Audit

Audit

Audits are used to find potential bugs or problems that may exist in the code before they are live. Developers can perform this on both systems and applications. Audits can often be conducted by third parties, which is helpful since they guarantee that the process will be unbiased and effective. Auditing has become a common practice in the blockchain space. Projects use auditing to verify their smart contracts, provide peace of mind for users and deliver more guarantees for token holders.

There are two options for auditing code: manual and automatic. Manual analysis is the most effective, but can take significant time to do and requires a mid-size development team to execute. The less time-consuming option is automatic auditing which may not be as effective but it makes up for it by being able to be completed with a small development team Automatic code analysis enables quick but effective code assessment. Traditional businesses often favor automated code analysis, but for crypto projects it is necessary to manually review the code. This is because there are a lot of opportunities for bugs that are very costly - such as in decentralized finance projects. 

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