Smart Contract Audit
When Conditions are Met
A smart contract is a computerized transaction protocol that executes the terms of a contract to omit the services of a middleman.With a set of rules, the smart contract is designed to enforce the agreement if the contractual conditions are met, minimising the need for trusted intermediaries(middleman).
Why Do You Need Smart Contract Auditing?
large number of contributors and investors
to guarantee that the contracts are safe and
cannot be hacked.
The Significance of Smart Contract Audit
Privacy Data Protection enables employees,contractors
and business partners to securely use corporate data
taken from any application on any zero devices.
Banking
Global banks are already building proof-of-concept(POC) systems using a trade finance and supply chain platform that uses smart contracts.
Also, disruption is imminent for the banking industry as cryptocurrencies themselves have already had a big impact.
Insurance
Smart contracts are also being used for insurance policies for a reason. At the moment, the process for claims can take up to months and leave people with a shortfall while they’re waiting to receive reimbursement.
Insurance companies are constantly fighting fraud and false claims. Smart contracts can speed up the process while filtering out fraudulence, which is good news for everyone.
Transportation
The aviation industry is carrying out research into blockchain’s potential to store flight data and to use smart contracts to judge potentially conflicting data.
The objective is to use blockchain and the smart analysis of data to make flying much safer.
Fact Attacks about the Smart Contract
No Middleman
The autonomy of smart contracts eliminates the functionality of a third-party, which is cost efficient.
Protect the Trust
The documents are encrypted on a shared platform which is made accessible only to the relevant parties. This in turn will retain customer loyalty.
Not Secured
Blockchain is secured, but not the apps. As with all softwares, bugs in codes will result in vulnerabilities for the hackers’ exploitation.
About Our Smart Contract Audit
Companies that chose to forego the security auditing of their smart contracts ended up getting hacked. The lack of foresight in identifying this significance has resulted in substantial financial losses for these organisations. A smart contract audit mitigates the risk by having experts scour the code in securing the product.
Security is the foundation of trust, and blockchain applications depend on security for a smooth transaction.Understanding blockchain security benefits the ecosystem, with developers building safer products and businesses complying with ever-evolving regulations.
- Detailed Reports that clearly defines any backdoor and/or potential loopholes to prevent future Ransomware Attack occurrences
- Quick, Efficient and Effective – Data are recovered quickly using advanced technology and other cutting-edge methods.
- Experienced Security Researchers and White-hat hackers to ensure optimal success and results. NO DATA, NO FEE – No charges unless we help you recover your data.
Resources
E-Magazine
Apr, 2019
E-Magazine
Aug, 2019
E-Magazine
Feb, 2019