Smart Contract Audit
A smart contract is a computer algorithm designed to facilitate and execute the terms of a commercial agreement between the two parties. It runs on a decentralized blockchain platform, and its security and workability are ensured by consensus algorithms, without the need of any central authority. These transactions are trackable and irreversible.
Smart contract audit is the same as a conventional, standard code audit. It uncovers security vulnerabilities before the code is deployed to a production environment. The smart contract audit process includes automatic and manual penetration testing. The automatic audit targets commonly encountered security vulnerabilities, while manual audit tests for business logic vulnerabilities.
TheBlockBox smart contract audit process consists of manual code audit and security audit performed by automated tools. In this process, TheBlockBox team analyses smart contract’s functionalities and performs necessary checks against known vulnerabilities. The focus of the audit is to inspect a smart contract to trace and negate any potential for fund losses.
Smart contract audit report with clearly defined audit metrics provides an estimate of the overall severity of vulnerabilities. The report also exhibits categorized vulnerabilities, using risk rating structure based on impact and likelihood scores. Audit reports are typically requested by smart contract developers, product owners of decentralized apps, or ICO/STO managers.