As an Entity that is going through or that needs to go through a financial statement audit, you must wonder how the auditors come up with their audit fees. There are plenty of factors auditors consider while providing a quote for a cryptocurrency audit engagement. This blog post will highlight why some audits can be...Read More
When Bitcoin was launched, it was designed with an inherent supply cap of 21 million coins and was to be distributed, according to Satoshi Nakamoto (Bitcoin founder)’s words part of a 2008 email posted to a cryptography interest group mailing list, at a constant rate. The exact and precise reasons behind this number are not...Read More
Blockchain technology represents the most important innovation since the advent of the Internet. More specifically, the blockchain technology underlying cryptosystems such as Bitcoin is significantly transforming the landscape of financial transactions. Transactions are automatically created and recorded, and the auditors who process them have access to an immense amount of information. But beyond the benefits,...Read More
Catallaxy is delighted to announce the integration of the Monero blockchain (XMR) into our cryptocurrency audit practice. We have both onboarded Monero’s software and successfully completed our assessment of risks to financial statements. With our own synchronized copy of the ledger (or “node”), we can provide auditors with assurance regarding the assertions of existence, ownership...Read More
First, let’s start with a simple definition of a block explorer: it’s a software tool that makes blockchain data human-readable. Their general purpose is to confirm the quantity of coins available at a certain address on a certain date. Bitcoin, for example, has dozens of publicly available block explorers. We have seen certain auditors using...Read More
As part of its due diligence and verification activities, Catallaxy conducts an in-depth analysis of blockchain DNA, including the accuracy of recorded data, as well as all of the risk factors associated with implementing a blockchain. Following its technical analysis procedures, Catallaxy recently unearthed a bug in the Ethereum cryptocurrency blockchain. In December 2018, during...Read More
The Blockchain Conference took place from January 30th to February 1st at Stanford University. This is one of the most important annual event in the blockchain industry. A plethora of academics, developers and venture capitalists were present. Catallaxy was there also represented by Dr William Robinson, our expert in Blockchain Risk Management. This conference explored...Read More