- Why audits matter: The safety and security of smart contracts (self-executing contracts with the terms written in code) are essential, as poorly written code can lead to hacks or exploits. Before interacting with DeFi protocols or interacting with dApps, check if they’ve undergone a security audit by reputable firms like Certik, Quantstamp, or Trail of Bits.
- Known vulnerabilities: Common smart contract vulnerabilities include reentrancy attacks (e.g., the DAO hack) and issues with token standards or ownership access. Many projects are now conducting bug bounty programs to incentivize white-hat hackers to find vulnerabilities before malicious actors do.
Smart Contract Audits and Security