Blockchain Audit
Glasspaper conducts smart contract, off-chain, networking, and front-end audits in order to enhance the security of your decentralized application.
A good smart contract audit accomplishes two key objectives: security and trust.
Quality smart contract assurance helps identify potential issues and ensures that the protocol is taking the necessary steps to address any bugs or flaws that could put its users’ funds at risk. Although there are no guarantees that a protocol will be secure after an audit, a good smart contract audit can still perform comprehensive reviews to uncover potential issues, potentially preventing catastrophic vulnerabilities after launch.
Secondly, a good audit helps the project gain a certain level of confidence and trust with the crypto community, as well as with potential VC investors, that a baseline level of security has been established. This is important not just for new projects which are launching into the market, but also for existing projects deploying a major upgrade.
Instead of “testing in prod”, having an audit conducted by a third-party audit by industry experts is becoming standard practice before any major changes to smart contracts are deployed to production.
Glasspaper offers penetration testing, running bug bounty programs, vulnerability assessments, and threat modeling.
Smartcontract Security Audit
Tokenomics Security Audit
Penetration Testing
Blockchain
Audit
Bug Bounty Program
dApp Security Audit
Protocol Audit
Risk factor still high? Where to move?
Decentralized apps don't have a lot of governance bugs. But, users are heavily suffering from contract bugs, flash loan manipulations, MEV front-running, and rug pulls, resulting in a crypto-asset loss worth millions. Browser wallets do not guarantee the security of users' assets, and the same relates to centralized crypto exchanges. Some prominent exchange gets hacked almost every month, and users lose their money. Moreover, blockchains written in Rust are much more complicated than Solidity-based blockchains regarding the number of variables involved in the contract. We predict that this complexity will lead to new vulnerabilities, exploiting which malicious actors will cause megahacks. Despite all the opportunities it brings, the DeFi ecosystem is still very complex, which is why the scope of risks is high.
But should we be afraid of all these risks?
No! Virtual assets are not risk-free investments. Investors accept certain technological risks to avail high returns. Every vulnerability or security loophole detected makes the ecosystem robust and mature. Smart contracts' total value locked (TVL) is almost. And with diverse opportunities, Ethereum has stopped being the blockchain of choice for researchers and investors. As a result, the smart contract blockchain's share in the global TVL pie now is just a bit more than.
Leadership in Blockchain Security
Sathya Prakash our founder has been continuously sharing his Blockchain loots and hacks predictions months before its occurrence, for his Linkedin followers, In his words
"It’s important to understand the security check and attacks involved. Security audit plays a significant role at this point in time and it’s mandatory to be aware of the below-mentioned security checks and attacks.
– Block timestamp Manipulation
– Frontrunning
– Sandwich Attacks,
– Cross-Chain Bridge manipulation,
– Denial of Service
– Phishing Through tx.origin
– Signature Replay
– Reentrancy Attack
– Malicious Honeypot
– Unsafe Delegatecalls
– Insecure Randomness
– Accessing Private Data
– Arithmetic Over/Under Flow
– Price Oracle Manipulation,
– Flash Loan Attacks,
– Unsafe external calls,
– Unchecked return values,
– Proxy Storage Collision
– Loops Gas Limit"
He adds “A Purposeless Tokenomics is a financial black hole that is capable of causing a major disruption to the economy. An insightful use case and a futuristic Tokenomics are the basic requirements to identify a genuine project. A tokenomics without an insightful business use case other than just the circulation of its currency is like a chicken without its head, the project is not sustainable and it’s just a hoax.
It’s important to ensure that the tokenomics smart contract has its time-locked governance contract and that the token circulation is not manually controlled. Adding a reentrancy contract to the smart contract protects the dApp from hacks.