OpenZeppelin announced the launch of Defender, a developer suite aiming to help developers build smart contracts in “minutes,” on Tuesday. The suite aims to enhance and automate the development and the building of decentralized finance (DeFi) applications on Ethereum. Allowing developers to concentrate on creative inventions instead of spending time rewriting “fundamental code.”
So far, four of the top DeFi platforms – including Aave, dYdX, Compound, and Balancer – are using the product to automate the development operations when building DeFi products.
OpenZeppelin is an Ethereum focused development group providing a secure standard for decentralized applications on the blockchain. Doubling up as one of the top Ethereum smart contract audit firms, OpenZeppelin’s Defender suite will make it faster (development in minutes) to build dApps on a “secure self-secure infrastructure.”
Moreover, OpenZeppelin’s chief technology officer, Jonathan Alexander – speaking to Cointelegraph – stated that easing the process of creating DeFi apps could help reduce the risks of hacks and attacks on smart contracts.
Recently, the Harvest Finance smart contract was exploited as liquidity providers lost $25 million in staked funds. This has been a recurring problem across the decentralized finance ecosystem, including Balancer, YAM Finance, Uniswap, etc. – a problem Alexander believes “could have been avoided or reduced by following a careful security process.”
However, most startup teams lack a transparent security audit due to cost and a “comprehensive system that fully informs them on security best practices and how to assess risk,” he continued.
Props, a blockchain firm using OpenZeppelin’s Defender suite, CEO Peter Watts praised the ease-of-use and enhanced security it offers. He stated,
“Working with high-value smart contracts can be stressful. OpenZeppelin Defender relieves that stress by dramatically reducing the room for human error, making smart contract management simple and safe – it’s a no brainer that will improve the security and efficiency of any team.”
The Defender suite is open source, free, and available for any developer to use Ethereum test nets, including Ropsten, Rinkeby, Kovan, and Goerli.