Should OpenZeppelin ERC20 Contracts be audited? (2024)

FAQs

How are smart contracts audited? ›

The smart contract audit methodology combines a line-by-line manual analysis with an automated analysis using a test suite of tools. An audit can provide peace of mind that your blockchain security is tight before you proceed to smart contract implementation.

An ERC20 token contract keeps track of fungible tokens: any one token is exactly equal to any other token; no tokens have special rights or behavior associated with them. This makes ERC20 tokens useful for things like a medium of exchange currency, voting rights, staking, and more.

Experience: Look for an audit company that has extensive experience in auditing smart contracts for big protocols with big TVLs. The more experience they have, the better they'll be at identifying potential vulnerabilities.

An ERC20 Token that is mintable, burnable, and has a max supply of 21M tokens. The premint is set at 1M tokens. This project was made possible using openzeppelin contracts.

What Is ERC20? ERC20 is a standard for programming smart contracts on the Ethereum blockchain. It makes auditing easier and creates compatibility between networks.

Tether (USDT) exists in two primary variants: TRC20 and ERC20, each operating on different blockchain platforms. TRC20 Tether runs on the TRON blockchain, offering faster and cheaper transactions compared to ERC20 Tether, which operates on Ethereum.

Unit tests and integration tests are the two types of smart contract testing. Truffle, Waffle, Chai, and Mocha are popular testing tools.

Smart contract verification involves submitting the source code of your smart contracts to ensure that the deployed bytecode on the blockchain matches the source code provided. Verification is essential for Tenderly's development tooling to work properly.

The smart contract and its underlying code exist throughout a decentralized network called a blockchain, which is a digital distributed ledger that facilitates cryptocurrency and smart contract transactions. These transactions are traceable and irreversible, thanks to the embedded code.

How do you audit a contract? ›