Blockchain Security: Barriers and Opportunities in a New Industry

DeFi is powered by smart contracts, which, although extremely powerful and efficient, introduce completely new risks and attack vectors. When smart contract platforms secure tens of billions of dollars’ worth of digital assets, a byte-sized error in the code can cause massive financial losses.

That’s why auditing is such an essential step for all DeFi projects. To put it bluntly, there’s only one incentive for someone to go through the arduous work of inspecting a platform’s code: money. Giving that incentive to a professional auditing team rather than a hacker is an investment that pays out many times over.