During the rise of the Ethereum smart contracts, there have been numerous reports of code going wrong due to calculation errors, or wrong judgment calls. These errors are usually as tiny as placing a decimal in the wrong place. However, these tiny errors can sometimes end up having a major impact on an ICO and funds invested by investors in the smart contract.
The Veon Solution
To help developers avoid such situations, the VEON DAO has been created. A decentralized auditing engine lets anybody have the code reviewed at a price he or she chooses. Utilizing decentralization to audit source codes could potentially take place fast with no middlemen involved.
On VEON DAO, developers will be able to request for inspection of their code from anyone on earth. This will allow reviewers to inspect the code listed. Developers have the option to set up a budget price, reputation score, and the number of auditors they need. A Software developer can then deposit their funds into the contract and publish the listing.
How Veon Blockchain Software Audit Platform Works
VEON DAO operates with the aid of various components. This is meant to ensure crypto-economic benefits for all those involved. One of the components is TERMINAL. This application is utilized for contract listing. There is also the escrow contract between the programmer and auditor, and a token of choice.
There is another contract, which will reward token holders a quarterly dividend base on their percentage holdings. All of these components work to get to create a beneficial environment for the whole ecosystem. In case an audit agreement is challenged, holders of VEON tokens will have the ability to opt-in and settle the dispute. This is where the community gets involved in mediating an issue.
The entire process is quite simple. A programmer posts their job and an auditor checks it out. If they think they can meet the requirements, they begin to tackle the job. After they are done, they submit their work. The programmer will then have the option to review work and rate the auditor. The rating can be high or low. Besides that, they can reject the work and look for another auditor.
Veon Crowdsale Contract
Staying true to the idea of decentralization, this project is open source. The code has been deposited in Github for anyone to see. The smart contracts for the crowdsale will also be published before the sale. This will let anyone review the code and see if it is above board. Thus, everyone will understand how it works and how the VEON tokens will be sent to the masses. With time, more details will be published on the web as the project proceeds.
Veon ICO Details
The platform aims to conduct an ICO soon. The goal is to come up with USD 3 million to ensure they deliver a great platform. At the ICO, there will be a sale of 10 million VEON tokens. However, an exact date for the sale has not been set. Everything is still in development.