What is Audit?

Question

What is Audit?

Accepted Answer

An **Audit** in the blockchain and decentralized finance (DeFi) context is a comprehensive, independent security review of a smart contract, protocol, or entire blockchain system, primarily focused on identifying vulnerabilities, logical flaws, and security risks before or after deployment. This process is critical for establishing trust and preventing catastrophic financial losses in decentralized applications where code is law.

Audit

What is Audit?

What is the primary purpose of a smart contract audit, and how does it prevent catastrophic financial losses in DeFi?

How do the costs and timelines for a blockchain audit vary based on the complexity of the protocol, and what are the key stages of the process?

What are the most common types of vulnerabilities discovered during smart contract audits, and what is the typical distribution of these findings?

How is a traditional financial audit fundamentally different from a blockchain or smart contract audit, and what unique challenges does the decentralized nature of the technology present?

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