danbrown

We have now dived into the era of digitized smart contract deals with blockchain inception. Smart contracts are built on the blockchain framework, by which they adopt the features of the technology such as immutability, P2P transactions, tamper-proof, ergonomic reconciliation, and much more. Smart contract auditing is the process of analyzing the code base and rectifying the errors in code, functionality bugs, design issues, security issues, and vulnerabilities. It's advised to deploy smart contracts only after the smart contract audit company does professional auditing. In this blog post, let's explore how professionals do smart contract auditing! A step-by-step process of professional smart contract audit Specification documentation Smart contract audit must be done after the code-freeze(i.e., the development code has reached its final draft stage without any potential flaws). Once the code is committed by the development team, both the auditing and development team must agr...

The word ‘hack’ is ambiguous in the digital realm. It takes a variety of meanings under different contexts. But when it comes to the blockchain, to hack is to have power over it, thus possessing control over more than 51 percent of the computers interlinked to it, which is impossible. How does blockchain work? The Blockchain technology   is an immutable ledger. A set of entries is called a block and multiple blocks linked one after the other together constitute the blockchain. They are shared with all the users in the network. The ledger data is validated through a common consensus mechanism. The entries on the ledger are made immutable by several computers performing computations to validate them. This is called hashing the block.  Hashing involves crypto-encrypting the entries. Each block has a heading entry that denotes the link to the previous block. This helps in identifying the sequence. Hash algorithms ensure the changes made during encryption by subsequently changing ...