The Ethereum Foundation is prioritizing a crucial aspect of the ecosystem: security. On Tuesday, it introduced a new program designed to address the high cost of security audits for smart contracts.
The 'Audit Subsidy Program' collaborators include leading audit providers and ecosystem firms, making professional security reviews more accessible to developers. With a $1 million subsidy, the program aims to reduce financial obstacles that have prevented many teams from conducting comprehensive audits. This initiative is part of the foundation's Trillion Dollar Security Initiative, focusing on strengthening Ethereum as it supports increasingly complex applications and larger on-chain value.
The program partners with companies like Nethermind, Chainlink Labs, and Areta, connecting builders with over 20 top audit firms to streamline access to trusted security expertise. The foundation also introduced the 'CROPS principles' framework, emphasizing censorship resistance, open source, privacy, and security.
Builders can submit projects for review, and selected teams will receive subsidies for audit services through Areta's platform. The program is open to all Ethereum mainnet builders, regardless of size or stage.