Security Model

The Patex blockchain is a work in progress. Constantly pushing to improve the security guarantees that users have while using Patex is a top priority. At the moment, it’s important to understand that the security of the Patex blockchain is dependent on a multisig wallet (opens new window) managed by several anonymous individuals. This multisig wallet can be used to upgrade core Patex smart contracts without upgrade delays.

Please also keep in mind that just like any other system, the Patex codebase may contain unknown bugs that could lead to the loss of some or all of the assets held within the system. Patex smart contract codebase has been audited repeatedly (opens new window) but audits are not a stamp of approval and a completed audit does not mean that the audited codebase is free of bugs. It’s important to understand that using Patex inherently exposes you to the risk of bugs within the Patex codebase, and that you use Patex at your own risk.

# Security Model FAQ

Does Patex have fault proofs?

No, Patex does not currently have fault proofs. Fault proofs do not meaningfully improve the security of a system if that system can be upgraded within the 7 day challenge window (”fast upgrade keys”). A system with fast upgrade keys, such as Patex, is fully dependent on the upgrade keys for security. Patex goal is to be the first system that deploys fault proofs that can secure the system by themselves, without fast upgrade keys.

Who manages the multisig?

The multisig is managed by an anonymous set of individuals. Members are anonymous in order to make the multisig more difficult to compromise.

How can I help make Patex more secure?

Patex has a Bug Bounty program. You can help up by finding critical bugs in the Patex codebase. You can also run your own verifier node to detect network faults.