Smart contracts are a revolutionary development in blockchain technology, allowing for automated trustless transactions between two parties. However, their complexity and immutability also create a level of risk that must be considered before using them.
Smart contracts can contain bugs and vulnerabilities, and when these flaws are exploited, they can cause significant financial losses. For example, a bug in a smart contract could allow an attacker to steal funds or create an infinite loop that drains the user’s funds. Additionally, smart contracts can be vulnerable to malicious attacks, such as when an attacker attempts to replace the code of the contract with malicious code.
I am looking for advice on how to safeguard against these risks when creating and using smart contracts.
Smart contracts can contain bugs and vulnerabilities, and when these flaws are exploited, they can cause significant financial losses. For example, a bug in a smart contract could allow an attacker to steal funds or create an infinite loop that drains the user’s funds. Additionally, smart contracts can be vulnerable to malicious attacks, such as when an attacker attempts to replace the code of the contract with malicious code.
I am looking for advice on how to safeguard against these risks when creating and using smart contracts.