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DeFi Security Alliance

Why do you need several audits?

Auditing a project is a very important step in the process of developing a project.
A security audit provides an independent review of the project’s code and lists existing issues along with potential vulnerabilities that can cause the dApp to malfunction.
Today we discuss the intricacies of audits and figure out how and why they have to be performed.
Why do you need an auditor?
While a review and testing can be conducted by the project developers, an audit has to be performed by a third party. This is absolutely necessary to maintain impartiality.
There are several reasons for that.
  • In certain cases, malicious developers can leave possibilities for fraud in the code
  • After spending a long time working on the code, developers may easily miss an error
  • Professional auditors have a way of easily detecting not only obvious but hidden vulnerabilities and predicting the possible outcome.
This is why projects that expect a long-lasting lifespan are eager to get audited and present the findings to the public. It’s a way of showing that investors can trust the project and the owners have nothing to hide.
An audit is also a way to protect the project. If it goes down or doesn’t even take off because of an error, the owners would have to accept the losses. So for many developers success can depend on an audit.
Why are several audits a bonus?
There are many auditors in the market. Some are more well-known than others with a much larger portfolio. However, even that doesn’t necessarily guarantee a perfect result. It’s important to remember that every auditor can make a mistake.
Even with all the measures companies take to reduce the possibility of an error, there’s never 100% assurance. Besides, more experienced auditors with a keen eye might notice small mistakes that others would just ignore.
Aside from manual audits, different auditors use different tools and their results vary.
This is why it makes sense to get not one but several audits preferably from different companies.

It helps that there are enough companies and many price categories to choose from. Moreso, every new addition to the code should be reviewed as well. This shows your users that the project is serious about its security and user experience.

How to choose an audit company?
Choosing the right auditor is also an important part of building a successful project. And needing several audits also requires choosing several auditors. This isn’t an easy task, as it’s possible to come across a malicious company with unskilled employees.
To make sure that the auditor is knowledgeable and delivers quality results, make sure to get acquainted with the company before agreeing to work with them. Do your own research, there are always reviews and client testimonials available for review.

Aside from that, check which projects the company audits most often, and what languages are the most requested. This may help you find not just the best auditor but the best one for your project. Make sure to review the existing audit reports, since they have to be thorough, easy to comprehend, and even appealing in terms of design.
DeFi Security Alliance offers the easiest way to navigate through many auditors on the market.
Wrapping Up

Never put your DeFi security down!
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