Blockchain development provides unique opportunities for distributed ledgers, but Smart Contract applications face major security concerns. Their security audits are necessary for mitigating all risks related to historical losses of millions of dollars in DAO attacks.

A Smart Contact audit involves meticulously investigating the code to identify vulnerabilities and security flaws before publicly deploying it. Essentially, it’s like testing a bridge for the safety and security of its users before opening it for public use. The auditor can highlight the critical issues that need improving by:

  • Checking whether a code is safe for money exchange
  • Validating wallet address against typographic errors and other issues
  • Detecting errors and vulnerabilities in the code
  • Spotting potential bugs

Here’s a list of the top 5 Smart Contract auditors that help to protect the user's data and avoid losing funds when launching an ICO:

  1. Hosho

Hosho is a leading security company, popularly trusted for auditing more Smart Contracts than any other firm. The company claims over a billion in Smart Contract auditing, with some very troubling discoveries made.

According to Hosho, over 25% of all Smart Contracts have critical vulnerabilities in their code to the point of damaging the contract. The company further notes that at least 62% of all Smart Contracts have more than one security issue in their code.

Based in Las Vegas, the global leader in Blockchain security also offers website penetration testing and bug bounty programs.  Their client portfolio includes ICOs, crypto exchanges and businesses leveraging the Blockchain.

  1. ConsenSys

ConsenSys is a global team of blockchain venture production studio. The company focuses on building an ecosystem of enterprise solutions and consumer-centric products using blockchain technology, mainly Ethereum.

While aiming to improve the current concepts and services in the blockchain technology, ConsenSys supports power decentralization through smart contracts. This firm consists of global entrepreneurs and technologists, whose aim is to build applications, infrastructure, and practices to support a decentralized world.

  1. MENA Software

Based in Bulgaria, MENA is a software development company known for creating custom tailored projects on the blockchain. The company focuses on the latest technology to offer services based on quality, agility and reliable infrastructure solution for your business. MENA Software’s services include technology consulting, end-to-end development, IT support, QA and Testing, UX/UI and Visual design and Proof of concept (POC).

MENA Software has a strong portfolio of projects, ranging from product and business development to enterprise applications and systems. With a dedicated team, the company offers security and smart contract audits to ensure total decentralization, automation, and transparency over the blockchain. Mena Software also handles a range of other projects like:

  • DAaps Development (NEO, EOS, Ethereum)
  • Mobile, web and desktop application development
  • Enterprise application and system development
  • Product development
  • Games development

Furthermore, the company focuses on Big Data, machine learning, and AI.

  1. Authio

A full-service Smart Contract firm, Authio focuses on mitigating security risks and technical debt for decentralized applications on the Ethereum Blockchain. Authio has services for every step in the dApp development life cycles, including system design, development and security audits.

With a group of experts, Authio helps their clients to build decentralized applications using the latest development and security standards. Their experts also conduct extensive review and testing of your smart contracts to ensure they behave as expected, without any security loopholes.

The company has an insatiable curiosity when it comes to Ethereum, taking time to understand not only the security but also the scope of a contract.

  1. New Alchemy

New Alchemy is a technology and strategy advisory company specializing in tokenization. Focusing on helping the best blockchain companies succeed, it offers a range of services for launching ICOs (Initial Coin Offerings). Their services include smart contract development, C-level strategy, token game theory, project management, security auditing, and other marketing services.

Based in Seattle, New Alchemy was launched in 2016 by Peter Venesses – an early Bitcoin innovator. As such, the company has a clear understanding of token processes and cryptocurrency technologies.

When selecting a Smart contract auditor, it’s essential to note that there are some benefits and risks as well. The auditing processes may help you to identify any vulnerability before deploying the code, but an untrustworthy auditor may fail to inform you about an exploit. Thankfully, you can safely choose any of the trustworthy auditors above.

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