What is an Audit?

Audit

What is an Audit and why is it so important in the Crypto space?

This is a Guide on Audits.

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What is an Audit?

Put simply, a blockchain Security Audit is an extensive security evaluation of a protocol/blockchain’s smart contract and code. Audits will dig out any vulnerabilities and give clear recommendations on how to fix them.

Why is it important for every Web3 protocol to complete an Audit?

Well, there are two main reasons:

1. To guarantee the developers haven’t messed up any code before/during the launch of their smart contract/DApp which could affect any users connected to the protocol.
2. To ensure to the community, that there is no foul play or ill intentions of pulling/draining liquidity. If there was, it would be found in the code by the external auditing teams.

There are many reputable external Audit companies like Certik or Hacken that are used by some of the largest protocols in the world, like Polygon, Shiba Inu and many more!

It is clear that if protocols want to have a future, they better Audit their code to prove they are legitimate and secure.

Crypto can be a dangerous place and that’s why we have Smart Contract Audits.

If you want to look at a protocols audit, you can visit Certik or Hacken’s website to see the full breakdown!

That’s it! Thanks for reading! Have a look at our Guides section for more!

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