Ironblocks Docs

DeFi Security Risks

The most common security solution for Web3 smart contracts today is a smart contract code Audit. Although an audit may provide a high security standard, recently we have been witnessing some of the drawbacks and blindspots, such as:
  1. 1.
    Timeframe - Auditing a smart contract often takes a few months to complete, by which time developers will probably have altered the code a few times;
  2. 2.
    Price - Audits are very expensive and therefore only cost-effective for high velocity version changes;
  3. 3.
    Security - Smart contract audits can’t guarantee hacking prevention in cases when:
  • Small changes that were made after deployment subsequently expose smart contract vulnerabilities
  • Configuration changes expose further vulnerabilities
  • A hacker targets the protocol with a novel attack

This is where the Ironblocks end-to-end security system comes into play...