Why do you need your Smart Contract Audited?
Smart Contract Auditing by Blockchain Tech Team
Smart Contracts are immutable once it will be deployed on the Blockchain network.
They must be written with high level precision and accuracy by considering all the possible logical permutation
Why It is Crucial?
Smart contract is a piece of code to be deployed on the Blockchain network. Once deployed, it will be immutable and hence it is a heart of any trustless system. Not even owner can change the smart contract rules. However, you can change the states of the variables which generally results in GAS consumption on Ethereum Network. To optimize a GAS consumption is also a big challenge now a days.
Immutable
Because you can’t change anything on the smart contract after deployment on the Ethereum MainNet, it must be written with high level precision and accuracy.
Algorithmic Structure
Programming is an art, everyone can’t have it. You will need high level IQ and thinking capacity while writing a smart contract to imagine all the permutations. Not every developer can do that. Sometimes, its difficult to understand the vision for the normal developers, specially who have not been involved in any architectural pattern design.
GAS Consumption
This is a crucial factor to be considered in a long run. If the smart contract will not be optimized enough in terms of variable states, it may turn into a lernean hydra very soon and you will end up with huge transaction charges.
Wallet Locking
Miss management of the contract rules may lock wallets of the users and hence all the money. Many incidents have been published already in the news about the same.
Unhandled Exceptions
Unhanded exceptions on the smarts may throw you in the Black hole. Not all the developer use to be habituated by taking care of all the possible exceptions.
There is No Second Chance
Once you deploy smart contracts on the Ethereum mainnet, there is no chance of updating the contract rules. There are some frameworks out there who are claiming to have found a way of doing this but I personally have found them working properly. Also it will not be truly decentralized if this will be feasible.
