Shentu shows promising potential as a leader in providing insurance services for users of blockchain technology.
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Until now, time has been the most reliable indicator of a smart contract’s robustness. Crypto enthusiasts have long preferred contracts that have been running for extended periods over newly developed ones. This is because, over time, smart contracts become more secure due to exposure to real-world use and potential vulnerabilities being identified and fixed. However, to surpass time’s protective effects, a new solution must be even more robust and foolproof. This is where Shentu comes in.
Shentu is proposing a revolutionary insurance platform for smart contracts, which aims to make the user experience as seamless and user-friendly as possible.
Time flies :
Just 20 years ago, getting insurance for a flight involved a lengthy and complicated process of contacting your private insurance company and negotiating a specific deal, which often required a back-and-forth exchange of information. Fortunately, times have changed, and now getting flight insurance for a flight purchased online is as simple as a single click. Shentu aims to do the same for smart contracts.
When analyzing a project, it’s crucial to consider its current state and its potential for future growth and development.
Currently, Shentu offer a time-based insurance policy but this could be extended in the future into a coverage for smart contract exposure in real-time.
Additionally, with advancements in AI technology, we can imagine integrating this new component into their existing system already performing monitoring and detecting contract abnormalities.
This combination could position Shentu as a leader in blockchain insurance.
Shentu is a entity in the crypto ecosystem that shares the same founders as Certik. To gain a better understanding of what this entails, we invite you to visit their website at https://www.certik.com/ to review the many projects that Certik has audited and continues to audit, including Polygon, Aave, BNB Chain, 1inch, Aptos, Kava, Chiliz, The Sandbox, and many others.
To obtain insurance through Shentu, you will first need to have some CTK tokens to interact with their wallet, known as DeepWallet. Once you have the tokens, you can then use the ShentuShield protocol. The more CTK tokens you deposit into a pool, the more coverage you can assure.
The global insurance industry is worth trillions of dollars and continues to grow steadily. As people become increasingly aware of the risks they face, demand for insurance is expected to rise.
If Shentu is able to provide an insurance solution with an easy smart contracts’s interaction and a user-friendly experience, then it has the potential to become a leader in this area in the near future.
