Whenever someone talks about a project, I constantly hear others asking if the bridge is audited. Can’t they get hacked even if they were audited? I just don’t see a difference between audited platforms and non-audited ones, they both get hacked the same. Why exactly are these important? Also if you have done your research, can you suggest some bridges for me please?
An audit’s not going to find every problem. But it will find the obvious ones, and maybe the less obvious ones.
Think of security like layering slices of Swiss cheese. Any given slice has holes, but stack enough slices high and every path should hopefully be covered
Well an audit is a sort of control. It can fail indeed but generally it’s better at least a small audit then nothing at all even if by a small %
Audits are more about checking the code doesn’t have a dev built backdoor or something in it. An audit is not a guarantee of security.
You seem to misunderstand the point of an audit. While it does look into vulnerabilities, it also inspects smart contracts and ensures that all is good in that department. If the project is a blatant scam project, the audit would be able to find that information out. Also if it has incredibly weak security, that will be exposed in the process. That’s why you should—even though it doesn’t completely rule out the possibility of a hack—always look for audits and make sure it’s a safe place to put your money. I personally look for audited bridges only, my personal pick is Octus Bridge. Cheap, fast, and *audited*
imagine a couple of old software engineers with no experience into Blockchain programming decide to launch a project thinking they know best and launch without an audit…
today is my first day of work at the office
You’re right, people with seatbelts die every day so I never wear them. Why do people wear them?
Depends what you’re auditing
Determining true liquidity depth is harder than say, finding a proxy that could alter a contract code.
Think of audits like sending inspectors to look into an apartment for you before you move in. They may not be able tell if there will be an earthquake or an incoming flood, but they will surely know if there are bedbugs or rodent problems.
While Audit don’t make a case for 100% safe, they are very important in ruling out the obvious exploits or rugpulling loopholes a code might have.