Audit of TzBTC for the Tezos Foundation
The Tezos Foundation requested that Least Authority perform a security audit of TzBTC, a BTC-backed token on Tezos. TzBTC enables the compliant issuance of a fully Bitcoin-backed token on the Tezos blockchain while aiming to eradicate the risks of a single-point-of-failure. This is achieved by dividing the various tasks into keyholders that are responsible for the custody of BTC and the issuance of respective TzBTC, based on an m-out-of-n multi-signature setup and regulated financial intermediaries that act as gatekeepers to ensure compliance with money-laundering and terrorist financing legislation.
Our final audit report was completed on March 13, 2020.