Senior Product Marketing Manager Soelene Justus explains why auditing your source code is the best way to start your blockchain project.
Your digital assets’ core lies within your smart contracts. They can either fulfil their intended purpose or present vulnerable spots for malicious hackers to explore.
Whether you intend to launch your smart contracts onto public or private chains, starting with the proper foundation will safeguard your assets and, just as in traditional systems, cyber security plays a vital role in this, but even more so in the blockchain world, where your code quality and resilience can dictate the future of your portfolio.
In 2022 alone, almost £4 billion of cryptocurrency was stolen, much of that due to smart contract exploits.
In Q3 of 2023, $700 million was lost to hacking attacks. While the reasons for these losses vary from key mismanagement to social engineering, one of the most preventable is smart contract coding errors.
At Quant, we rely on a team of expert engineers who have experience working on some of the world’s most complex projects. We still subject our smart contracts to external auditing to verify and improve the security of our smart tokens.
It is always important to have a skilled team build your smart contract, but it is equally important to conduct external testing to detect any issues, mitigate risks, and enhance the effectiveness of future builds.
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