Here at Avalance, we constantly keep an eye on the cutting edge of innovation, while developing real-world decentralized applications. And that’s exactly what makes us successful.
Smart contract audit process
Define the business logic and requirements
The parties involved define the specific business conditions of the smart contract and communicate them to the developer.
Design the smart contract’s architecture
Once the business logic has been determined, developers design the architecture of the contract to represent that logic. This serves as a blueprint during the development process.
Develop the smart contract
This stage involves writing the smart contract code for the blockchain platform of choice (for example, Ethereum,EOS, etc.). This step also includes unit testing to determine if the contract performs as designed.
An internal audit via a local blockchain and then a testnet is performed. The audit checks if the contract functions as intended, and meets all security standards.
Deployment on the blockchain
The contract is deployed on the marketplace on which it will operate.
Simple smart contracts
This category includes contracts that have legal implications for parties that fail to fulfill their part of the agreement. They are also known as smart legal contracts.
Complex smart contracts
Complex contracts include Decentralized Autonomous Organizations (DAO) and Application Logic Contracts (ALC). - DAOs are a form of blockchain community. This community operates and is governed by a set of rules via a number of smart contracts - ALCs represent the interfacing between smart contracts and the Internet of Things (IoT). ALCs serve to validate and aid the communication between devices within the IoT. Smart Contract Development by Avalance