A professional audit will typically involve the following steps:
Obtaining the scope and specifications of the audit
Detecting commonly known vulnerabilities
Discovering issues and logic errors
Describing all the issues detected and suggesting ways to fix them
Complete smart contract code review for enterprises which are preparing to launch blockchain projects
Check the existence of suggested security flaws and offer ways of solving them
Manual and automated examination for security vulnerabilities in blockchain smart contracts
Perform comprehensive smart contract testing based on provided specification
Provide support and consultation for enterprises which develop blockchain projects with testing, auditing, and formal verification
Identify potential hacker attack vectors and continually manage threats for your projects and evolving risks
Auditing your code at the early stages prevents potentially catastrophic vulnerabilities after launch
Highly skilled security auditors manually analyze your code to eliminate potential threats and logic flaws
Receive a report that describes all detected issues and ways of fixing them
It is a complex procedure that includes methodical examination and analysis of a smart contract’s code that is used to interact with a cryptocurrency or blockchain. During the procedure, the audit team discovers errors, issues and security vulnerabilities in the code in order to suggest improvements and ways to fix them.
Smart contracts often manage huge quantities of funds, and a single bug or vulnerability can result in great losses.
Firstly, the scope and specifications of the audit is agreed upon. Generally it means that the design, purpose, architecture and other details of the smart contract are given to the auditors. Next, the audit team conducts automated tests and analysis for commonly known vulnerabilities in the contracts. Finally, auditors manually inspect the code and issue a report with the findings and suggested solutions to detected issues (if any).
The specification provides information to the auditing team about what the code should be doing and allows them to understand whether the contract works as intended. The specification will serve as the backbone for the audit process and explain the project's architecture, design choices, and build process.
When the audit is finished, you will receive a report that describes issues and vulnerabilities detected in the smart contract, along with the recommendations from the audit team on how to address them.