for future growth is still around.

## How does Dogechain work?

Dogechain is a blockchain protocol compatible with the Ethereum Virtual Machine (EVM). It uses the Polygon Edge framework to provide scalability and flexibility for building decentralized applications. Furthermore, it retains some of the properties of its parent protocol, such as security and immutability.

Using the parent protocol offers some advantages. For example, it is EVM-compatible, which means developers can create ERC-20 tokens on the blockchain. Additionally, the framework enables Dogechain to use the PoS (Proof of Stake) mechanism, which is faster and more scalable than PoW (Proof of Work). Moreover, the smart contract capability of the protocol allows token holders to pay the gas fee with DOGE.

Dogechain also uses the Ethereum Virtual Machine (EVM) to power its operations. This makes it possible for developers to quickly build and deploy solutions on the Dogechain platform. The architecture is unique among blockchains. While most other blockchains use the “security as a feature” function of Polygon, Dogechain relies on its own sets of validators to achieve security. Likewise, the mainchain contract and checkpoint mechanism features of [Polygon](https://www.cyberscope.io/polygon-smart-contract-audit) are also deactivated.

It is also worth mentioning that the cross-chain protocol that Dogechain uses, allows users to exchange DOGE with a wDOGE token on a 1:1 ratio. When a DOGE token is pegged, the Dogechain mints a corresponding wDOGE token. Similarly, when a wDOGE token is destroyed, a DOGE token can be withdrawn from the Dogecoin blockchain.

![Dogechain and Polygon Edge](2.png)

## Conclusion

The combination of the Polygon Edge framework and EVM provides Dogechain with the ability to enhance Dogecoin in ways that would not be possible before. Dogecoin needed a scale and Dogechain offers more than a Layer 2 solution. It offers a unique and powerful experience for Dogecoin holders as it gives them the opportunity to exploit their DOGE coins in quite a few different ways.


Dogechain is an unofficial Layer 2 solution for the Dogecoin project that aims to bridge over Dogecoin and allow users to access the growing decentralized finance (DeFi) ecosystem. It runs on the Polygon network and is EVM-compatible, making it a safe and trustworthy way to get involved in DeFi.

Resources

10 Cybersecurity Tips and Best Practices for Your Web3 Business

Thanos, CEO & Co-Founder of Cyberscope.io, interviewed by BitCourier

How Much Does it Cost to Audit a Smart Contract?

Cyberscope Partners with GeckoTerminal

Cyberscope Becomes An Audit Voucher Partner Of The Polygon Village Program

Blockchain Expo 2022 Amsterdam

Coinfest Asia 2022 Bali

Cryptonized - How to Launch a Token, Blockchain Security and How to find a Scam

Smart Contract Audit

What Is Dogechain — A Beginner’s Guide

Recent Posts

10 Cybersecurity Tips and Best Practices for Your Web3 Business

Thanos, CEO & Co-Founder of Cyberscope.io, interviewed by BitCourier

How Much Does it Cost to Audit a Smart Contract?

Cyberscope Partners with GeckoTerminal

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