According to the nature and object of the stipulations, the types of smart contract security audit are the following:
Smart Legal Contract
Legal-type smart contracts are the most common. This type of smart contract has very similar requirements to those required in a traditional contract: mutual consent, the capacity of those who sign it, among other conditions of legality.
It is a contract that gives responsibility to those involved in the fulfillment of obligations. Compliance that can be legally enforced , provided it has been configured correctly.
These legal actions against those who fail to comply with the obligations are also triggered automatically by the same smart contract.
smart contracts what are they
Smart Contract DAO
The Decentralized Autonomous Organizations DAO , are organizations that exist in the blockchain. Communities that define the rules of their structure and activities by encoding various smart contracts or DAO smart contracts.
So each member of the organization is subject to these rules. Being the digital contract DAO the guarantor of such compliance.
FTAs
The Application Logic Contracts ALC , or application logic contracts, are codes that allow the autonomous and secure operation of devices.
ALCs are based on the application, staying in sync with other smart contracts on the blockchain and allowing communication between various devices . They are intended to combine the use of the blockchain with the Internet of Things LoT.
For example, an ALC-type smart contract can be created to automatically activate a security system in a location when the establishment closes and all employees have left.
Definitely, smart contracts have enormous potential to create negotiations, agreements and legal actions, to automate and simplify routine processes, to control certain behaviors through evaluations and audits in real time...
They are contracts that can be applied in any sector of society and by any profession. Businesses, industries, schools, etc. Being perfect tools to prevent fraud, streamline processes, save resources and ensure compliance with agreements.
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