Least Authority

Least Authority is a security consulting firm that audits cryptographic protocols, zero-knowledge proof systems, consensus code and smart contracts for blockchain, Web3 and fintech teams. Its researchers read the code line by line, report the issues they find and verify the fixes before they deliver a final report, which the client may choose to publish.

Least Authority was formed in the United States in 2011 and moved to Berlin in 2016, where Least Authority TFA GmbH works with Liz Steininger as chief executive. The firm began its audit work in 2014 and has completed more than 300 security audits on Ethereum, Polygon, Cosmos, Tezos, Mina, Filecoin and other networks.

Audits of cryptography and zero-knowledge proofs

Most of the work of Least Authority concerns code where a mathematical error breaks the security of the whole system: implementations of zero-knowledge proofs, secure multi-party computation and consensus protocols. The team audits projects in Rust, Go, Python, C and C++, Solidity, Cairo, Circom, Noir, Haskell, OCaml and other languages.

World, the project behind the World ID, had Least Authority audit its cryptography and its uniqueness check, which runs on secure multi-party computation. Least Authority uses AI tools to speed up parts of an audit, and its researchers review and validate every output before a finding goes into the report.

The Least Authority audit process

A Least Authority audit starts with a call about the security needs of the project, followed by a proposal with timeline and budget. The researchers then review the code together with the development team, which can preview findings while the work is still running.

Once the team has addressed the issues, Least Authority verifies the changes and delivers the final report, and publication stays optional for the client. Like every smart contract audit, such a report covers one code version, so later upgrades need a review of their own.

From the DAO report to the Zcash ecosystem

In 2015 Least Authority wrote a security report for Ethereum that identified the issues behind the later DAO hack. The privacy coin Zcash also started inside Least Authority Enterprises and was spun out into the Electric Coin Company, a former sibling company of the Berlin firm.

Since March 2024 Least Authority has been the Zcash Ecosystem Security Lead, funded by the Zcash Community Grants program. In that role it has audited the NU6 network upgrades of the Zebra and Zcashd node software and the Lightwalletd infrastructure, and it advises Zcash projects on incident response.

Upcoming fintech and finance events in Europe

Least Authority TFA GmbH in Berlin

Least Authority TFA GmbH has its seat in the Berlin postal district 10243, with a subsidiary in the United States, Least Authority USA Inc., and one in Singapore. The team works largely remotely, and the Berlin office has hosted meetups of the blockchain scene in Berlin, among them the Berlin event of ZconV, the Zcash conference.

Least Authority is a member of Bundesblock, the German blockchain association, and works with the security research community of Bugcrowd. Before it opened the Singapore subsidiary, the firm went through the Southeast Asia market access program of German Accelerator.

The principle of least authority

The company name comes from the principle of least authority, also known in information security as the principle of least privilege. Under this rule, every component of a system receives only the rights it needs for its own task and no more, so a compromised part cannot take over the rest.

The same idea guides the products of Least Authority, which builds privacy-preserving software on open source, such as the encrypted storage service PrivateStorage. The firm releases its own code as open source and supports non-profit and human rights organizations with secure tools.

Least Authority and Finance Loop

Banks and fintech firms in the Finance Loop network that build on blockchains or zero-knowledge proofs need a review of their cryptography before they launch. Finance Loop brings their engineers and security leads together at its events, where they compare how they scope such audits and act on the findings.

Finance Loop is a professional network and has the goal of driving the institutional use of emerging technologies in finance, such as AI, tokenization, stablecoins, and DeFi. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.

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