The crypto industry’s growth has been nothing short of impressive in recent years. However, with this growth has come increased scrutiny from regulators and financial institutions. One of the biggest concerns for these entities is the level of security and transparency around crypto assets. Thus, the importance of the audit from a prestigious and respectful company is a must.
Uniglo (GLO) has proudly announced that it has completed a Paladin audit, a smart contract development company focused on privacy, trustless computing, and scalability. Paladin is one of the first firms to offer an end-to-end solution for all three critical aspects. The project has undergone multiple security audits, the most recent being conducted by the Uniglo team.
The news gives excellent confidence to Uniglo investors and levels the project with top cryptos like Fantom (FTM) and Avalanche (AVAX).
Paladin Audit: What Does It Mean For Uniglo (GLO)?
Uniglo is a rising star on the market, and it is important to leave a positive impression on users. Besides the fascinating asset-backed vault, ultra-burn mechanism, and fully community-driven ecosystem, it’s a must for any ICO to hold audit reports and prove their legacy. Thus, Uniglo has reached Paladin for professional supervision.
The audit report was very positive, highlighting the project’s strong points and offering constructive criticism where needed. The audit covered a wide range of topics, including the project’s technology, smart contracts, roadmap, business model, and team.
Overall, the report showed that Uniglo (GLO) is a well-rounded project with a strong team and a clear vision.
This is highly positive news for the Uniglo (GLO) team and will give them a boost as they prepare for their upcoming launch in October. With the backing of a respected audit firm, they are in a solid position to succeed.
Would Uniglo (GLO) Reach Fantom (FTM) And Avalanche (AVAX)?
All three of these cryptocurrencies– Uniglo, Fantom, and Avalanche – use different methods to secure their transactions. Uniglo implements multi-sig wallets. Fantom (FTM) is secured by Proof-of-Stake that prevents centralization. Meanwhile, the security of the Avalanche network (AVAX) is provided by two distinct protocols – Avalanche consensus, a byproduct of the Proof of Stake consensus process, and the Snowman protocol, which secures C-Chain and P-Chain to expedite smart contract processes.
A multi-sig wallet is a digital wallet that uses multiple signatures to authorize a transaction. This means that more than one person must approve the transaction before it can be processed. In terms of Uniglo, its vault is safeguarded using a 2/4 Multi-Signature method. This implies that at least two core team members must sign each transaction or contract modification.
Furthermore, Uniglo’s team is successfully KYC-verified by Coinsult, and the recent Paladin audit also reflects the company’s accurate smart contract codes.
Besides, Uniglo plans to use the vesting method to secure the $GLO from the dump on the launch day. The vesting contract has also successfully passed the Audit report.
After all, Uniglo is a DAO protocol being built on the world’s most popular and secure Ethereum network, oriented to design a deflationary social currency that, with the help of burns and vaults backed by popular assets across leading chains, will create a powerful engine to deal with market volatility.
KYC verification has already led GLO to the 25% price increase as soon as the news got official, and with the Paladin audit on hand, Uniglo is proposed to level among top cryptos.
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