A smart contract audit is an important safety check to protect you and the end user. Here’s what you need to know about the process.
In the broadest possible explanation, we conduct an audit by taking the code alongside documentation, studying it and then assigning a team to review the code. We use automated tools and additional manual audits to achieve the best results. Errors happen for various reasons such as negligence, lack of knowledge or experience in writing smart contracts, and sometimes even intent to provide a low-quality service.
When it comes to money, everything is high stakes. It doesn’t really matter how much money people invest in a project—it can be $100 or $100,000—a loss is a loss. The goal of the smart contract audit process is to offer the best protection against loss. For an ethical auditor, the interests of the end user take precedence over the client's interests. At times, clients request certain information to be concealed from the public, fearing reactions to public disclosure. They often argue that they are paying for the service, hence their word is law. However, an ethical auditor prioritizes the end user above all else.It's crucial to assess risks sensibly.
A serious professional audit, depending on the size of the contract, can take from 50 to 100 hours. Bluntly, this isn’t the kind of job that costs $100, like paying some teenager to mow your lawn one afternoon. We recommend asking a potential auditor what methods are used in the process and exactly what tests will be performed. And, just like in any other market, a brand holds weight. The most well-known companies are always present in the media.
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