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What is a smart contract audit?
Let's first define a smart contract so that we may better comprehend audits. Smart contracts allow for the facilitation and verification of financial transactions by tracking the movement of goods and intellectual property.

It becomes necessary to concentrate on the security of the smart contracts because they entail money transactions.

In order to safeguard the funds invested in a project, the auditing looks at its smart contract. Once the hacker withdraws from contracts, there is no way to get their money back because all transactions on the blockchain are final.

As a result, the auditor scrutinises the code contained in smart contracts, assisting developers in finding errors and fixing them to avoid any big monetary loss.

How are smart contract audits carried out?
From project to project, different smart contract auditing techniques are used.

Both an automatic and a manual approach can be used to audit smart contracts, as will be covered below:

1. Manual Auditing
Each line of code is examined by auditors and subject matter experts to look for compilation and re-entry issues. Additionally, it aids auditors in identifying other security flaws like bad encryption techniques.

By reviewing the source code, the auditors perform manual code analysis to look for potential problems.

2. Automatic Auditing
In automatic auditing, the code tester makes use of bug detection software to identify the section of source code that is causing mistakes. Compared to manual editing, the software identifies weaknesses significantly more quickly.

However, the software doesn't always succeed in identifying every source code flaw, which increases the likelihood of a hacker assault.


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