20 July 2026
Coinbase Introduces ‘Solidify’ To Detect Smart Contract Risks
Coinbase Global Inc, the US-based cryptocurrency exchange, has launched a security tool called Solidify to detect and classify smart contract risks.
In an official blog post, disclosing a new tool to detect and classify smart contract security risk, the exchange announced that it had successfully developed a tool called solidify that will be “used to help automate, standardize, and scale the process of smart contract security analysis and classification.”
The exchange asserted that manual Smart contract analysis is a time-intensive and error-prone process. In the light of this, the firm highlighted that Solidify will use a signature database and a pattern matching engine to detect contract features and their risks effectively.
It will allow automated Smart Contract scanning to standardise and score smart contract risks, suggest mitigation strategies, and generate detailed reports. In the future,Solidify will also be used to decide whether or not Coinbase should list the asset. The firm stated that “Solidify evaluated security risks of hundreds of smart contracts either fully automatically or through identification of unique functions that require additional manual review.”
The exchange also added that (remove comma) Solidify works with the OpenZeppelin library’s ‘asset pause’ function that is present in the majority of smart contracts. The tool is said to aggregate instances of the code and automatically check its status and validity. Coinbase claims that Solidify has about 6,000 unique signatures that are used to match risk against any given smart contract.
In addition, Coinbase has collaborated with several crypto firms that are laying more focus on security and reducing the risk of smart contracts. Besides, DeFiYield protocol has announced the launch of the world’s first web archive of Smart Contract audits.
Disclaimer: The author’s views and opinions are for informational purposes only and do not constitute financial, investment, or other advice.
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