1 / 7

What is a Smart Contract Audit_

Get your smart contracts audited and certified by leading smart contract security experts. Our smart contract audit services cover functionality, vulnerabilities, and gas efficiency. Talk to a consultant now to get started.

cypher1
Download Presentation

What is a Smart Contract Audit_

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. What is a Smart Contract Audit? Cyphershield.tech

  2. Smart Contract Attack • A smart contract is a self-executing line of code that follows instructions set on a blockchain network. • These contracts enable users to conduct non-open, transparent transactions on the blockchain without being bound by a central authority or any legal system. • Due to their utility, they have become the building blocks of complex decentralized applications such as DeFi and DExs, ICOs, voting protocols, and supply chain management. • As smart as they may seem, if any security flaws or vulnerabilities are detected in the code, smart contract audit they can do huge damage. • Typically, a smart contract may perform its designed function, but the existence of a vulnerability would allow hackers to build code that interacts with the smart contract to transfer funds.

  3. Known or standard vulnerabilities in smart contracts • Competitive Hazards: Activities are not performed in a predetermined order. In smart contracts, competition hazards can arise when an external contract takes over the flow of control. • Fork Attack: In this case, some functions are called repeatedly before the first function call is completed. One of the key solutions is to prevent concurrent calls in certain functions, especially when checking for external calls. • Cross-functional competition hazard: Describes similar attacks of two functions that share the same state and have the same solution. • Transaction Order Dependency (TOD) Problem/Frontend Running Problem: Another competition hazard that affects transaction order within a block. By manipulating the order of transactions, one user can benefit from another.

  4. Smart Contract Audit • Similar to regular code auditing, the security of a smart contract is directly proportional to the quality of the deployed code. • It involves extensive review and analysis of smart contract code. • To do this, smart contract auditors check for common bugs, known bugs on the main platform, and simulate attacks on the code. Developers (usually external smart contract auditors) can then identify bugs, potential bugs, or security holes in the project’s smart contracts. • To do this, smart contract auditors check for common bugs, known bugs on the main platform, and simulate attacks on the code. Developers (usually external smart contract auditors) can then identify bugs, potential bugs, or security holes in the project’s smart contracts.

  5. Steps of smart contract audit: 1. Check consistency between code features and project white papers; 2. Check for standard vulnerabilities; 3. Symbolic analysis; 4. Automated analysis via automated tools (Method 1): Tools like Truffle and Populus are used for automated code testing . 5. Manual code and code quality review (Method 2): In this case, the code is checked manually by an experienced developer. Although automatic inspection is faster, manual inspection can lead to errors and omissions; 6. Gas usage analysis; 7. Performance optimization; 8. Report preparation.

  6. Smart Contract Audit Firm 1. CertiK: Founded in 2018, CertiK is one of the top choices in the blockchain market because of its transparency and verification engine verification tools that ensure scalability and excellent security. 2. Hacken: Hacken is another company that provides auditing services for blockchain platforms such as Ethereum, Tron, EOS , etc. Their services are not limited to blockchain solutions, Hacken also provides security products for IT companies. 3. Quantstamp: Quantstamp is a blockchain security company with developers from top IT companies such as Facebook, Google, and Apple. Quantamp has a wide range of blockchain security tools and services, including: Decentralized Security Network for smart contract auditing. According to them, Quantstamp protects over $200 billion in digital assets and they have more than 200 foundations and startups involved in their product.

  7. 4. ConsenSys: Founded in 2014, ConsenSys is a strong team of software developers, business experts, lawyers, smart contract security audit and security providers. Its platform is based on the Ethereum ecosystem and aims to provide blockchain solutions such as security and product protection, financial infrastructure, etc. The company has smart contract security analysis products. It provides cryptoeconomic analysis and automated smart contract scanning for the Ethereum blockchain. 5. Chainsecurity:Provides products and services that secure blockchain protocols and smart contracts. Chainsecurity is trusted by over 85 blockchains and has acquired over $17 billion worth of digital assets. They also work with PricewaterhouseCoopers Switzerland to conduct security reviews, create solutions for evaluating smart contracts, and test and run smart contract performance metrics. 6. Runtime Verification: Runtime verification runs security audits on virtual machines using a run-time verification approach that improves standards compliance and provides broader coverage during execution.

More Related