You have finally taken the first step in launching your dApp or dream web3 project by building the smart contract.
Is building the smart contract enough?
Whenever you build something there are always bugs, vulnerabilities and errors.
These errors could prove costly in the long run as thousands of dollars could be lost to hackers.
The first step you need to take after your smart contract is ready is to validate your smart contract.
Simply put, you need to make sure that all the functionality you have built in your smart contract works as per what you want it to.
What is validation of functions and why is it important in blockchain?
Since a particular smart contract can possibly be linked with digital assets one needs to ensure that any potential threat or illicit access to any vital information over the blockchain are not only curbed but also completely eliminated.
The audit team has to ensure that the functions that are being used in the smart contracts code are logical, efficient, bug-free, optimised and free of any risk to all user participants of the blockchain.
However, the function code and logic that goes along with these smart contracts is not easy to be understood by laymen.
What if you could auto-validate and automate the security audit of your smart contract?
Dream scenario right?
The sole purpose of automated validation of functions in smart contracts is to ensure that the contract functionally behaves as expected.
Currently, in the industry, all audits and validations are performed manually by third-party firms.
- This not only entails great expenses but also increases the overall time and effort to validate and audit contracts.
- It also results in increased logical and security errors due to reduced code coverage.
- Therefore, to reduce the risk of releasing contracts with errors and reduce the overall time and cost to validate and audit them, it becomes essential to put automation in place.
Why is automation important in smart contract validation?
- High risk involved
- Digital asset linked
- Digital identification linked
- Significant reduction on resource spend
- Time saving
- Maintaining integrity and credibility of the ecosystem
Hence, if you are thinking of automating smart contract auditing and validation then you have come to the right blog
At Accelchain we have built a platform to automate the entire process of validation and audits.
How Accelchain automates the whole process of validation and audits?
Accelchain as a software performs this process by validating and auditing the smart contract in runtime.
Accelchain provides users with some salient features such as:
- Creating smart contracts from scratch to deploying within a few minutes.
- Suggestions/Warnings : The users can check for the smart contract code and edit any incorrect usage and also identify risks involved such as security risks and code vulnerabilities.
- Errors and bug detection: The software highlights any existing errors and bugs in the code.
- Symbolic Execution: The software uses a testing technique named “symbolic execution” to generate the test cases. The software is instrumental in aborting any contract which does not adhere to the specified invariants in the contract.
Compared to other tools, how does Accelchain help users in validation and auditing smart contracts?
Now, let us understand what makes Accelchain one of its kind in the current scenario.
Accelchain uses its exclusively patented state of the art “Symbolic Execution” for performing the testing of smart contract validation.
Currently no one in the blockchain industry is providing automated validation or automated auditing.
Accelchain is the first in the industry to do automated auditing and validation.
Next let us go through a few simple steps of how one can perform auditing and validation using Accelchain.
Step by step guide:
1) Click on connect wallet : Firstly the user needs to login to his metamask account to be able to transact and deploy smart contracts.
2) Click on sign : The user needs to authenticate loging into his account by approving through sign.
3) Click on create new : This initiates the smart contract.
4) Select NFT and click on create contract : The user will have choose one from the 3 options (DAO,NFT,Defi) for his smart contract.
5) Select NFT marketplace and click on let’s do this: Under the domain NFT one can further select sub-domain such as (ERC1155token, airdrop, collection and presale).
8) Click on deploy: in order to deploy the contract (template) that the user just create we click on deploy button.
9) Enter the parameters :
10) Click on deploy At this step the user will have to choose the blockchain where he wants to deploy his smart contract
11) Click on confirm : This is the final step where the user has successfully deployed his contract.