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Staying ahead of competitors becomes a need for an hour, whether it's related to technology or services. Looking for DeFi Audit services is not an exception in the changing world. It ensures the integrity and security norms of blockchain-based projects.
Today, due to the high popularity and the rising demand for blockchain-based projects, hacks and scams are also at an alarming stage. It leads to the urgent need for audits or formal verification of codes before and after deploying. If your business is facing some challenges or leading a sensitive data dealing business, then DeFi auditing becomes an essential norm for your business to survive and stay ahead of others. Let’s check out more about DeFi Audit Solutions and how a DeFi development firm can help you.
Want to make your DeFi App more secure? We at Suffescom Solutions specialize in providing on-demand DeFi Audit Services. Request a quote for building safer applications now!
You can also schedule a call with our industry-leading experts to learn more about your business. We have solutions for everything from development to audit and bug removal to handling technical issues affecting your business performance. We have already developed and designed various Blockchain-based projects like the NFT marketplace, web3 gaming solutions, and functioning on metaverse-like technologies. Plan an in-depth project analysis to find and fix issues quickly - we have solutions for everything.
Defi audit refers to the auditing of smart contracts running on a blockchain-based platform. It (automated smart contract) enables smooth and accurate information flow on the blockchain platform. In other words, anyone can use the same information without harming or manipulating it. But with the passage of time and more information flowing on any network, bugs can be found on any network that can hamper your work.
Putting DeFi Audit on the job for thorough checks and analysis of the code performed by auditors can prevent your project from this situation.
Companies are now using blockchain technology-enabled smart contracts to meet certain parameters and thresholds. It also helps them to collect payment from customers at a given time. Even if something goes wrong or there are delays in payment, smart contracts trigger into action and send an email to users to inform them of the delay. The most prominent example in this range is shipment delivery. If the delivery goes beyond a particular date, it will inform users how long it will take to deliver and for what reasons. It helps users to take prompt actions.
Derivatives are financial instruments that are traded in the market for speculation. The aim of these instruments is to reduce risk and ensure both parties should agree on the same conditions. For instance, farmers can step into a contract with buyers to deliver a certain quantity of wheat during harvesting seasons. In this regard, they can advance too. The best thing about these smart contracts is that they cannot be modified as per buyers' needs once they step into them. Therefore it acts as a trustworthy instrument. But with the passage of time and changing industry norms, these, too, need auditing from time to time.
Creating a digital identity is challenging, especially when then there is no authority to verify the users. But in the case of crypto wallet account creation or banking or other financial institutions, digital identity plays a prominent place in fulfilling transactions. But decentralized applications make it possible to create a digitally verified identity. Information stored in digital contracts is hard to manipulate or misappropriate data.
A DeFi smart contract checks for compliance and know-your-customer (KYC) information. Its use cases involve industries like healthcare, financial services, and real estate. For instance, financial institutions can check deFi to know whether the person is on the blocklist or not. Is he eligible for loans or not? Whereas healthcare can find out allergy issues in some patients. Healthcare can share patients' records over the internet with the patient’s approval for their past records, such as medical history and root causes of issues, to enable further treatment. The best thing about it is that no one will be liable to make a complete record of anything.
The process of DeFi audit covers a major dimension of security issues, business logic, data maintenance, and infrastructure safety. To categorize the whole process, we crafted the process into different phases. Let's check out these.
Before digging into the coding audit process, auditors wish to sit with the development team to understand the codes, underlying architecture, and intended behavior of the smart contract. Sometimes the auditor creates detailed documentation, such as a whitepaper, to ensure everything should go flawlessly.
As the name suggests, codes freeze, which means codes that can’t be subjected to any more alterations. These are the final codes decided by auditors to alter any technology project.
The third step is where the auditing team looks more closely at codes to understand the complete process. These involve designs that developers use to create libraries and to check stages or testing stages. The whole process of coding is analyzed, and decided how it will function.
To understand business logic, our smart contract auditor used advanced technologies and analysis tools such as - MyThrill, Hyperledger Caliper, Manticore, etc. This enables auditors to understand bugs and critical issues on the platform.
We believe only automated analysis is not enough for your system to take action. Your business is important to us too. Therefore, we choose to conduct a manual analysis to review the codes. We have a team of 500+custom blockchain development experts and a special team for platform testing. Our exclusive QA team function on commenting code, code structure, naming variables, and the avoidance of replicated code.
To make an audit a smart audit, we perform various functions to separate vulnerabilities in the crypto world; it is essential to separate them with tests. These could be re-entrance, gas limit issues, timestamp dependencies, and others. We conduct a special auditing session for these too.
Sometimes auditors opt for deploying the code on a local testnet to run their tests or perform their white-hat attacks. This is a crucial stage to know your platform functionalities in the testing phase.
Build high-performing smart contracts. Get expert help to identify issues, bugs and vulnerabilities with the best smart auditing services. Contact us now!
If things go well, we represent the first audit report to the client for their review and recommendations. Our auditing team mentions all the findings and asks you to review them the same.
Once the auditor report is submitted, our blockchain developers make necessary changes on the platform and fix issues to run codes flawlessly. Again we share reports with clients for their final review.
Once all the issues are resolved, we combine detailed reports from analysis to fixing issues for the client. Our report involves an in-depth analysis of what we have done to protect your platform.
Note: The steps could vary depending on platforms and their needs. But we ensure we fulfill above mentioned details to deliver you a 360-degree secured platform packed with the latest updates.
The cost of auditing a DeFi smart contract is a major concern among blockchain project owners. Remember, its cost varies with its type and complexities. It also depends on the logic and documentation provided by developers to understand your projects. The auditing method is another method that affects its pricing policy, like whether you choose our fixed price method or choose to go with renting a developer.
Under the lumpsum amount technique, our auditing and blockchain developers team understands your project and requirement and then quotes a price with project delivery time. You have to pay the fixed amount as per the decided terms and conditions and enjoy a 100% SECURED project on time.
Another way is hiring smart contract developers, for which you have to pay a certain amount according to rented hours. Our developers solely work on your project as per your decided norms. The method lets you enjoy customized projects. The amount may go under slight changes based on the number of hours spent on the project auditing.
Decide your development pattern and let us know!
Suppose you are struggling with the question of why you need to hire a DeFi auditing firm. Here is your answer.
Hiring a DeFi Auditing Firm can create a security shield around your blockchain project, making sure no third party tampers with the user-sensitive data on the mainnet.
DeFi Auditing Firm deploys the latest tools, libraries, and comprehensive solutions for your project’s surety and integrity.
A smart contract involves crypto transactions, KYC verification, and others on the blockchain network. It helps to safeguard your users and digital assets. Our smart contract audit services protect you from malicious hackers on the web.
We offer cutting-edge DeFi audit solution services to make your solution free from bugs, errors, and other vulnerability attacks. Let’s find out our a few services;
There are more than 100 vulnerabilities like Gas limit issues, Re-entrancy, and Front-running which affect smart contracts with the passage of time. We find and fix all the issues and make your platform a 100% secure place to conduct transactions.
Our detailed report involves effortlessly realizing and rectifying the vulnerabilities present in source code. We also include multiple leveled security references for an easy risk assessment.
Fuzzing allows the detection and implementation of bugs using malformed/semi-malformed data injection. It helps the applications against unexpected applications and codes behavior changes, which assists in aiding security to identify vulnerabilities and their root causes.
We conduct 100% security tests and find a detailed analysis of PoC for security issues. During our testing stage, we provide a complete report to the client to reverify the auditor's recommendations.
We care for your and your platform's needs. Hence we provide complete support for re-audit and free re-audit services in the future.
We understand your time is precious, so for us too. Therefore we provide 360-degree support around the clock for prompt issues resolutions.
Have a free consultation with our experienced team of auditors, consultants, and developers that sets DeFi security standards. Call now to request an audit!
To ensure everything goes well and your platform should function properly, it's a perfect time to hire DeFi Audit Solutions. Along with DeFi auditing, we also offer the following;
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