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Thursday, 11 June 2015 00:00

Vitalik Buterin to Audit La’Zooz

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Vitalik Buterin, co-founder of Ethereum, has accepted the professional auditing role for the La’Zooz crypto-based ridesharing project. He will verify that the project’s milestones are achieved. La’Zooz core team member, Shay Zluf, said:

“We hope this to be a turning point in the La’Zooz token sale, as many of the Bitcoin community members will see that as a vote of confidence from one of the most appreciated figures in the community.”

Vitalik will be partnering with Craig Sellars from the Omni foundation who has also accepted the auditing role for the project.

Decentralized Ridesharing Roadmap

Roadmap auditing plays a crucial role for the project. Raised funds go into a multisignature Coinbase vault that requires approval of milestones by the auditor prior to being released to the development team’s wallet. Funds will then be released into the vault by 3 out of 5 signers — two from La’Zooz, two from the Omni dev team, and someone other than Buterin from Ethereum.

The La’Zooz project, which is currently issuing its tokens on top of the Omni layer, plans to use Ethereum’s smart contracts as its token stabilizing mechanism. The La’Zooz team has been in touch with Ethereum devs and co-founders “for several months.” Zluf said:

“We are excited to have [Buterin] on board with us as our auditor.”

The auditing role at blockchain based projects has become a new standard in the industry (and potentially beyond) as another step to raise trust between supporters of new Bitcoin 2.0 projects and the development teams.

He continued, “As the token sale function was engineered in a way to keep prices low as long as no big traction has achieved, we believe it to be still a very

Originally appeared at: http://cointelegraph.com/news/114525/vitalik-buterin-to-audit-lazooz-decentralized-ridesharing-project

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