We live in a world of developing technology that moves at a frightening pace and one of the latest innovations is the smart contract. This technology uses blockchain systems and in this short article, we offer a guide to choosing the right smart contract auditing company.

Proven track record

A company that offers smart contract audit services should have a proven track record, showing many case studies that confirm the company has the necessary experience. You should carefully inspect a potential provider’s portfolio to ensure that they have the relevant experience to carry out the audit.

Compliant with regulations

As you would expect, there are many regulations in the blockchain security industry and it is paramount that an audit company fully complies with these regulations. Security is everything with blockchain and an auditing company should have the necessary qualifications to work in the field. 

Client testimonials

Any successful smart contract auditing company would have an impressive client list and positive testimonials with satisfied clients, which brings with it peace of mind, knowing that the provider has a good track record. When researching websites, for example, always look for case studies and client testimonials.

Prompt and professional communication

When dealing with a smart contract auditing company, you should receive prompt and professional communication from the initial contact until completion of the project. Ideally, you would be dealing with a single person, which makes things much easier, while post project support should also be evident. Click here to find out how e-commerce is being improved using blockchain technology.

What does a smart contract security audit involve?

In order to audit smart contracts, the following would be carried out:

• Checking for logic errors – Flaws in a contract’s logic can lead to exploitation.
• Denial of service attacks – These are attacks that can render a smart contract unusable.
• Access control issues – If unauthorized people can access the data, this can have disastrous consequences.
• Re-entrancy attacks – This is when an attacker repeatedly uses a vulnerable connection to drain funds.
• Integer overflow/underflow – An investigation on how numbers are stored on computers.

Of course, every project is unique and an established smart contract security audit would be tailored to suit the contract. 

The importance of early intervention

Failure to have a security audit on smart contracts can lead to costly damage, which is why you should find a suitable smart contract security auditor as soon as your project is ready for launch. Flaws in smart contracts can result in the loss of your company’s reputation, which is something to avoid at all costs.To conclude, choosing the right smart contract security auditing provider is a critical component to ensure that your blockchain project is secure and the best way to start your search for the perfect security partner is to search the Internet to find an established smart contract security auditor. Browse websites until you find what you are looking for and take the first steps to securing your blockchain.