ConsenSys Diligence, a smart contract audit service from ConsenSys, announced soon to be released TURN token. Security auditing buyers and sellers now have a new, open market to trade on thanks to TURN (Time-Unit Representative NFTs). The token is available for a brief period at turnplatform.bid from August 15, 2022, at 12:00 p.m. UTC, through August 19, 2022, at 12:00 p.m. UTC.
TURN is the first NFT for tokenizing services that offer market-based price discovery, like Diligence’s smart contract security auditing service.
TURN- Advancement in the blockchain economy
According to Gonçalo Sá, co-founder of Diligence, “TURN is the first token of its kind to quantify the enormous value of smart contract and blockchain security assessments. We’re tokenizing labour and advancing the free market economy on the blockchain by using the TURN token, according to the company. ”
“TURN enables clients to purchase an audit without having to stand in a lengthy line for 6 to 9 months,” Sá continued. She also said, “This is the first step in addressing the auditing bottleneck in our ecosystem.”
Each TURN is an ERC721-compliant token representing 40 hours of potential auditing time. The TURN tokens will be available to consumers directly or sold at the moment of minting. Their trade will take place secondarily between clients in need of audit services, enabling the best price discovery for service engagements and scheduling procedures. They each stand for a chunk of time a smart contract auditor spends, and they let the market determine its price.
ConsenSys is a leading Ethereum and decentralised protocol software provider.
The company makes assist developers, businesses, and individuals all around the world to create innovative applications, introduce innovative financial infrastructure, and utilise the decentralised web. Their product portfolio, which comprises Infura, Quorum, Codefi, MetaMask, Truffle, Diligence, and their NFT platform, provides services to millions of users, enables billions of blockchain-based client requests, and has handled digital assets worth billions of dollars. The world’s largest programmable blockchain, Ethereum is also a leader in the developer community, business acceptance, and DeFi activity. The company makes consistent efforts to construct the digital economy of the future on top of this reliable, open source foundation.