- Merkle Science’s industry-leading compliance product Compass solves compliance and security issues in the Web3 space.
- With Compass available on Stellar, it will allow developers on Stellar to build with absolute security and transparency.
On Wednesday, November 16, the predictive Web3 risk and intelligence platform Merkle Science announced its strategic partnership with the Stellar Development Foundation (SDF).
The Stellar Development Foundation is a non-profit that looks after the growth and development of the Stellar network, a decentralized blockchain designed for speed, utility, and affordability. As part of this partnership, Merkle Science will bring Compass, its industry-leading compliance product, to the Stellar blockchain network. This will help in providing the much-needed security and compliance to developers in the Stellar ecosystem.
As the world of Web3 is evolving at a very rapid pace, it has been facing major security and compliance challenges. These challenges have only grown bigger with the rapid growth of the Web3 market over the past few months. Also, with the increased operability among the blockchain networks, the number of high-profile hacks has also shot up to the tune of millions of dollars. Speaking on the development, Ian Lee, Director of Global Partnerships for Merkle Science said:
Merkle Science looks forward to maintaining a long-lasting relationship with SDF and adding value to the Stellar network’s burgeoning growth story. Merkle Science envisions a world powered by blockchain technology and is creating the infrastructure to enable crypto’s safe and healthy growth.
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Our mission aligns perfectly with SDF’s mission of promoting greater financial inclusion. This integration takes us to the next level of addressing forensic and regulatory challenges within the web3 ecosystem.
Here’s how “Compass” will work
Merkle Science’s “Compass” is a behavior-based risk reporting and transaction monitoring system, now available on the Stellar Network. Thus, operators and developers building on the Stellar blockchain will have next-generation security on its platform.