Sentio Raises $6.4M to Bring Modern Observability to Decentralized Apps
• Sentio has raised $6.4 million to bring modern observability to decentralized applications, led by Lightspeed Venture Partners.
• The funding round enables Sentio to provide the first end-to-end observability platform to gain insights, secure assets and troubleshoot transactions for their decentralized applications.
• Currently, Sentio supports Ethereum, Aptos, BSC, Polygon, Arbitrum, Optimism, Avalanche and Moonbeam.
Sentio Raises 6.4M Led by Lightspeed
Sentio has raised $6.4 million in a funding round led by Lightspeed Venture Partners with participation from industry leaders Hashkey Capital, Canonical Crypto, Essence VC and GSR Ventures. This investment will enable Sentio to bring modern observability to decentralized applications (DApps).
End-to-End Observability Platform
The end-to-end observability platform will provide users with insights into their DApps and help them secure their assets and troubleshoot any transactions they make on them. The team behind Sentio consists of veteran engineers from Google, LinkedIn, Microsoft and TikTok who have extensive experience in both observability and crypto technology.
Vulnerability of Smart Contracts
Smart contracts are the backbone infrastructure for DApps as they often directly handle user assets; however due to openness and composability smart contracts are more susceptible to exploits than Web 2 counterparts. While there are numerous Web 2 observability solutions such as Datadog or Elastic out there – Web 3 observabilty solutions remain fragmented leaving developers having to cobble together third party tools or operate without monitoring or visualization capabilities altogether.
Sentio’s Features
Sentio provides users with monitoring capabilities as well as alerting and log management services all through an integrated hosted experience.. Users can use Sentios SDKs to collect metrics generated by events on their smart contracts such as transactions or traces as well set up alerts on these metrics using the web interface provided by Sentio.. Additionally features such as user behavior analytics and transaction simulation/debugger are under development for further security measures . Currently Sentios supports Ethereum ,Aptos ,BSC ,Polygon ,Arbitrum ,Optimism ,Avalanche & Moonbeam networks .
Cybercrime in Crypto Networks
According Fortune Crypto report cybercriminals hacked over $3 billion from crypto networks in 2022 which doubled the figures from 2021 where $1.55 was stolen alone .In October 2022 alone hackers managed steal around $718 million worth of funds from DeFi protocols making it imperative that platforms like Sention offer additional layers of security when dealing with Decentralized apps .