July 21, 2022 12:57 PM UTC
July 21, 2022 at 12:57 UTC
Ethereum-centric redistributed protocol software systems company Consensys has proclaimed the launch of flip tokens, or “Time-Unit Representative NFTs.” Consensys details that return the tokens can produce an alternate market for tokenized security audit through Consensys Diligence, the company’s good contract audit service.
Consensys Diligence will launch flip Tokens in period
From August 15-19, Consensys revealed that a token sale may be taking place that will feature the company’s token flip, which stands for “Time-Unit Representative NFTs”. The company’s good contract auditing service, Consensys Diligence, is essentially tokenized and has its own part of value discovery through the open market.
“TURN is the first token of its kind to quantify the great value of good contract and blockchain security audits,” Gonçalo, co-founder of Diligence itself, said in a weekday statement. “With the flip token, we symbolize work and serve to realize the vision of a safer Web3 that advances free enterprise on the blockchain.”
The next auction may feature a group of eight flip tokens, which are squared ERC721-compatible and that they represent “40 hours of your time that the nursing associate audit will be provided.” After the sale, flip assets will be sold in secondary markets much like other types of NFTs, but the value of TURN is based on the “timeboxed” forty hours of your time.
The Ethereum Consensys setup recently raised $450 million in mid-March and bumped its valuation to $7 billion. Consensys’ product suite serves many Ethereum users as it runs Metamask, Mycrypto, Infura, Quorum, Truffle, Diligence, and more. Reserves believes flip tokens are useful for good contract and blockchain auditing activity.
“TURN allows customers to purchase a nursing associate audit without waiting in a huge queue for six to nine months. this is often the first step to finding the bottleneck with auditing in our system,” the reservations noted.
TURN tokens can serve a terribly niche purpose for people who need auditing services and Consensys believes the assets can leave “optimal discovery of the value of service engagements and programming processes.” In the world of redistributed finance (defi), code auditing will prevent costly errors found in faulty code.