Dmitry Mishunin founder & CEO at HashEx Blockchain Security. Read Dmitry Mishunin's full executive profile here.
Smart contracts are talked about quite a lot. What is often ignored, however, is their safety. On one hand, we have self-executing mechanisms that don’t require mediators. On the other, it takes one look at the crypto market to see how unsafe smart contracts can be.Smart contracts are the backbone of blockchain. In many cases, chain issues can be traced back to an error within the code. But before you throw stones at the houses of developers, let's imagine a smart contract code.
The last popular reason for security breaches is hacker attacks. In the first quarter of 2023, $222 million was lost toSecurity audits of smart contracts exist with the sole purpose of detecting vulnerabilities and errors in a dApp, protocol or blockchain. Since all of the above work on smart contracts, reviewing said contracts is a necessary step in the process of development.
The process of an audit includes several important steps, and it’s imperative that not one of them is skipped. 2. An automated audit is performed so that the most obvious issues can be detected, and there is a guarantee that a human auditor won’t miss them. Additionally, and to a better effect, unit tests are run. These tests should cover each string of the code, and every string must show good results.
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