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| Ethereum Smart Contract Audit |
Crypto-centric terminologies are reaching their pinnacles in every industry. Every sector like real estate, healthcare, gaming, insurance, supply chain & logistics is leveraging blockchain technology and its concepts to improve their traditional processes.
Decentralization, transparency, tamper-proof features of blockchain tech have paved way for the tech enthusiasts for innovations and solutions in their own stream of interest. Now let’s get into the technical catalogue of smart contracts and much more related to the process of ethereum smart contract audit!
What is Smart Contract?
* Smart Contract is a legal self-regulating agreement written in a piece of code between the seller and buyer or multiple parties. The entire transaction, agreement and piece of smart contract code is recorded in the decentralized, immutable, transparent, tamper-proof blockchain network.
* As smart contracts are self-operating, there is no need for intermediaries, central authorities to regulate the trading. For instance, once the fiat or cryptocurrency is transferred from buyer to seller’s account, then the ownership of the asset will be automatically transferred to the buyer without any time-lapse using the smart contract feature.
* Smart Contracts are much helpful for trading across the globe and there is no need for verification of buyers, sellers. The smart contracts have enabled hassle-free trading of assets between strangers.
What is meant by a smart contract audit?
* Smart Contract Audit is the mandated process before deploying any of the codes into the blockchain network. Auditing a smart contract is similar to inspecting a piece of any programming language code to rectify bugs, vulnerabilities, security risks and much more.
* Smart contract code once deployed in the blockchain network can’t be reverted back and hence it's better to undergo a revision process of the piece of code with the help of experts. Security is the primary concern while smart contracts are crafted, hence, its a smart contract developers responsibility to develop a tamper-proof self-satisfying agreement.
How to structure your ethereum smart contract audit report?
Every ethereum smart contract audit must be perfectly structured as the bugs in smart contract may cause predominant loss of cryptocurrency which is of high value!
1. Disclaimer
* The disclaimer section of the audit report must never affirm any legal binding document rather than a technical discussion.
2. Overall Process of Audit* The disclaimer section of the audit report must never affirm any legal binding document rather than a technical discussion.
* Entire roadmap followed in the smart contract inspection must be provided as a snippet in this section.
3. Test Cases & Results
* Potential vulnerabilities, security bugs must be tested with negative test cases and its results must be produced.
* Potential vulnerabilities, security bugs must be tested with negative test cases and its results must be produced.
Summary of the audit
* Overall opinions and functions of the smart contract & its self-implementing conditions with the conclusion as a snippet must be included in the report as summary.
* Overall opinions and functions of the smart contract & its self-implementing conditions with the conclusion as a snippet must be included in the report as summary.
* Never ever deploy the self-implementing agreements without undergoing an ethereum smart contract the audit by experts team! Beware, the smart contracts once deployed in Ethereum network can not be modified!
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🌍: http://bit.ly/2Jv2SD9 📨: https://lc.chat/now/10480532 ☎️: https://t.me/blockchainfirm
Get More -
🌍: http://bit.ly/2Jv2SD9 📨: https://lc.chat/now/10480532 ☎️: https://t.me/blockchainfirm
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