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ABCDE: Why did we lead the investment in MetaTrust, a Web3 security solution?

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MetaTrust has built the world's first comprehensive Web3 security solution, covering the entire software development lifecycle.

Original Title: "
ABCDE: Why We Led the Investment in MetaTrust?"

MetaTrust has built the world's first comprehensive Web3 security solution, covering the entire software development lifecycle (SDLC). Founded by a globally renowned research team from Nanyang Technological University, it combines the latest academic achievements and best security engineering practices (such as the world's first Solidity formal semantics for smart contracts and the first source code engine-based symbolic execution technology).

ABCDE led the seed round investment in MetaTrust, followed by a series of institutional investments in the seed and strategic rounds, including M23, Redpoint China Ventures, Longhash, Hash Global, SNZ, Yunqi Capital, GGV, Fellows Fund, and Aimtop Ventures.

1. The security dilemma facing Web3

Web3 security technology is developing rapidly, but the transparency and openness of blockchain code still lead to frequent hacking incidents. From 2021 to now, the losses caused by security issues in Web3 have exceeded 10 billion US dollars. Its security dilemma mainly exists in a core vulnerability:

Security issues lag behind - during the development process, security issues are often not considered, and most companies rely solely on one-time security audits before or after deployment.

To address this vulnerability, MetaTrust provides secure software development services throughout the entire software development lifecycle (SDLC) with a fully automated DevSecOps solution.

2. Security Lag vs Security Shift

Web3's current security practice is to first build and then implement a one-time security audit as protection.

But, what if security audits could be conducted continuously and in real-time during the development process?

The situation will be much better and security issues will be discovered much earlier, at least without having to start over after development is completed. This is the concept of shifting security to the left. We believe that shifting security to the left and providing full lifecycle security services will be the future of Web3 security.

So how can we achieve secure left shift?

The software development life cycle (SDLC) includes five stages: design, development, testing, deployment, and operation. The security of these five stages should be given targeted attention.

To this end, MetaTrust has carefully designed five corresponding security services and products for the design, development, testing, deployment, and operation of these five important development processes:

2.1. Design Phase: Design Verification

We can use formal verification techniques to conduct in-depth security analysis on critical systems in the protocol layer (Layer 1 and Layer 2), such as DEX, chain bridges, and wallets.

2.2. Development Phase: MetaTrust Development Package Manager (MPM)

After developing secure software, MetaTrust has provided the world's first secure package manager (MPM) for secure development and best security development practices and libraries for Web3 developers.

2.3. Testing Phase: MetaScan

The second key product is MetaScan, a tool that provides automated security auditing for smart contracts through SaaS services. It integrates the latest research results in static analysis, formal methods, fuzzy testing, and code clone analysis to identify all possible risks in user contracts. MetaTrust has also defined the most comprehensive smart contract vulnerability standards and conducted comprehensive experiments to ensure that its results match the best auditing services available.

2.4. Deployment and Operation Phase: MetaScout

MetaScout provides 24/7 security monitoring services, including on-chain monitoring, continuous security monitoring, and abnormal internet behavior monitoring.

2.5. Overall Security Assessment: MetaScore

MetaScore provides comprehensive security assessment and rating for projects through security analysis, investment analysis, trading analysis, and development analysis. MetaScore helps end-users, developers, hackathon organizers, and even investors understand the potential security risks of any project.

In summary, MetaTrust provides developers with a complete secure development SaaS tool, adopting the security left shift method throughout the SDLC process to promote security. With the support of automated tools, security left shift can greatly reduce costs and comprehensively improve the quality and security of Web3, building a secure and prosperous Web3 ecosystem, and thoroughly innovating the effectiveness and efficiency of Web3 security.

About ABCDE

ABCDE is a VC that focuses on leading top Crypto Builders. It was co-founded by entrepreneurs, CEOs of listed companies, and top researchers who have been working in the Crypto industry for more than 10 years. The co-founders of ABCDE have built companies worth billions of dollars from scratch in the Crypto industry. Because we are entrepreneurs, we understand entrepreneurs better. Moreover, we have built end-to-end ecosystems for ABCDE's Builders, including listed companies (1611.HK), trading platforms (Huobi), SAAS companies (ChainUP), media (CoinTime.com), and developer platforms (BeWater.xyz). If you are a Builder with a dream of changing the world, come join us in building the next generation of encrypted network world together.