ConsenSys is placed to tokenize smart contract and security auditing services with the approaching auction of eight “timeboxed” TURN tokens.
The Ethereum-focused blockchain software company is promoting the offering through it’s good contract audit service ConsenSys Diligence. TURN, short for Time-Unit Representative NFTs, can create a wide open industry for security auditing services that are very popular within the burgeoning blockchain and cryptocurrency space.
The firm touts TURN because the first nonfungible token (NFT) purpose-designed for smart contract security auditing services in the market. It basically tokenizes the labor powering these auditing services and enables outdoors sell to cost them appropriately.
TURN tokens are ERC721-compatible and represent 40 hrs of auditing time for you to holders. TURN can be purchased and offered on secondary markets after that, allowing new users to dictate the need for these types of services whenever they require them.
Related: ConsenSys raises $450M in Series D funding, doubles valuation in four several weeks
Their co-founder Gonçalo Sa told Cointelegraph the solution was mainly driven by struggles to satisfy calls for manual code reviews within the Ethereum ecosystem. Consequently, information mill searching in a six-month waiting here we are at an audit of the systems. Scheduling and prices of audit slots are also a place with innovation ,based on Sa:
“With TURN, we try to introduce a wide open industry for consumers of security auditing services and potentially other time bound human services. TURN is made to be considered a token representing timeboxed services generally. Nothing about this is tailored to security services by itself.”
ConsenSys Diligence will offer you eight days of services, tokenized in 8 NFTs which consist five business days each. Auctions will begin 100,000 DAI ($99,995) along with a cut-off date for that NFTs to become redeemed.
ConsenSys is placed to tokenize smart contract and security auditing services with the approaching auction of eight “timeboxed” TURN tokens.
