Smart Contracts

Smart contract auditor Hosho lays off 80% of staff

February 1, 2019, 9:09AM EDT

Hosho, a smart contract auditor headquartered in Las Vegas, laid off 30 employees, cutting its workforce by more than 80% as reported by CoinDesk. In its 17 months of existence, Hosho claims to have audited more smart contracts than any other firm. Hartej Sawhney, co-founder and president, told CoinDesk: “We thought we were going to go to the moon and audit lots of ICOs.”

When the ICO market started struggling, so did Hosho's business. The company is restructuring to position itself to survive until the smart contract demand comes back. Menwhile, Hosho has also expanded its services to penetration testing. Sawhney is now focused on expanding the technical team in Ukraine and expanding the firm's presence into Asia. Sawhney said that it's now a game to stay alive.

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