Safe Launches Safenet Beta: Onchain Transaction Security Protocol
Safe Launches Safenet Beta: Onchain Transaction Security Protocol
🛡️ Safenet Beta launches
Safe has launched Safenet Beta, a decentralized protocol that validates transactions onchain before execution. The system works by having validators check transactions in real-time and produce cryptographic attestations that are verified onchain - if flagged as unsafe, execution is blocked.
Key features:
- Byzantine Fault Tolerant and gas-efficient
- Works across any EVM chain
- Users maintain full self-custody
- Flagged transactions can be overridden with explicit approval and time delay
Network details:
- Genesis validators include Rockaway, Gnosis, Greenfield Capital, and Blockchain Capital
- Designed to secure Safe's ecosystem: 60M+ accounts, 1B+ transactions, $40B TVL
- $SAFE token powers the network through staking
- Staking now live for validator participation and rewards
The protocol addresses the $20B lost to hacks since 2017, providing onchain security enforcement that protects users even if they sign malicious transactions by mistake.
$20B lost to hacks since 2017. Self-custody has been under relentless attack. As an industry, we need to level up defences. 🔊 Today, we introduce Safenet Beta🔰 A defence protocol for self-custody, powered by the $SAFE token. Onchain enforcement of security can protect users
Safenet is a decentralised protocol that enforces transaction security onchain, before a transaction executes. When you submit a transaction, the validator network checks it in real time and produces a cryptographic attestation. The Safe guard verifies this attestation onchain:
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