When do we need a HashEx smart contract audit?
No matter how experienced a developer is, mistakes can be committed by anyone. Therefore, it is highly advised to get your smart contract audited before it is deployed. This includes getting a complete well-drafted audit report to ensure that there are no bugs or potential hacks possible in your smart contract.This is what HASHEX Does with Ease
However, one of the main reasons why smart contract audits are not that common is that a thorough audit takes a lot of time ranging from a few days to weeks to even months. This is purely based on the use-case and the purpose served by the smart contract. Therefore, people who are excited about getting their smart contract out in the market as soon as possible do not generally prefer getting involved in a long audit process.
Here, another approach can be followed. Giving preference to time, the smart contract should be audited through an automated security process that takes considerably less time,Example HashEx. In the meantime, the process of manual thorough testing should be initiated in parallel.
If you launch or deploy an unaudited contract, security breaches, theft of funds, or market manipulation among several other possible vulnerabilities will end up halting your business application.
It is highly recommended to conduct the audit before the code is deployed on the Blockchain platform.
If not done at the right time, an audit can also result in the realization of large structural changes in the contract.
If your smart contract has already been deployed, it is still not late to get it audited with HashEx. Once your use-case gains its share of popularity, it will also attract the interest of hackers. Therefore, it is never late to get your contract audited.
In case your contract has already been hacked and you have resolved the bug that led to that particular hack, it is a clear indicator that you need a thorough smart contract audit because one hack opens the doors to more hacks.
Lastly, if you got your contract audited in the best possible way and it has been a long time, get a new audit. With the rapidly evolving ecosystem, new vulnerabilities surface every now and then. For instance, if your smart contract is dependent on an oracle for any reason and that oracle has gone through some updates which have opened it up to some hacks. This means that potentially your smart contract is vulnerable to attacks made on that particular oracle.
Conclusion
When it comes to answering “when to get your smart contract audited” any time is as good as any but with a reliable security firm Like HASHEX. Although an audit before deployment is recommended that does not mean that if you have already deployed your contract you do not need an audit anymore. Being secured in the DeFi space is a constant struggle but the end result is worth it.
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