#15 - Alex Roan: Cofounding Cyfrin: Rapidly Scaling A Web3 Cybersecurity Firm
Aug 24, 2023
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Alex Roan and DeGatchi, co-founders of Cyfin Audits,a web3 cybersecurity firm, discuss the importance of security-first engineering in the web3 space, invariant testing in smart contract engineering, challenges faced by the crypto industry, the significance of public auditing, vulnerabilities with on-chain oracles, and transitioning to a team manager in a startup.
Cyphrin prioritizes communication with clients during the auditing process to build a deeper understanding and enable a collaborative approach.
Cyphrin recognizes the complexity of oracle systems and advocates for a combination of on-chain and off-chain approaches for reliability.
Managing multiple responsibilities in a startup requires clear vision, hiring aligned individuals, and empowering team members with regular communication and transparency.
Deep dives
Building a Team and Scaling Web3 Security
Cyphrin focuses on scaling Web3 security and values the importance of security in the space. They aim to provide comprehensive audits while emphasizing the need for communication with clients during the process. The team values education and is committed to passing on knowledge to help level up Web3 security. They are also exploring other areas, such as ZK technology, to expand their offerings. Hiring talented individuals who align with their values and mission is a priority, and they strive to create a collaborative and impactful team.
Challenges and Considerations in Auditing
Auditing in Web3 poses various challenges. Ensuring consistent communication with clients is crucial, as it helps build a deeper understanding of the project and enables a collaborative approach. Cyphrin emphasizes the importance of context, both in terms of understanding the codebase and simulating potential issues. They use tools such as Foundry for unit testing and invariant tests to identify vulnerabilities. There is also a focus on educating clients on security practices and providing solutions to improve the overall security of their projects.
The Role of Oracles and Oracle Manipulation
Cyphrin acknowledges the complexity of oracle systems and highlights the need for a trusted and reliable oracle solution. The team recognizes the limitations of solely on-chain oracles and believes a combination of on-chain and off-chain approaches is necessary. They are cautious about on-chain oracles and would only trust those that have proven reliability. They stress the importance of selecting oracles that provide accurate and representative data for pricing, liquidity, and other critical information.
Managing Multiple Hats in a Startup
As a startup, Cyphrin faces the challenge of managing multiple responsibilities and effectively juggling various roles. This requires setting a clear vision, hiring individuals who align with the company's values, and providing guidance and support to the team. The founders at Cyphrin understand the importance of enabling and empowering their team members to contribute their expertise and take ownership of their areas. Regular communication and transparency help maintain alignment and motivation among team members.
Scaling Up and Future Plans
Cyphrin is focused on scaling Web3 by providing robust security solutions and tools. They have plans to expand into other areas such as ZK technology. They are open to collaborations and eager to learn from others in the space. The team values knowledge sharing and aims to contribute to the growth and education of the broader Web3 community. While maintaining their core mission of providing reliable and comprehensive security audits, they will continue to explore new avenues of growth and innovation.
Cyfin Audits is a dynamic and innovative web3 cybersecurity firm that has demonstrated remarkable growth and expansion in recent months. As a leading player in the fast-paced world of blockchain and decentralized technologies, Cyfin Audits has carved a distinctive niche for itself by offering comprehensive security solutions tailored to the unique challenges of the Web3 ecosystem.
Founded with a vision to enhance the security and reliability of blockchain networks, Cyfin Audits has quickly emerged as a trusted partner for both established blockchain projects and emerging startups. What sets Cyfin Audits apart is not just its technical prowess but its unwavering commitment to staying at the forefront of web3 security trends and challenges.