25% of smart contracts identified critical errors


Smart contracts is an effective tool that solves the main problems in the field of electronic Commerce, however, as it turns out, can create other related critical errors. Recently discovered another vulnerability in the code EOS related problems RAM. According to the company Hosho specializing in security systems, almost every fourth project has critical errors.

$1 billion does not guarantee security

Hosho company claims that it has tested smart contracts from projects which have collected in total assets, more than $1 billion. This number of checks can boast none of the companies in this industry. According to experts Hosho, many of the projects examined, despite the existence of sufficient human and financial resources could be compromised if not promptly appealed for help in conducting a thorough check of your code. 25% proven company Hosho projects were identified with critical errors, and 60% of them were found at least one problem with security.

Testing services for smart contracts

Increasingly, start-UPS, prior to licensee practice audit of smart contracts. But many who only have a fundraiser, are not always able to allocate funds from the budget in check and try to save it. Sometimes such savings has fatal consequences, which then lead to buffer overflow or hacking of wallets. Several start-UPS on the basis of Ethereum had to return the users funds due to the failure of its first smart contracts.

It should be noted that Ethereum codes, a launch pad for many of the ICO projects are often far from perfect, and we know a lot of problems with vulnerability codes that led to a huge embezzlement or freezing hundreds of millions of dollars. Create platforms for smart contracts, such as Stratis, provides available debug kits for professional Decompiler software, but in the system Turing-complete Ethereum has a lot of opportunities for errors.

Time to detect and eliminate all potential security holes remains a Sisyphean task for many, even the most experienced developers. Many of the projects attracted to this company specializing in testing of smart contracts. Of course, it does not give 100% guarantee of eliminating all vulnerabilities, especially if the code contains a lot of mistakes.

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