How Can a DAO Assess the Audit Quality of a Smart Contract Protocol?
A DAO should assess the reputation of the auditing firm, verify that the audit report is publicly available, and check if the audit covered the entire codebase, including any recent changes. Critically, they should confirm that all identified high-severity findings were adequately addressed and re-verified before deployment.
Glossar
Audit Report
Attestation ⎊ An audit report, within cryptocurrency, options trading, and financial derivatives, functions as a formal attestation regarding the veracity and reliability of underlying systems and financial reporting.
Smart Contract
Code ⎊ The contract is fundamentally self-executing code deployed on a distributed ledger, embodying the terms of the agreement in an immutable format.
Post-Audit Security
Monitoring ⎊ Post-audit security involves the continuous monitoring and threat detection implemented after a smart contract or protocol has undergone an initial security review.
Audit
Verification ⎊ Audit within cryptocurrency, options trading, and financial derivatives represents a systematic examination of code, processes, and financial records to ensure integrity and adherence to established protocols.