Users increasingly rely on blockchain as a secure and private space for transactions. Thus, a typical blockchain app or platform contains sensitive user data and financial assets. Transactions are performed with the help of smart contracts – self-executing pieces of code that contain conditions for the transaction to occur. Many of them concern large sums of money, so a single bug or vulnerability can undermine the transfer’s security. A smart contract audit company checks these systems for cybersecurity and intactness to attacks, thus ensuring that the users’ funds and assets are adequately protected.
Smart Contract Audit
A smart contract audit helps keep your blockchain product safe and intact. This increases your users’ trust and protects on-chain assets from theft or abuse. Entrust smart contract auditing to 4IRE experts to ensure end-to-end protection.
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Don't let hackers steal your tokens or coins of smart contract. Find risks, bugs and the vulnerabilities of your smart contracts with 4IRE high-qualified team.
Who Needs to Audit Smart Contract
Every business owner in the blockchain industry needs to take security seriously. DeFi products, FinTech apps, cryptocurrencies, NFTs, and many other blockchain-powered assets bear considerable financial value. Thus, they need to be adequately protected from theft or manipulation by hackers. Audits of new blockchain projects are vital for:
- Startups planning an ICO
- dApp developers
- Smart contract programmers
- CEX, DEX, and NFT marketplace owners
To know for sure that your blockchain product is hacker-proof, you need to conduct an end-to-end smart contract security audit. The gains you may expect from turning to professionals are smoother smart contract operation, effective smart contract code, bulletproof security of the system, and user trust.
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Our smart contract auditing services company helps to develop better, bolder, and smoother FinTech software and complex financial platforms that will position you among the industry leaders.
Types of Smart Contracts Attacks
Time stamp dependence
Since the timestamp indicating the block's retrieval can be changed, a miner can manipulate that data to change the block's information. Once the timestamp undergoes a change, it may erode the blockchain's immutability.
Weak protocol
Blockchains differ from databases and networks in their operation by protocols (PoW, PoS, DPoS, Byzantine Fault Tolerance, etc.). Thus, a 51% attack, Sybill attack, or denial of service can turn the whole blockchain down. All these attacks aim to gain complete control over the network.
Flawed gas processing
Every blockchain block has a cap on the amount of gas users can spend when transacting with it. Thus, if the gas fee is miscalculated, a transaction may be sent into an infinite loop of failing transactions vulnerable to DDoS attacks.
Unsafe external call
This risk occurs when contract A connects with contract B, and the latter tries to connect to contract A before contract A updates after the initial transaction. The auditor should check the smart contract's external call vulnerability to avoid this problem.
Overflow/underflow
Integer overflows and underflows are a serious threat to smart contract security, as blockchains mostly contain unsigned integers. In case of an overflow, benign-seeming code paths become highly susceptible to theft and DoS attacks.
Bad randomness
Randomness is hard to achieve, especially in the Ethereum network, because of public access to the hard-to-predict values in Ethereum and miners' influence on the blockchain. Thus, with predictable sources of randomness, hackers can replicate and attack the blockchain's function relying on unpredictability.
Our Smart Contract Audit Work Process
Requirement Negotiation
The 4IRE team needs to understand the scope of your requirements and expectations from the provided smart contract audit services.
Testing
Your smart contract's inner logic and code undergo testing to ensure that all units work properly. This is achieved via unit testing.
Audit
A manual audit follows unit testing to determine the smart contract's immunity to a range of cyber threats and attacks.
Audit Report
An intermediate report is prepared based on the audit's unit testing and risk detection stages, together with improvement guidelines.
Final Review
The final check is done after smart contract vulnerability corrections are introduced by in-house experts or 4IRE blockchain experts.
Benefits of a Smart Contract Audit
We have a top-notch set of tools for analyzing blockchain security and smart contract audit, and our experienced auditors of smart contracts work closely with them. This guarantees that your blockchain application is fully prepared for launch and designed to safeguard users.
Avoid Costly Errors
Once your digital product is launched to the marketplace, a single bug in its code may ruin everything. Don’t put your project and users’ assets at risk by completing thorough smart contract auditing before active use of the system.
End-to-End Scanning
By using automated smart contract audit packages from reputable providers, you can continually guarantee the absence of cracks in your security long after the product’s launch. Use the affordable plug-and-play API solutions for uninterrupted auditing.
Manual Review by Experts
Every blockchain smart contract audit is performed with the help of several automated tools to detect vulnerabilities and issues, and the final check is done manually by senior experts from the 4IRE blockchain development team.
Code Verification
The smart contracts security audit software provided by 4IRE can integrate into your system, giving you improvement suggestions in the process of new smart contract creation. You can correct errors as you go without the need to wait until deployment.
Report with Recommendations
By partnering with our smart contract audit firm, you get a detailed summary of all vulnerabilities and risks identified in the check process. Our team also compiles a set of workable recommendations for removing vulnerabilities and enhancing your system’s security.
What’s in the Audit Report?
At the end of the check, the client gets a detailed smart contract audit report enumerating the results of unit and integration tests of the system. Such a report also contains the outcomes of automated tests for bugs and analysis of the code’s inner logic and efficiency. It includes all findings of testers working with the assigned smart contracts relating to their security and immunity to attacks, complemented by a set of applied recommendations for fixing the detected errors.
Our Smart Contract Audit Cases
WEWAY
WeWay is a unique entertainment ecosystem offering new interaction mechanisms and innovative tools for increasing audience reach and monetizing content. A comprehensive security audit by the 4IRE team helped the project attract more than 4 million investments.
INERY
The Inery Blockchain offers a decentralized database management solution combining blockchain technology and distributed database properties. Inery enables data owners and users to efficiently store valuable and private information. After conducting an audit with the help of the 4IRE team, the project managed to attract more than 2 million investments.
BitRent
BitRent is a blockchain-based platform aimed to attract commercial and residential property investments at an early stage of construction to receive maximum profit. After the comprehensive assessment of their system, the platform raised around 40 million funds.
Why Choose Us?
If you're looking for reliable smart contract audit services delivered by seasoned professionals, 4IRE is definitely the right choice. We have been at the forefront of blockchain development for over a decade and have dozens of experts with years of hands-on experience in the team. Our coders, analysts, and blockchain engineers know what a perfect smart contract looks like, and we're ready to improve yours for a smooth market launch.
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FAQ
What is auditing in cryptocurrency?
Smart contract audit companies typically expose your smart contract code to various tests and checks. This is done to ensure that your system will work safely and won’t pose any risks to its users. As people exchange money and assets of value on blockchain-based platforms, they need to be perfectly sure that your product is safe and immune to service attacks, transaction ordering threats, and the like. Positive audit results suggest that your system is safe, thus increasing user trust.
How much does a smart contract audit cost?
The smart contract audit price depends on the project’s complexity, scale, and estimated deadline for the review. The minimal budget for a comprehensive review is around $5,000, which may go up to $15,000 because of additional factors. Small and simple dApps can be checked quickly, with a small budget for the audit, while a large-scale NFT marketplace or a crypto exchange requires more time and a more extensive audit budget (up to $100,000).
How long does a crypto audit take?
The timing of a tech audit smart contract also depends on the project’s complexity. A non-sophisticate dApp or crypto wallet may take 24-48 hours to check, as it doesn’t involve complex inner logic and has only a couple of smart contract functions built into its functionality. NFT marketplaces, P2E games, and crypto exchanges, in their turn, involve many more functions, a large internal infrastructure, and have more entry points for hackers, thus requiring up to a month of reserve time for comprehensive auditing.
Why do we need a smart contract audit?
A professional smart contract audit gives tangible evidence of the degree of your system’s security, thus helping you deploy the project without a doubt. An audit is also necessary to ensure that the code is correct, efficient, and operates as it should, as blockchain apps have no supervisory authority. Smart contracts are self-executing, and the proper functioning of any digital product is impossible without smooth-running and correct contract code and logic.
