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What is a smart contract audit?

By, admin
  • 16 Sep, 2023
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A smart contract audit involves a detailed analysis of a protocol’s smart contract code to identify security holes, poorly coded implementations, and inefficient code before proposing solutions to address them. Auditing helps ensure the security, reliability and performance of decentralized applications across Web3.

During a smart contract audit, a team of security experts will review the code, logic, architecture, and security measures of the application, both automatically and manually, to identify any potential issues. They specifically look for any code that might be vulnerable to malicious attacks, and any parts that need improvement.

The smart contract code will eventually be deployed to blockchains such as Ethereum, BNB Chain or Polygon. Once contracts are live, they can be accessed by anyone – from end users to malicious attackers – which is why any vulnerabilities must be addressed before launching or updating a decentralized application.

After the audit is complete, the auditors issue a summary report that provides details on the audit findings, resolutions and any other issues, as well as a future roadmap for addressing existing issues. After a comprehensive smart contract audit, projects can deploy their contracts with confidence knowing that the security of the application is guaranteed and user funds are protected.