Shentu

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Discover Shentu's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Shentu?

Shentu (CTK) is a native utility token of the Shentu Chain, a blockchain platform focused on providing security services for blockchain projects. It utilizes a Delegated Proof-of-Stake (DPoS) consensus mechanism and offers robust tools and services to enhance safety, including the Shentu Security Oracle, DeepSEA programming language, and ShentuShield. The CTK token is used for secure payments, staking, and governance within the ecosystem, aiming to provide a secure environment for blockchain projects and decentralized applications (dApps).

How is Shentu used?

Shentu (CTK) is used in various ways within the Shentu Chain ecosystem:

  • Payment and Gas Fees: CTK is used as a means of payment within the Shentu Chain network, particularly for paying gas fees required to incentivize the decentralized community of nodes to validate transactions.
  • Staking and Network Security: Validators can stake CTK to contribute to network security and are rewarded with CTK for their contributions. This staking mechanism is based on the Delegated Proof-of-Stake (DPoS) consensus mechanism.
  • Security Oracle and ShentuShield: CTK is used to incentivize users to contribute to the Security Oracle, which checks smart contracts for potential vulnerabilities. Additionally, CTK is used as collateral for ShentuShield Pools, which provide decentralized reimbursements for lost or stolen assets.
  • Incentives and Rewards: CTK is awarded to users who participate in the Security Oracle network and provide security analysis. It is also used as a reward for validators who contribute to network security and development.
  • Community Governance: CTK is used for community voting in decentralized network governance, ensuring that the community has a say in the direction of the platform.
  • Trading and Investment: CTK can be traded on various cryptocurrency exchanges, providing an investment opportunity for users.

How do I store Shentu?

To store Shentu (CTK) tokens, you have several options:

  1. Exchanges' Wallets: You can store your CTK tokens on exchanges like Binance Wallet or CoinEx, which offer secure and convenient storage solutions.

  2. Crypto Wallets: You can also store your CTK tokens on dedicated crypto wallets like Trust Wallet, which provide an additional layer of security and flexibility.

  3. Cold Wallets: For long-term storage, consider using cold wallets, which are offline and offer the highest level of security against potential hacking threats.

  1. DeepWallet: If you are using the Shentu Chain, you can access your token balance and redeem delegated incentives through the DeepWallet, which can be accessed via a web browser.

  2. KEPLR Wallet: Another option is the KEPLR wallet, which allows you to manage and protect your CTK tokens, including staking and insurance services through Shentu Shield.

Make sure to choose a reputable and secure wallet that meets your specific needs and risk tolerance.

How to buy Shentu?

To buy Shentu (CTK) tokens, follow these steps:

  1. Choose a Reliable Exchange:

    • Binance: Known for lower fees and increased liquidity, suitable for investors in Australia, Singapore, UK, and internationally. Canadian and USA residents are prohibited.
    • Gate.io: Offers an easy-to-use interface and a large number of altcoins, including Shentu (CTK). Accepts Australian and UK residents, but prohibits USA and Canada residents.
    • Bitfinex: One of the oldest exchanges, offering trading opportunities for many altcoins, including Shentu (CTK).
    • KuCoin: Supports over 700 cryptocurrencies and offers both centralized and decentralized exchange options.
    • CoinCarp: Provides a step-by-step guide for buying Shentu (CTK) on decentralized exchanges (DEX) and centralized exchanges (CEX).
    • CoinCodex: Offers a detailed guide on buying Shentu (CTK), including choosing the right trading pair and deciding between market and limit orders.
    • Coinmerce: Allows buying Shentu (CTK) using iDeal and other payment methods.
  2. Create an Account:

    • Enter the required information and set a secure password.
    • Enable two-factor authentication (2FA) for added security.
  3. Verify Your Identity:

  • Complete Know-Your-Customer (KYC) verification, which may vary based on your nationality and region.
  1. Add a Payment Method:

    • Follow the exchange's instructions to add a credit/debit card, bank account, or other supported payment methods.
  2. Buy Shentu (CTK):

    • Use fiat currency if supported, or first purchase a popular cryptocurrency like USDT and then exchange it for Shentu (CTK).
  3. Store Your Shentu (CTK):

  • Use a reliable crypto wallet such as Trust Wallet or Metamask for long-term storage. You can also store them on the exchange's wallet, but cold wallets are recommended for security.
  1. Monitor Your Investment:
    • Keep track of your Shentu (CTK) investment performance and adjust your strategy accordingly.
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History of Shentu

Shentu, formerly known as CertiK, was founded in 2018 by two computer science professors, Ronghui Gu and Zhong Shao, from prestigious universities in the United States. The project initially focused on providing security services for blockchain projects, aiming to make them more secure and trustworthy. In November 2020, the mainnet was launched, and on August 31, 2021, the project was rebranded as Shentu Chain.

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How Shentu works

Shentu (CTK) is a blockchain platform designed to enhance security features for decentralized finance (DeFi) applications. It is built on the Cosmos SDK, a modular framework for building interoperable blockchain applications. Here's how it works:

Consensus Mechanism

Shentu uses a consensus mechanism called Proof of Stake Modifier (PoSM), which selects validators based on their reputation and past performance. This ensures that only trusted validators participate in the consensus process, reducing the risk of malicious attacks.

Security Modules

Shentu includes advanced security modules to protect DeFi applications from common attack vectors such as flash loans and oracle attacks. These modules include:

  • Flash Loan Attack Prevention Module: Ensures all transactions are atomic and cannot be reverted.
  • Oracle Protection Module: Verifies the authenticity and accuracy of data provided by external sources.
Developer Tools and Services

Shentu offers a range of tools and services for developers building DeFi applications, including:

  • APIs: For interacting with the network.
  • Developer Tools: For building and deploying smart contracts.
  • Community Resources and Support Services: To aid in development and integration.
Integration with Cosmos Ecosystem

Shentu benefits from being part of the larger Cosmos ecosystem, allowing applications built on Shentu to easily integrate with other blockchains in the Cosmos ecosystem. This provides greater interoperability and flexibility for developers.

ShentuShield and DeepWallet

ShentuShield is a decentralized system that allows users to claim reimbursements for funds lost due to various causes. It ensures the security of funds for 21 days, after which users can choose to renew it. DeepWallet is a non-custodial digital wallet that allows users to manage tokens, delegate stakes, deploy smart contracts, and participate in governance proposals. It emphasizes security and user empowerment.

CTK Token

The CTK token is used for secure and convenient payments between participants of the network and between participants and the system. It is also used to pay gas fees, stake tokens, and fund liquidity pools. Additionally, CTK serves as an incentive for supporting and developing the network, as well as for participating in security analysis.

Staking

CTK holders can stake their tokens to participate in the network's governance and earn rewards. Staking involves delegating tokens to validator nodes, which helps to secure the network and validate transactions.

Decentralized Security Oracle

Shentu's Decentralized Security Oracle is a core dApp that requires CTK to function. It provides security analysis for smart contracts, and CTK is awarded to the party that ultimately provides the analysis, creating a transparent and competitive system of security investigators.

Overall, Shentu is a powerful blockchain platform that provides enhanced security features for DeFi applications through its advanced security modules, reputation-based consensus mechanism, and range of developer tools and services.

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Shentu's strengths

Shentu (CTK) has several strengths that make it a robust and secure blockchain platform:

  1. Enhanced Security Features: Shentu is designed to provide advanced security features for decentralized finance (DeFi) applications. It uses a Proof of Stake Modifier (PoSM) consensus mechanism, which selects validators based on their reputation and past performance, reducing the risk of malicious attacks.

  2. Advanced Security Modules: Shentu includes modules that protect DeFi applications from common attack vectors such as flash loans and oracle attacks. These modules ensure that transactions are atomic and cannot be reverted, and they verify the authenticity and accuracy of data provided by external sources.

  3. Reputation-Based Consensus: Shentu's PoSM consensus mechanism ensures that only trusted validators are selected to participate in the consensus process, enhancing the overall security of the network.

  1. Decentralized Security Oracle: Shentu's Security Oracle is a core dApp that requires CTK to function. It provides security analysis and incentivizes users to contribute to the security of the network through rewards.

  2. ShentuShield: ShentuShield is a decentralized system that allows users to claim reimbursements for funds lost due to various causes. It provides an additional layer of protection for users and enhances the overall security of the network.

  3. Interoperability: Shentu is built on the Cosmos SDK, which allows it to integrate with other blockchains in the Cosmos ecosystem, providing greater interoperability and flexibility for developers.

  1. Strong Institutional Support: Shentu has received significant financial backing through private token sales, demonstrating the blockchain community's confidence in its potential to enhance security and trustworthiness in the ecosystem.

  2. Robust Tools and Services: Shentu offers a range of tools and services for developers, including APIs, developer tools, and community resources, making it a comprehensive platform for building secure and reliable DeFi applications.

These strengths position Shentu as a leading platform for enhancing security and trust in the blockchain ecosystem.

Shentu's risks

Shentu (CTK) carries several risks that investors should be aware of. According to InvestorsObserver, Shentu has a moderate risk score, indicating that it is a relatively moderate risk investment. This assessment is based on factors such as the amount of money required to shift its price over a 24-hour period, recent changes in volume and market cap, and the potential for manipulation.

One of the significant risks associated with Shentu is the potential for security weaknesses. Hackers or malicious groups may attempt to interfere with the platform, including malware attacks, denial of service attacks, consensus-based attacks, Sybil attacks, smurfing, and spoofing. Additionally, there is a risk that a third party or a member of the Foundation, the Distributor, or their affiliates may intentionally or unintentionally introduce weaknesses into the core, negatively affecting CTK and/or the Shentu Platform.

Another risk is the possibility of unforeseen technical difficulties, which could impact the platform's functionality and the value of CTK. Furthermore, there is a risk of a decline in the prices of digital assets, virtual currencies, or CTK itself, which could result in financial losses for investors.

Shentu also faces risks related to its staking mechanism. The ShentuShield Pools, which offer higher-risk, higher-reward staking options, are susceptible to various risks, including the event of a decline in CTK prices, unforeseen technical difficulties, and a shortage of development funds.

Overall, while Shentu offers several security features and tools to mitigate risks, it is essential for investors to conduct thorough due diligence and understand the potential risks involved before investing in CTK.

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Did Shentu raise funds?

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Shentu’s team

  • Jeff Vanrykel: Employee at Shentu Chain.
  • Yuxuan Xue: Employee at Shentu Chain.
  • Felicia Wang: Employee at Shentu Chain.
  • Yoongbok Lee: Tech Lead and Software Engineer at Shentu Chain.
  • Ronghui Gu: Co-founder of Shentu Chain (formerly CertiK), a Columbia University graduate and professor of Computer Science.
  • Zhong Shao: Co-founder of Shentu Chain (formerly CertiK), a Yale University graduate and professor of Computer Science.

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