A smart contract audit involves a detailed analysis of the contract's code to identify security issues and incorrect and inefficient coding, and to determine ways to resolve the problems. The audit process is an important part of ensuring the security and reliability of blockchain applications.
How to check the security of your smart contract?
The best way to check the potential vulnerabilities of your smart contract is to hire an external auditing company. An external auditor can use different auditing programs to evaluate the security and accuracy of the code. As a result, they will provide you with a list of issues and concerns that you will need to address.
Should you hire an external auditor for your smart contract?
This process is better performed by an external auditor because the developer may miss some critical errors and be unable to look at their smart contract with fresh eyes. Given the smart contracts’ programming complexity, it is not surprising that even the top developers make mistakes.
What is a Timelock in a smart contract?
A timelock is a piece of code in a smart contract that can lock the functionality of an application for a certain amount of time. Timelocks can help prevent rugs… but only if malicious code isn’t already present in the smart contract. How do timelocks work? And how much time do you have before a contract can be modified?
