How Smart Contract Audit Can Help Prevent Hacks

What are Smart Contracts?

How Do Smart Contracts Work?

Why Are Smart Contracts Vulnerable to Hacks?

What Is the Role of a Smart Contract Auditor?

How Does a Smart Contract Auditor Detect Vulnerabilities?

  • Auditors check the contract’s code for any potential vulnerabilities;
  • They perform a security review of the contract to identify any risks;
  • They often conduct a penetration test of the contract to see if criminals can hack it.

Code Audits

  • Check for coding standard violations;
  • Look for potential security vulnerabilities;
  • See if the program is working as expected;
  • Check for logical errors.

Security Reviews

  • Lack of access control measures;
  • Unsafe data storage;
  • Weak authentication and authorization mechanisms;
  • Insufficient security controls.

Penetration Tests

  • Information gathering: The tester gathers information about the target system in this phase. Auditors can collect this information manually or through automated tools.
  • Attack: In this phase, the tester attempts to break into the system. Testers (or “ethical hackers”) can do this in several ways, such as brute force attacks, SQL injection, and cross-site scripting.
  • Reporting: In this phase, the tester writes a report detailing the test’s findings. This report is the starting point for improving the security of the system.

Preventing Hacks Through Smart Contract Audit

Bottom Line

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