At a glance

While blockchains began life to facilitate the development of cryptocurrencies, they are now widely used across businesses for smart contracts, online transaction management, asset record management, and securing critical data. Acting as digital ledgers residing in a distributed infrastructure, they enable the secure storage and structuring of important information in a manner that ensures the integrity and availability of the information. It is the principle of the immutable ledger that underpins the evolution of blockchain.

This technology has created the need for crypto audit to provide independent assurance of the validity, security, and authenticity of the blockchains. Token audit is a highly specialized practice that few organizations can undertake, Coduem, is ideally positioned to provide blockchain security audits services. Our auditors have a comprehensive understanding of blockchain and its implementing algorithms and underlying encryption methodology.


What does the Crypto Audit include?

A crypto audit performed by a professional cryptocurrency auditor provides for the use of automated bug detection tools to reveal commonly known vulnerabilities and further manual execution of systematic and structured code review of the blockchain project. The key goal of crypto audit is the detection of high-severity bugs in a code. Before conducting an audit, the security team of the crypto audit company needs to get a deep understanding of the project’s architecture and use cases as well as recognize the key components of the target system. The key phase of blockchain audit is threat modeling that reveals data spoofing and data tempering and enables the detection of DDoS attacks on a blockchain system. And the last phase of crypto audit provides for the exploitation of revealed vulnerabilities to estimate the scope of potential threats a project under test can face and their further remediation.


Why should Projects Apply for a Crypto Audit?

Token audit conducted by crypto audit companies allows projects to prevent the exploitation of vulnerabilities that may result in the loss of clients’ assets. Blockchain audits also allow projects to prevent public access to smart contracts and, thus, protect them against facing the exploitation of their vulnerabilities. A crypto audit performed by a reputable cryptocurrency auditor will also serve as the indication of projects’ reliability to existing and potential investors.


Duration of Blockchain Security Audits

The main factors determining the duration of a token audit are the project’s size and complexity. Depending on these factors, the duration of a crypto audit can vary between 1-2 days and a few weeks or even months.