How we Develop & Audit Smart Contract at Blockchain App Factory?
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Cryptocurrency and blockchain have been changing the face of finance and security all over the planet. The cost-efficiency and the security can only be attributed to the conditional execution of processes with utmost efficiency. It won’t be an exaggeration to state that the awesomeness of blockchain entirely rests on the smart contract. To reap the fullest benefits of blockchain technology in certain domains, developing a perfect smart contract is a vital step.
Since Ethereum is one of the most widespread blockchains, developing an Ethereum smart contract is something that many organizations look forward to. Blockchain App Factory specializes in creating smart contracts for the Ethereum blockchain. Our services ensure the highest efficiency and performance.
The Team at Blockchain App Factory:
The team at Blockchain App Factory brings experience and robust knowledge of working with different blockchain and the smart contracts including but not limited to Ethereum. Our commitment to providing the best-in-class service essentially including vital aspects like security makes us one of the most preferred partners for Ethereum smart contract development. We understand the business and financial needs of our client and proceed to create smart contracts in accordance with their requirement.
Starting right from gathering the requirement for your smart contract, our professionalism steps into the program. Our experience in marketing, project analysis and the meticulous process of testing the source-code makes sure that your a major part of smart contract audit is complete even before the launch of the smart contract.
Our team brings with it the experience of working in multiple blockchain-related processes like Blockchain Development, smart contract development, smart contract audit, Initial Coin Offering, Security Token Offering development, and even creation of new cryptocurrencies. Our experience and expertise converge to give you the best of Ethereum smart contract development services.
The tight process we follow ensures that a development team works in tandem with your team and their requirements. The important steps of our smart contract creation and audit process are:
The first step towards creating a successful smart contract lies in understanding the business logic and the requirements of the client. Our team understands the business goals to be reached by implementing the Ethereum smart contract. Our research is aimed at improving the overall level of understanding of smart contracts. We will take care to collect the document containing the client-specifications or even create one if need be.
For the smart contract audit, the first step is to manually analyze the code of the smart contract. We work on the functionality, the bugs and the stability of the smart contract which are needed to keep it working. After manually testing the smart contract, we deploy a smart contract on a live network to see its actual working. As and when we work, we also take steps to check the different resources that the smart contract uses under different conditions.
We validate the code for meeting the standards and recommendations. This process ensures that the code is readable, easily understandable and also makes way for any other organizations to work on the code. Once done, the debugging process starts and this step is one of the most important as it will tell the client about the validity and the functionality of the code in terms of quality, security, and stability. Once all the checks are done, the smart contract is deployed on a test network and it will help diagnose the issues that might not have been bloidentifiable in the inspection.
Based on our analysis on the bugs and the other issues, we help the client understand the changes that are needed to be made to the smart contract even at the conceptual level. Our aim is to give the client a complete understanding of the risks and the problems involved in the current model of their smart contract.
The unit testing ensures that every individual unit of the source code is checked for meeting the system requirements, compliance with the data handling procedure, and the storage of information. We test the smart contract for different use case scenarios based on buying of tokens and the withdrawal of tokens or anywhere in between. Testing is an important step in the entire process because the immutability of the smart contracts would mean that they cannot be edited once deployed.
Test cases might not be able to cover extreme scenarios. There are certain instances when the smart contract might not have shown any vulnerabilities in the testing but might encounter one in the future. Our extensive and expansive checks make sure that we discover and patch as many vulnerabilities as possible. Some of the most common vulnerabilities are:
- Timestamp dependency
- GAS limits and loops
- Transaction ordering dependency
- Exception disorder
- GASless send
The Overview Document
The report document will give you a birds’ eye view of the project. It will also offline the identified and documented issues that occurred during the auditing process. This section can function as a checklist for the client to prepare for what comes after. The report section will showcase the overall quality, the completion, and breakpoints for the smart contact. Overall, it will showcase the quality and reliability of the project.
Blockchain App Factory specializes in all the services that fall into the spectrum of blockchain, cryptocurrency and smart contract. Our services include smart contract development, smart contract audit, cryptocurrency creation, cryptocurrency exchange creation and launching your own Security Token Offering or Initial Coin Offering. Should you have a requirement in any of these, feel free to get in touch with our team and we will ensure that it is executed without compromising on timeliness, professionalism, and quality.
Originally Published in Blockchain App Factory