Course Content
What Is a Smart Contract Security Audit?
A smart contract security audit provides a detailed analysis of a project's smart contracts. These are important to safeguard funds invested through them. As all transactions on the blockchain are final, funds cannot be retrieved should they be stolen. Typically, auditors will examine the code of smart contracts, produce a report, and provide it to the project for them to work with. A final report is then released, detailing any outstanding errors and the work already done to address performance or security issues.
What Is a Smart Contract Security Audit?
About Lesson
The process of a smart contract audit is fairly standard among audit providers. While each auditor’s approach may differ slightly, the typical process is as follows:

1. Determine the scope of the audit. The smart contract and project specifications are defined by the project (their intended purpose) and the overall architecture. A specification helps the audit team understand the project’s goals when writing and using the code.

2. Provide an initial quote based on the amount of work needed.

3. Run tests. Their exact nature will change depending on the auditing team, their analysis tools, and their methods. Usually, both manual and automated tests are carried out.

4. Create a first draft of the report with errors found and provide it to the project team for feedback and follow-up fixes.

5. Publish the final report, considering any action taken by the team to address raised issues.