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How to Securitize Your Smart Contracts

Businesses using blockchain and crypto technologies must always be mindful of securitizing their smart contracts to maintain business productivity. Similar to other developer-created systems and technologies, businesses benefit significantly from running the necessary updates and quality checks across all of their brand’s products and services.

There are numerous different ways to securitize your smart contracts, stay up to date on the latest smart contract security practices, and prevent common issues and bugs by using third-party tools suited for your business needs. To learn more about blockchain development services and the crypto technologies best suited for your business, enterprises may reach out to a local Los Angeles blockchain development company, like SunlightMedia.org.

Smart Contract Security Concerns

Spending time understanding how smart contracts play a vital role in your business may significantly benefit your business when running routine audits on your blockchain and crypto technologies. In general, a smart contract runs on blockchain programs and automatically executes a function once specific criteria, conditions, scenarios, or agreements are met with single or multiple participants or machines. While the security of business systems is essential, it is also worth considering what is the best strategy for a successful blockchain marketing campaign, before deciding on the security of relevant products and services offered from your brand.

These smart contract audit practices and tools assist blockchain and crypto developers with better analyzing code structures, defining inheritance maps, testing scenarios of inputs and outputs, and running possible scenarios to ensure smart contract functionality and efficiency. Depending on the auditing system used, they may be downloaded onto local Linux, Windows, or Mac servers and vary in complexity, comprehensivity, and user-friendliness.

Below is a list of some common smart contract errors and bugs that may be identified or prevented from running smart contract audits.

  • Reentrancy bugs
  • Unauthorized access
  • DoS bugs like external calls and iteration gas overflow
  • Code architecture logical errors
  • Overflow and underflow Integers
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How to Securitize Your Smart Contracts

While there are numerous resources available for blockchain and crypto businesses to research which auditing software and tools prove most useful for your industry or business, there are multiple popular tools in use within the market that have demonstrated a positive reputation of reliability and user-friendliness within the blockchain development community. These auditing programs may assist blockchain and cryptography developers with visualization, static and dynamic analysis, classification identifications and assigning, preparing smart contracts for testing, and diagnosing linters and filters.

Visualizations Audits

As a blockchain or cryptography developer, it is essential to review code structures, snippets, and functions to ensure architectural integrity. With these visualization programs, businesses and developers may assess different programming applications Eretheum Virtual Machine (EVM) Bytecodes, smart contracts, and control flows with in-depth reports, charts, and graphs.

For instance, the Solidity Visual Auditor enables developers to use Visual Studio Code’s interface while running auditors with the Ethereum Solidity Language functions. The Solidity Visual Auditor extension enables users to perform development directly from the command line of their preferred servers and platforms to write code, highlight syntax errors, decompile programming structures and receive additional documentation implementation assistance.

In more detail, the Unified Modeling Language (UML) assists software engineers to standardize programming scripts for easier configuration and code implementation. Depending on the visualization auditing tools paired with this system, users may review smart contracts through cell and inheritance graphs, function summaries and tracing, and abstract syntax trees.

Static and Dynamic Analysis

Although there are various visualization programs available, software developers may recommend or make use of a static or dynamic program diagnostic tool to discover any potential code structure vulnerabilities. While a specific smart contract may appear to be structurally sound, certain software or applications may not be compatible with that version of the documentation. For double-checking programming architecture, ensuring compatibility of smart contracts across various platforms and networks, and detecting potential bugs or errors on a more routine basis, these audit types prove necessary for businesses.

Slither, a static analyzing framework offers blockchain engineers the ability to run detectors for identifying and value-tracking Solidity issues defined under Python programming languages. Along with visualization tools, the program diagnoses smart contracts scripts at a rapid pace. As an automated smart contract security program, users may quickly review and identify potential bugs in existing code and then optimize the application o run smart contracts efficiently and effectively.

Manticore, a dynamic analyzing analysis framework with binary diagnostic tools and EVM support may also be used in conjunction with businesses existing auditing software for improving or maintaining smart contract performance. Software engineers may check execution reports directly from their command line, monitor Python API’s scripts for potential eros, and run different property tests on various Mac, Windows, or PC operating systems.

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Classifications

Reasonably, developers that identify errors solely, or through the use of an auditing program, may require more information to address the issues presented in Smart Contracts. For this reason, smart contract developers may run classification audits for labeling the errors they find, which in return expedites the maintenance work involved with smart contract development.

Two popular sources are the SWC registry and pages registry and repositories which infer real-life smart contract vulnerabilities that may apply to your smart contract development work. When searching for the bug classification, smart contract engineers may review SWC identifiers (ID), weakness title, CWE parent relationships, and test cases.

Testing

Software engineers working with smart contracts run audits and tests on blockchain and crypto programs to ensure that numerous code sequences function accordingly when requested. Along with indicating the success or failure of smart contracts during implementation or development, these testing audits may also report the frequency of failed attempts and reported bugs. This report type offers smart contract developers the opportunity to reassess the program in full or run tests on specific programming structures for optimization.

Linter and Formatters

In most cases, developers may rely on other systems or smart contract coding engineers to review their code before publishing live smart contracts. In this scenario, it is best to structure the code to the expected quality to ensure that most developers may proficiently read, understand, and review the smart contract scripts

In detail, these linter and formatting auditing systems highlight smart contract codes that follow and adhere to the formatting standards, code quality, and styling regulations. Along with providing guides and signals to improve unusual coding practices, these linter and formatting audits may also enhance the security and validation of these codes when called or executed. In essence, these tools enable developers to establish clean and readable code that performs as expected and follows the appropriate security parameters to ensure business productivity.

Conclusion

Overall, several audits may be conducted by businesses to ensure that blockchain, Ethereum, and cryptography brand-related systems and technologies perform efficiently and effectively. Along with using auditing software for smart contract development and execution, blockchain companies may refer to numerous resources online for references, guides, and recommended tools to optimize smart contracts for your business needs. As a result of integrating audits into development operations, systems appear more reliable to the end-user, brands appear more trusting, and businesses may maintain business productivity.

Bio

Jhonathon Badalof works at Sunlight Media LLC in Downtown Los Angeles, California. As a Project Manager, Jhon collaborates with clients on website and app design and development, marketing, and creative solutions for campaigns. In addition to Project Management, Jhon is a content writer who writes articles that rank well on Google and other social media platforms. His skill sets include social media marketing, eCommerce, brand development, programming, web design, and graphic design.

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