The Camino Network Foundation, a pioneering force in the global travel industry, proudly announces the successful completion of a comprehensive security audit by the esteemed cybersecurity firm, Hexens. This milestone solidifies the foundation’s commitment to robust security and innovation within its Web3 travel ecosystem, Camino Network.
The Camino Network Foundation, headquartered in Zug, Switzerland, is a non-profit organization that spearheads the development of a blockchain-based ecosystem within the global travel industry. Drawing on the expertise of travel technology specialists, the foundation champions the advancement of Camino Network, the industry’s first Layer 1 blockchain tailored specifically to the travel sector.
Launched earlier this year, Camino Network is a groundbreaking public and permissioned Web3 blockchain designed to revolutionize the travel sector. The platform empowers developers and participants to harness the potential of decentralized applications through smart contracts, paving the way for innovative travel-related services and products. Backed by an influential consortium that includes renowned industry players like Lufthansa, EuroWings, Hahn Air, and Sunnycars, Camino Network has set a new standard for collaboration within the travel ecosystem.
Paving the Way for Secure Web3 Travel
In its unwavering pursuit of security excellence, the Camino Network Foundation sought out Hexens, a cybersecurity leader with a strong track record in auditing blockchain infrastructure and smart contract code. Hexens’ expertise extends to notable projects such as Polygon Labs, Celo, and Lido. Leveraging industry-standard methodologies and cutting-edge bug-finding techniques, Hexens scrutinized Camino Network’s extensive L1 codebase, uncovering and addressing nine minor vulnerabilities.
This rigorous audit highlighted the platform’s steadfast commitment to maintaining the highest coding standards and prioritizing the security of its ecosystem. Following the audit’s completion, the Camino Network Foundation has entered into a strategic partnership with Hexens to ensure ongoing security enhancements. This collaboration serves to reinforce the travel community’s confidence in the platform’s unwavering dedication to maintaining a secure environment for all users.
To further fortify its security posture, Camino Network has introduced a fully compliant Know Your Customer (KYC) and Know Your Business (KYB) process. This procedure ensures that only verified individuals and organizations can deploy smart contracts on the network, effectively thwarting malicious actors. Additionally, the governing Camino Network Foundation and Consortium possess the authority to suspend suspicious smart contracts and validators via a democratic voting process, introducing an innovative layer of oversight that bolsters network security.
To demonstrate its commitment to airtight security and collaboration, Camino Network has invited white-hat hackers to stress-test the platform through an official bug bounty program. Offering rewards of up to $50,000 for the discovery of critical vulnerabilities, this initiative underscores the foundation’s transparency and proactive stance in mitigating potential security risks.
Camino Network’s mainnet was successfully launched in April, supported by an impressive coalition of over 150 Web3, travel, and travel technology partners. With 26 active consortium members spanning eight countries and three continents, the network is poised for a series of groundbreaking use cases set to go live in the coming weeks, including the innovative Web3 hotel booking platform, Sleap.
Overall, the successful completion of the Hexens security audit marks a significant achievement for the Camino Network Foundation and its innovative Web3 travel ecosystem. With the travel industry undergoing transformative changes, Camino Network’s commitment to security, collaboration, and cutting-edge technology positions it at the forefront of this evolution.
