{"id":83133,"date":"2023-07-07T23:02:13","date_gmt":"2023-07-07T23:02:13","guid":{"rendered":"https:\/\/www.techopedia.com"},"modified":"2023-07-07T23:02:13","modified_gmt":"2023-07-07T23:02:13","slug":"smart-contract-security-audits-best-practices-and-vulnerability-mitigation-techniques","status":"publish","type":"post","link":"https:\/\/www.techopedia.com\/smart-contract-security-audits-best-practices-and-vulnerability-mitigation-techniques","title":{"rendered":"Smart Contract Security Audits: Best Practices and Vulnerability Mitigation Techniques"},"content":{"rendered":"
Smart contracts<\/a> have become an integral part of the booming\u00a0cryptocurrency<\/a> market. At a base level, they are automatically executing contracts coded and stored on the blockchain<\/a> that provides the basis for creating all manner of functions, including building decentralized applications<\/a> (dApps), creating ERC-20 tokens, and minting non-fungible tokens<\/a> (NFTs).<\/p>\n All smart contracts on Ethereum<\/a> are open-source, meaning that their source code is publicly available and can be viewed and audited by anyone (though they sometimes need to be decompiled<\/a> first). While this offers some levels of transparency, it also exposes\u00a0vulnerabilities<\/a>\u00a0in the smart contract code, potentially enabling hackers and malicious users to compromise them.<\/p>\n Due to the increasing complexity of smart contracts, security issues and bugs are quite common, especially in cutting-edge applications. Therefore, it is crucial to conduct regular audits to identify and address any vulnerabilities. It is also important to understand the nuances of smart contract security and implement best practices to mitigate potential risks.<\/p>\n This article explains smart contract audits and how they contribute to enhancing smart contract security.<\/p>\n