Users of major audit firms face challenges in conducting smart contract audits due to high costs, overemphasis on approval, and delays in product launches. This article discusses the vulnerabilities in governing smart contracts and the need for more efficient audit processes.
DApps handle user assets through on-chain transactions , making projects with vulnerabilities in their governing smart contracts susceptible to critical risks. As a preventive measure , smart contract audits are conducted. However, users of existing major audit firms face several challenges: The cost of traditional audit firms is very high, ranging from tens to hundreds of thousands of dollars.
There’s an overemphasis on obtaining a “stamp of approval” from major audit firms, often sidelining the primary goal of enhancing security. Engaging an audit firm can delay product launches and token listings due to the time taken for audits. The accuracy of reports and communication costs can vary significantly depending on the auditor handling the audit
Dapps User Assets On-Chain Transactions Vulnerabilities Smart Contracts Risks Preventive Measure Audit Firms Challenges High Costs Stamp Of Approval Security Delays Product Launches Token Listings Accuracy Communication Costs
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