Spotlight: Forta
Welcome back to Polylastic’s ‘Spotlight’ series, where we uncover extraordinary projects within the cryptocurrency space. In this edition, we’re excited to shine the light on Forta, a decentralized security and operational monitoring network that is making waves in the cryptocurrency space. Let’s dive into the details of this excellent project.
What is Forta?
Forta is a cutting-edge, real-time decentralized cybersecurity network that operates on Ethereum, Polygon, and several other blockchains. Established in 2021 and nurtured by OpenZeppelin, Forta has earned the trust of major web3 dapps such as dYdX, Compound, Lido, and MakerDAO. Boasting a vast community, comprising thousands of supporters, numerous protocols, and individual users, Forta’s security network, run by the community, has safeguarded tens of billions of valuable assets against exploits.
What Makes Forta Stand Out?
One of the key features of Forta is its comprehensive dApp security monitoring, allowing users to subscribe to receive real-time updates on the security of web3 projects they are interested in. This ensures that users stay informed and protected from potential threats.
Moreover, Forta provides a powerful Software Development Kit (SDK) for web3 developers. With this SDK, developers can construct threat detection bots and establish nodes to expand the Forta network across multiple blockchains.
This capability empowers developers to enhance the security of their applications and contribute to the broader network’s resilience. By leveraging its decentralized architecture and real-time capabilities, Forta has become a go-to solution for protecting digital assets in the rapidly evolving world of decentralized finance. Its successful track record and the trust placed in it by prominent projects in the ecosystem demonstrate Forta’s effectiveness in combating threats and ensuring the integrity of web3 applications.
Can I Stake Forta?
Delegated staking is now live on the Forta Network, providing an additional layer of security and economic incentives for participants. FORT token holders can now delegate within scan node pools and earn rewards in the Forta App.
The maximum stake per node has been raised to 15,000 FORT, allowing node runners and delegators to contribute more to network security and earn greater rewards. Rewards for scan nodes will be shared among node operators and delegators, with node operators having the ability to set a commission percentage.
Forta’s delegated staking architecture has been designed with security in mind and has undergone thorough audits by Consensys Diligence, ensuring a secure and reliable mechanism.
Where Can I Trade Forta?
Forta can be traded on a variety of centralized exchanges such as Coinbase, Kucoin, Bitget, and Gate.io. It is also available on the decentralized exchange, Uniswap.
Closing Thoughts
Forta stands out as a trailblazing real-time decentralized cybersecurity network, serving as a vital line of defense against exploits in the web3 landscape. With its extensive network, advanced monitoring tools, and developer-friendly SDK, Forta enables users and developers to proactively safeguard their assets and contribute to the security of the broader ecosystem.
