2022 Overview of Smart Contract Security Audit Firms (Tools)

With the rise of Decentralized Finance (DeFi), which also brings the risk of hacking, the need for security audits is increasing. smart contract audit services can be done manually or automatically. These companies research smart contract code to detect vulnerabilities and security issues in the project, making it safe for public use.

There are several reasons why you should choose a security audit company:

• Identify system deficiencies;
• They are highly professional and will keep your funds safe;
• Verify your wallet address and check for typographical errors;
• Identify any errors in the code and make sure it is safe to use the code when transferring funds.

As demand increases, audit firms are tasked with securing smart contracts . This article lists several audit firms (tools).

audit firm

1. Certik

CertiK is a blockchain security company. It pioneers cutting-edge formal verification technology on smart contracts and blockchain networks. Professors from Yale and Columbia University founded the company in 2018. Its main task is to protect the online world.

According to its website, the team has conducted more than 1,800 audits of well-known protocols worldwide. Binance, OKEx, and Huobi are all top crypto exchanges that CertiK has acquired. For example, the Binance Accelerator Fund uses CertiK’s audit to ensure that the top platforms it invests in are safe.

CertiK also serves over 100 top blockchain and DeFi protocols. They include, but are not limited to, Shapeshift, Blockstack, Tera, Binance, and Bancor. CertiK also audited Binance Smart Chain’s smart contracts, among others.

Certik performs a comprehensive security assessment of your smart contracts and code. It then identifies vulnerabilities and makes recommendations. You can request a quote at CertiK. Once you submit it, the team will start reviewing it.

2. Chainsulting

Chainsulting is a leading security auditing firm that verifies the security and code integrity of smart contract audit. In addition to auditing, they also provide consulting and software development. The company started operations in 2017 as a blockchain consulting and development company.

The following services are now provided:

• Distributed ledger technology (DLT) and consulting for digital assets
• Auditing of smart contracts
• Analyze opportunities and security risks
• Develop blockchain technology and architecture for distributed applications (dApps).

Chainsulting differentiates itself from the competition by using a novel auditing method. The company performs world-class smart contract security audits that help uncover vulnerabilities. Its multi-step workflow helps prevent DeFi hackers.

The company conducts code audits of market-leading blockchains such as Algorand, Ethereum, Binance Smart Chain, and Solana. It helps them reduce risk and instill trust and transparency. They also review and secure smart contracts for DAI, 1Inch, POA Network, and Unicrypt, as well as a range of other top DeFi and crypto projects.

Chainsulting has locked up $100 billion in user funds through various DeFi protocols. The team behind this leading audit firm relies on their extensive technical knowledge in the blockchain space. It does so in order to provide high-quality audit solutions tailored to clients’ changing business needs.

3. Open Zeppelin

For creating safe decentralised apps, there is an open source platform called OpenZeppelin (dApps). The framework comes all the equipment required to build and operate Web3 programmes. Additionally, businesses of any size can use OpenZeppelin’s auditing services to find best practices in the industry.

Top companies like the Ethereum Foundation and Coinbase are OpenZeppelon customers. Its goal is to defend the open economy by giving Ethereum projects security, dependability, and risk management. It performs security audits on your behalf and implements security measures to keep your dApps safe. They provide a report with best practices and recommendations for eliminating weaknesses in the system after identifying potential problems in the code.

OpenZeppelin Defender is a web application developed by OpenZeppelin. It is a platform for securing and automating smart contract operations. Using Defender, you can collaborate with your team, define different workflows, interact with contracts, and conduct financial transactions. Defender also provides a user-friendly UI for sending transactions and creating automation scripts.

Notably, OpenZeppelin has amassed a robust library for developing smart contracts. It now serves more than 3000 public projects. Developers use the Solidity programming language to create modular and reusable contracts in its library, including ERC20-related OpenZeppelin contracts. For KYC checks of DeFi projects, SOLIDProof will seek to establish client identities and assess the nature of their activities. They will also check whether the client has a legitimate source of funds and assess any risks associated with it.

4. SolidProof

SolidProof is a German audit firm that uses manual and automated tests to evaluate smart contracts and blockchain projects and check for any vulnerabilities. Once the process is complete, the company provides an audit report that classifies the vulnerabilities found and provides remediation recommendations.

In KYC checks for DeFi i projects, Solidproof will seek to establish client identities and assess the nature of their activities. They will also check whether the client has a legitimate source of funds and assess any risks associated with it.

Additionally, Solidproof conducts audit checks on the entire DeFI project. As a developer, you want to make sure your project works well and DeFi issues are less likely. Therefore, Solidproof analyzes the project to find any vulnerabilities and checks the code before preparing an audit report.

One of the great things about SolidProof is that they work with the development team to reduce any risks highlighted in audit reports. As a result, DeFi project developers can build trust among clients by removing most of the risk surrounding the project through a personalized service.

Notably, Solidproof has conducted over 500 bsc smart contract audit and KYC checks in less than a year.

Summarize

The decentralized finance (DeFi) industry is rapidly expanding. In 2021 alone, the market cap of DeFi will exceed $100 billion. A recent series of high-profile DeFi hacks has prompted some to refer to the young industry as the “Wild West” of cryptocurrencies. This year saw some of the worst cryptocurrency thefts in history. Heists of dozens of top DeFi protocols are getting more sophisticated. As such, it underscores the need for project proponents to adopt higher security standards.

Currently, more than 50 audit firms have emerged in the DeFi space. Certik, Chainsulting and OpenZeppelin stand out. Their technology helps smart contract protocols gain investor confidence, taking the nascent crypto space to a higher level. As DeFi continues to grow, we can expect more companies to start offering auditing services.