Why We Invested in SphereX: The Missing Piece Of The Puzzle

Fabric Venture’s fundamental belief in investing in SphereX is that building blocks are evolving for Web3 infrastructure in the same way we have seen for SaaS infrastructure and before that for iOS application infrastructure. Components of this include communications, CRM, user management and security. Specifically in security for Web3 our key objective was to learn lessons from how the cybersec solution space evolved in Web2 and apply this to Web3. No better to do this than follow Eyal, Oren and team. The co-founders are two senior ex-8200 cyber experts with extensive experience in leadership, technology and Web2 cyber security. Most of the smart contract security landscape roughly includes either pre-deployment code auditing solutions (e.g., Certik), or near-real-time monitoring and analytics tools (e.g., Forta). SphereX fills the missing piece of the puzzle: Reverting malicious transactions before approval to the blockchain. SphereX identifies and prevents exploitation of vulnerabilities in real time, without breaking the composability, interfering with- or delaying legitimate transactions. It will be applied as “on-chain SaaS”, backed by off-chain learning and risk scoring engines and is called by the customer’s smart contract to apply the inline protection and prevention logic. They take care of runtime security assuring continuous and safe operation despite attacks and allow smart contract owners and developers to focus on building their product and user base. SphereX respects decentralized decision-making processes in how to deal with a transaction. Reverted Tx’s trigger the off-chain engine to decide to approve next time or not. This requires integration but ultimately Sphere-X will be a sticky part of contract design. <a href="https://medium.com/fabric-ventures/why-we-invested-in-spherex-the-missing-piece-of-the-puzzle-8b2cfd35b52b">Click Here</a>