Smart Contract Audit: main advantages and features

Digital technologies have led to the emergence of many new phenomena and terms that refer to them. One of these phrases is smart contract. This is the name of the programs responsible for carrying out actions using blockchain technology. Such applications operate automatically, the consequences of their execution cannot be rolled back, so a Smart Contract Auditor is required.

Verification options

It is important to have correct and secure code that is responsible for carrying out all actions. Smart contracts can be used in a variety of situations: when working with digital assets of any type, including tokens; in the logistics sector, including payment settlements; when dealing with real estate and in other areas where financial and material resources are used.

To avoid losses, a Smart Contract Audit is carried out, which can take the following forms:

  1. Static analysis. In this case, the source code is studied without launching the application, and primary errors are identified. A comparison is made with existing standards and rules for similar processes.
  2. Dynamic analysis. In this situation, the process is put into action, its interaction with data and the environment is studied, and it is determined how well the result obtained corresponds to the expected one.

As a result, Smart Contract Audit makes it possible to identify all shortcomings, identify vulnerabilities, correct errors and shortcomings, and avoid losses.

Features of the procedure

To obtain the most relevant testing results, CQR specialists suggest the following algorithm of actions:

  1. The customer outlines the scope of work and sets his requirements. Based on these parameters, it provides all the necessary documentation to the contractor, including the source code of the smart contract.
  2. A Web3 Security Audit is carried out covering the entire network.
  3. The code is studied line by line manually, which allows you to find the slightest errors and any vulnerabilities.
  4. All elements are automatically verified on the test blockchain.
  5. A report is created based on the procedures performed. It indicates errors, found vulnerabilities, and gives specific recommendations for correction.

The audit ensures that all errors and security deficiencies are found and allows them to be corrected quickly and reliably. The work is carried out anonymously, information about protection is not transferred to third parties and organizations.

The work can be carried out by order of any company that needs appropriate protection.