Why is the development of blockchain inseparable from security audits?

TL; DR

With the rapid development of crypto technology, in addition to the explosive growth of market capitalization and user volume, blockchain security incidents are also showing a growing trend. The security of DAPPs, especially smart contracts, has become a pain point for the development of the whole industry. Conducting the security audit of projects is effective to solve the security problem of smart contracts.

A smart contract can be simply understood as a computer program stored in the blockchain that can automatically execute transactions without a third party while ensuring that transactions are traceable and tamper-proof.

For DAPPs, using smart contracts can not only take advantage of the cost and efficiency but also can avoid the interference of malicious acts on the normal execution of contracts with the characteristics of blockchain technology, which guarantee that the whole process of storage, reading and execution is transparent, traceable and tamper-proof.

However, the open and transparent nature of the blockchain also allows all users to freely view the code of the smart contract, which may lead to all vulnerabilities, including security vulnerabilities, being visible. The most typical example is a hacker exploiting a vulnerability in the system, or a smart contract containing a critical vulnerability resulting in a vicious breach, making the smart contract code lost and causing financial loss to the user or the project party.

Therefore, it is important to conduct security audits for smart contracts, which will help identify errors and vulnerabilities in the code and examine the program logic to identify the code architecture, logic and other potential security risks of smart contracts in time.

MainStage is a decentralized and automated smart contract audit platform. The platform employs a variety of formal verification engines to quickly complete an automated audit of a smart contract and publish all potential risk points, vulnerability details, and relevant code locations to help developers or projects discover and improve their contract code.

Compared with some centralized audit platforms, MainStage can provide an auditing service for startup projects or individual developers at a lower cost. Users can deploy their own DAPPs or smart contracts on MainStage for security auditing, and the auditing can be done automatically on a regular basis, which greatly reduces the labor cost of manual auditing and is more friendly to some newly launched or underfunded projects. For users and projects with higher security requirements, MainStage can also provide a detection engine for in-depth code auditing and logic vulnerability detection before smart contracts launch.

As a decentralized auditing platform, MainStage also allows users to participate in the auditing process. Users can deploy their own test codes to conduct security tests on projects, and these test codes generate special NFTs on MainStage. Users can also get additional $GEON rewards by staking NFTs. This incentive mechanism will encourage more technicians to participate in the development of the platform test codes and add more test cases, thus improving MainStage platform tests and achieving better auditing results.

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