The myth associated with the duration of a smart contract audit service

When people consider using a smart contract auditor to help them with their projects, they frequently have misconceptions. They believe that regardless of your work, this procedure will take a long time.

However, in practise, the length of time it takes the specialists to do this task relies on a variety of variables, including how complicated the use case is.

One of the main reasons people choose not to have their DEX Audit services smart contracts audited is a lack of trust in the audit team and a lack of knowledge about security flaws.

What is the duration of an audit?

As was mentioned, there are a lot of factors to take into account before having our smart contracts inspected. Here are a few examples of those items.

Project Length

The scale of the project should be the first and most important factor taken into account during an audit.

For instance, if you request an audit of an ERC20 token contract, you will receive the audit result just 48 hours later. The same line of code cannot be examined for the same amount of time if the token is used within a Dapp, though. The auditors may even need a whole month to complete everything.

Think about the contract type, which is the token sale contract. These more complex ERC20 contracts differ from the simpler ones. They have many more sophisticated features in addition to a well-organized and specified tokenomics. Staking and exchanging are also included in these contracts. These sophisticated tokens can take up to two weeks or more to get audited than the basic tokens, which just require a few days.

The complexity of the project

The project’s level of complexity should be taken into account next.

Say, for instance, that you are creating a Decentralized Exchange Audit Services or money market. Naturally, a new auditor cannot be granted the project. It would take a trained and experienced auditor a great deal of time to go through it line by line and make sure there aren’t even a few vulnerabilities.

In other cases, protocols or smart contracts depend on different external sources, making them vulnerable to several blockchain security vulnerabilities.

Naturally, it will take at least a month to audit such projects.

Lending, borrowing, insurtech, and derivatives are a few other projects in this field.

Types of Audit

The time needed to audit a smart contract depends on the sort of audit your project requires. You can request an interim audit if you are confident in the accuracy of your data and that your smart contract was developed in accordance with the best practises.

Temporary Audits

An interim audit is finished in roughly a day. An professional who is involved in this audit examines the project’s structure and then comprehends the

possible flaws that it could have.

This kind of audit makes sure the project is proceeding as planned and that a security issue that might in the future change the project’s entire structure is discovered as soon as possible.

Full Security Audit

While creating the smart contract, the interim audit may be carried out concurrently. On the other hand, a thorough security audit is only conducted after the application has been submitted. This is the final step before deploying the application to the public internet.

There is a good possibility that the programme will have a broad variety of mainnet defects and vulnerabilities if it is released without this comprehensive security assessment.

Audit Process

The duration of the smart contract audit depends on the process selected as well. These are:

Manual Audit

Manual auditing requires going line by line through the code to look for weaknesses and programming errors. Additionally, it assesses if the smart contract follows the underlying business logic. It also recognises edge circumstances and optimises code for gas efficiency. Manual audits are a subset of unit tests.

For erc20/bep20 contracts, manual audits generally take 3 to 5 days. The audit’s duration, however, is determined by the code.

Automatic Checkup

Automated auditing is the process of checking code for errors using audit tools. It ensures that every smart contract is protected, Decentralized Exchange Auditing company eliminating the possibility of human error. Automatic audits come in the form of fuzzing and reporting.

Summing up:

People sometimes enter the market without having received the auditors’ final reports because of the length of a smart contract audit. One cannot overstate how important it is to complete this procedure. You only need to invest a little extra time and money, but over time, you’ll be able to save millions of dollars in digital assets!