Arbitrum Teases $10M Security Audit Program to Support Blockchain Projects

The Arbitrum Foundation, which recently exited Nvidia’s AI Accelerator program , has shared plans toward improving the safety of blockchain projects on its network. With support from ArbitrumDAO, the Foundation will set aside $10 million worth of ARB tokens for a new security audit subsidy program. This effort is designed to help projects, both new and existing, get the smart contract audits they need without facing high financial barriers. Subsidizing Security Through the Arbitrum Audit Program As announced, the initiative is called the Arbitrum Audit Program. It is set to offer a total of 30 million ARB tokens, valued at approximately $14 million over the next 12 months. These funds will be used to cover part or all of the cost of smart contract audits for qualifying blockchain projects. The goal is to make it easier for teams to build securely by reducing the cost of security checks on the blockchain network. Security audits are crucial in blockchain development, as they help identify bugs and weaknesses in smart contracts. However, they can be costly, especially for small teams or new startups. Arbitrum’s upcoming program aims to remove that roadblock and give more developers the confidence to grow on its network. Eligible Participants for the Audit Subsidy The audit subsidy will be available to early-stage projects that already show a good fit with their target market. Also, established teams planning major updates or new features will be qualified for this initiative. This way, both newcomers and experienced developers can benefit from the program, as long as they are building or scaling on Arbitrum. Furthermore, an oversight committee will be responsible for managing the program. This committee includes members from the Arbitrum Foundation and Offchain Labs, the core development team behind Arbitrum. It also features a technical expert elected by the DAO. Projects approved for the subsidy will need to choose from a list of pre-approved audit firms. This list of trusted firms is expected to be published later this week. This helps ensure that all supported projects receive reliable and high-quality audits. Building a Stronger Arbitrum Ecosystem Arbitrum offers a range of Ethereum Layer 2 solutions. Notably, one of them is called Arbitrum One, which enables faster and cheaper transactions while remaining secured by the Ethereum network. This has caught the attention of major companies like PayPal, which recently hinted at expanding its stablecoin, PYUSD, to Arbitrum. In addition, the Arbitrum network features tools such as Orbit for building custom chains and Stylus for writing smart contracts in languages like Rust and C++. The audit subsidy program shows that Arbitrum is not only focused on speed and scale but also on security and developer support. Arbitrum is making a clear investment in the long-term health and security of its ecosystem. The post Arbitrum Teases $10M Security Audit Program to Support Blockchain Projects appeared first on TheCoinrise.com .

Source: The Coin Rise