Smart Contract Auditors in the UAE
Smart contracts are the latest revolutionary change in the world of business where computers take over the transactions and contractual terms between two parties. Of course, as the technology got advanced, the security vulnerabilities also increased, and the parties involved are not able to know which one can be trusted and which one they can rely on. HLB HAMT’s efficient IT Audit & Assessment team can help you secure smart contracts by helping you periodically perform smart contract security audits and do the necessary penetration testing. This is mainly done through running automated security scans on the smart contract. Our team can advise on all the right fixes and help you formulate a strong security policy and how to prevent or rather be proactive against the impending cyber-attacks. Some of the usual security attacks include Re-entrancy attacks, Reordering attacks, short address attacks, Over and underflows, Replay attacks, etc.
What is a Smart Contract Security Audit and its procedures?
In a decentralized Finance ecosystem, smart contract security audits are getting extremely popular and today more and more people are considering this as a mandatory review procedure before shelling their money into a blockchain app or a project. The amount of data transferred or transacted through these smart contracts is humongous. This also means such contracts become extremely vulnerable to malicious attacks. Most hackers look for small coding bugs or issues,
We usually have these steps for a smart contract audit
- Our team collects the smart contracts for an initial scrutinization procedure
- We then perform a comprehensive audit process mainly to unearth logical issues, vulnerabilities, and areas that need betterment within the same. The idea is to ensure that not a single security loophole should be there after the audit
- Our team then will present the audit report which includes the findings and remedial actions for the project team to act upon
- The project team then makes the alteration based on these suggestions and the vulnerabilities detected
- Our team then do another round of testing and submit our final report, with any possible remedial changes, if required and such a small error can lead to a big breach.
Our experience and expertise in smart auditing can help you evaluate your complete specs and project performance so that our team can give you crucial inputs and recommendations to improve your smart contracts. Our auditors will create a detailed and comprehensive audit report after conducting tests, automated & manual analyses etc. And our job doesn’t end there usually, we can sit with your team and discuss the issues in detail regarding the potential vulnerable areas and issues pertaining to the smart contract.
Frequently Asked Questions
What is a smart contract audit?
A smart contract audit checks for any kind of vulnerability and issues associated with the stability of smart contracts, ensuring there are no chances of any data breaches within the system.
What is the duration of a smart contract audit?
The duration completely depends on how complex and long the smart contracts are. Based on our experience so far, it can take anywhere between 2 days to 2 weeks for the audit report to be submitted although in some cases we also undertake emergency audits as well for simpler smart contracts.
How much does it cost?
Again, the overall cost completely depends on how complex the smart audit is, the length is also a factor. You can contact our team for a free consultation and mould your audit according to your requirements
Latest insights, case studies and news from across the network
HLB Monthly Insights
The UAE job market is projected to keep improving in 2022
Despite the difficulties we had owing to the Covid-19 pandemic, the UAE experienced a substantial resurgence thanks to a strong reaction from the government and the medical missionaries.
HLB Monthly Insights
Embracing Block Chain Technology
The global blockchain market has been witnessing rapid growth in the last couple of years. According to Gartner, the business value generated by blockchain
How to build a successful Automation Strategy in UAE
Implementing an intelligent automation strategy in your organization can provide numerous advantages. Several critical elements and aspects will determine whether this initiative succeeds or not.