SMART CONTRACT AUDIT

Documentation: The first step of an audit is to gather all relevant documentation This includes the white paper, codebase, and any other material related to the smart contract. Through reading the design documentation, the auditor can gain a high-level understanding of the blockchain application.  

Without access to documentation, the auditors will have no way of knowing what the smart contract is designed to do. Documentation, including a full specification for the project, is essential to the auditing process. For auditors to see the code working as intended, they must know what you want the code to achieve.  

In this stage, the developers and auditors must agree on a code freeze. No more code will be written, or the contract audit will not consider any code written after that point.  

Estimation: Give a preliminary estimate depending on the scope of the work, Considering business complexity, business domain and customer demand. 

Testing: Once the auditor has a good understanding of the code and the application, they will run automated tests with various tools. This is by far the easiest way to detect potential issues. The auditors will take a range of steps, including integration tests exploring large amounts of code, unit tests looking at individual functions, and penetration testing to probe for security vulnerabilities.  

Line coverage is a great way to measure how well the tests cover the code. High line coverage indicates that the tests are doing a good job of exploring all of the lines of code in the application. After the automated tests are complete, the auditor will move on to manual testing.  

Review of Code: Even though automated tests can identify possible vulnerabilities in the code, they cannot understand what a blockchain developer is trying to achieve with their application. They also can turn up false negatives. This shows why a manual review of the code is essential. By reading the code and understanding how everything fits together, auditors identify potential issues that automated tests miss. When an audit team analyzes the code, they can refer back to the project specification and any other supporting documentation to see whether the code performs as it should. A mixture of manual and automated testing is vital to ensuring nothing slips through the cracks. 

Resolve issues: Once the auditor has found issues in the code, they will work with the project team to resolve them. This process can be long and difficult, but it is essential to the success of the project. By resolving all issues, you can ensure that your smart contracts are ready for deployment. When it comes to blockchain applications, security is of utmost importance. That’s why it’s essential to have a team of experienced auditors help identify and mitigate potential issues with your code. Before beginning the deployment process, make sure that you have allowed enough time for a full security audit.  

Audit report: Once the audit is complete, the auditor will provide a report detailing their findings. This report will be a valuable resource for the project team and anyone else involved in the application. It will help to identify any potential issues that may have been missed and provide a roadmap for resolving them.