Top Smart Contract Audit Companies of 2023
The advent of blockchain technology marked the introduction of smart contracts into practical reality. Although Bitcoin did not support complex smart contracts, the succeeding blockchain networks, starting with Ethereum, gave vital importance to smart contracts. Smart contracts are self-executing contracts that get triggered once both parties in the agreement arrive at a consensus. They are a set of codes executed without any intermediaries. As they are pre-determined codes which cannot be altered once deployed, it is important to check the security of the codes before they are deployed, or else they are susceptible to manipulation. This is where smart contracts auditing comes into play.
What is a smart contract audit and why is it important?
Smart contract auditing is the process of carefully reviewing and examining a smart contract’s codes to discover the potential bugs, vulnerabilities and the associated risks it may cause. Smart contract auditing is usually done prior to the deployment of the contract once the codes are drafted. A team of experienced auditing professionals who are experts on blockchain security and smart contracts typically performs the audit. During the audit, a smart contract is analyzed line-by-line using both manual and automated techniques.
Smart contract auditing is necessary for the following reasons:
Security: Malicious actors often target smart contracts because they handle valuable assets like cryptocurrencies. Auditing smart contract code identifies security vulnerabilities and recommends solutions to mitigate them. As a result, hacks, thefts, and other security breaches can be prevented.
Trust: The premise of smart contracts is trustlessness, which means users don’t have to trust intermediaries to make the code work as intended. With an audit, the contract can establish higher trust with users and stakeholders, who can rest assured that the code has been verified and is secure.
Accuracy: As smart contracts are executed automatically without any human intervention; it is vital to confirm the accuracy and faultlessness of the code. A contract audit ensures that the code is correct and works as intended.
Reputation: When a smart contract is hacked or suffers a security breach, it can significantly impact the reputation of the blockchain network and its users. Smart contract developers can prevent this negative publicity by conducting an audit and ensuring that the contract is secure.
Smart contract auditing has become critical in developing and deploying smart contracts, making smart contract audit companies more in demand.
How did we compile the list of top smart contract audit companies?
To compile our list of smart contract auditing companies, we researched the industry extensively and analyzed various factors such as reputation, expertise, and customer reviews. We evaluated each company based on their experience in the industry, the quality of their audits, their team’s expertise and certifications, and their reputation in the blockchain community.
We also considered factors such as the types of audits offered, the industries they serve, and the size of their client base. We looked for companies with experience auditing smart contracts for various industries, including finance, gaming, and decentralized applications.
Additionally, we considered the cost of services each company offers and their ability to work with clients of different sizes and budgets.
What are some top smart contract auditing companies of 2023?
We understand that conducting a comprehensive smart contract audit requires specialized skills, knowledge, and expertise, which is why we have curated a list of prominent smart contract audit companies. Each company on our list uses advanced tools and techniques to ensure smart contracts are secure and reliable. We’ve also provided information on each company’s services, pricing, and clients to help you make an informed decision when choosing a smart contract audit company.
With more than 15 years of experience in software development, LeewayHertz has proficient expertise in blockchain development. Since its inception as a blockchain development company, it has been a pioneer in blockchain security, especially smart contract security. Their smart contract security auditors aim to deploy an error-free and highly secure smart contract using tools like MythX, Certik’s SkyHarbor and Quill Hash and also by manual techniques.
As experts in smart contract development in multiple blockchain networks, they offer auditing services for contracts deployed in diverse chains, including Ethereum, Tezos, Solana, NEAR and Algorand. Moreover, they follow a set auditing process, from specification gathering to code analysis using several techniques and final report documentation that outlines all vital information of the vulnerabilities found, tools they used, recommended remediations, vulnerability fixes and more.
Their list of clients ranges from Klyatn, Filecoin, Tezos, ESPN and Siemens, among other top-tier companies.
50 – 249
San Francisco, CA
TraceRx, WeeSign, Armanino
As a web3-focused company aimed at offering blockchain security services, Hashlock offers a wide range of services, including smart contract security auditing and corporate blockchain security. They ensure smart contract security through thorough manual code analysis and offer valuable insights via tailored reports. Hashlock guarantees its clients that they adhere to best practices and recommend fail-safe procedures. Some of their notable smart contract audits include audits done for the Positivity token, BTAF token and Verida token.
$100 – $150 / hr
51 – 250
3. Open Zeppelin
Open Zeppelin offers open-source security solutions to build, automate and operate secure dApps. As a premier crypto cyber security technology and services company, it offers a suite of tools and smart contract libraries for developers to use while building and deploying dApps. With project security and reliability being their key focus, they offer security audits on leading organizations’ systems and products. Since its launch in 2015, it has helped protect assets worth over $10B for organizations like Coinbase, Ethereum Foundation, Aave, Compound and The Graph. It was the first cybersecurity company to use gamification to detect smart contract security vulnerabilities.
$25 – $49 / hr
As a software development company offering custom software development services to businesses in multiple industries, blockchain development and associated services are one of Matellio’s lines of work. Their blockchain development services range from developing open chain, crypto wallets, smart contracts, dApps and DEX. Matellio has worked with clients in healthcare, education, e-commerce, and finance, among others, and it prides itself on delivering high-quality software solutions that meet the needs and requirements of its clients. As a smart contract development company, it ensures that the developed contracts are secure and reliable via thorough security auditing and optimizing the codes for maximum performance.
$101 – $150 /hr
50 – 249
5. Consensys Diligence
Unlike other companies on the list, Consensys Diligence is focused solely on smart contracts built on the Ethereum network. Consensys Diligence is a division of Consensys that built popular web3 products like Metamask and Truffle. They offer comprehensive smart contract audit services to help startups, enterprises and well-established firms to launch and maintain their Ethereum-based applications with maximum security and integrity. They are trusted by prominent industry leaders like Aave, OmiseGo, Horizon, 0x and Covantis. It offers a suite of blockchain security analysis tools for automated analysis, combined with a line-by-line review of the codes by Consensys smart contract auditors.
$51 – $100 /hr
Titan, Metronome Logo
6. Trail of Bits
Established in 2012, Trail of Bits is a leading cybersecurity firm serving clients from different industries, including defense, tech, finance, and blockchain. They have worked for prominent players in the market, such as Microsoft, Adobe, Zoom, Reddit, Airbnb and more. To prevent code breaches and reduce risk, they claim to combine high-end security research with a real-world attacker mindset. As part of its Software Assurance offering, the company performs security audits for blockchain, cryptographic analysis, threat modeling infrastructure security and software hardening. Their smart contract audit services range from code analysis and recommendations to formal verification, tool development and continuous ongoing support. Furthermore, besides manual review, they also utilize tools like Slither, Echidna and Manticore to review, analyze and test codes.
$51 – $100 /hr
Having worked with over 85 crypto organizations, including Compound, Maker, Rarible, Kyber Network and Curve, ChainSecurity is a top-tier firm focused on blockchain and smart contract security. Their team of experts consists mostly of Ph.D. scholars and engineers from top Swiss universities and former Big 4 professionals. They have been a well-established smart contract audit company since 2017 and have extensive experience in complex Defi and high-value enterprise projects.
$51 – $100 /hr
“Crypto Smart, Beep Exchange”
SolidProof is a blockchain security firm based in Deutschland, Germany. Since its inception, SolidProof has conducted over 722 security audits and 255+ KYC verifications for more than 550 clients and is thus one of the top blockchain security players in the market. Their team of security auditors compiles individual reports identifying vulnerabilities and grading their severity. They have worked with top-tier clients likeCoinxPad, Checkdot, Platinum, and Red Hat, among others.
$51 – $100 /hr
With the objective of “Securing Blockchain Ecosystem,” Beosin offers a comprehensive range of blockchain security solutions covering Smart Contract Audit, KYT/AML, Risk Monitoring and Alert and Crypto Tracing. As a leading blockchain security company, Beosin has audited over 3000 smart contracts of top web3 projects like Uniswap, PancakeSwap, DAI and more and has fixed more than 1000 medium to high-risk security vulnerabilities. It adopts both manual and automated review and testing techniques for auditing and has secured over $502 billion in assets.
$26 – $50 /hr
251 – 1000
United States Postal Service
Smart contract audit companies play a crucial role in verifying the security and integrity of blockchain applications. Before deploying smart contracts on the blockchain, it is imperative to conduct comprehensive audits. Smart contract audit companies mentioned in this list possess a team of experienced auditors who use cutting-edge tools and techniques to discover potential vulnerabilities and suggest recommendations for code optimization.
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What is a smart contract audit?
A smart contract audit is a process of reviewing the code of a smart contract to identify any potential vulnerabilities or flaws. The purpose of a smart contract audit is to ensure the security, reliability, and accuracy of the smart contract.
Why is smart contract auditing important?
Smart contract auditing is important because smart contracts are self-executing and operate on the blockchain, which means that any errors or vulnerabilities in the code could potentially lead to financial losses or security breaches. By conducting a smart contract audit, companies can identify and address any potential issues before the smart contract is deployed.
How long does a smart contract audit take?
The duration of a smart contract audit can vary depending on the complexity of the smart contract and the scope of the audit. Typically, a smart contract audit can take anywhere from a few days to a few weeks.
What types of audits do smart contract auditing companies offer?
Smart contract auditing companies may offer various types of audits, including functional audits, security audits, and compliance audits. Functional audits focus on ensuring that the smart contract operates as intended, security audits focus on identifying vulnerabilities and potential security breaches, and compliance audits focus on ensuring that the smart contract complies with relevant regulations and standards.
How much does a smart contract audit cost?
The cost of a smart contract audit can vary depending on the complexity of the smart contract and the scope of the audit. Typically, smart contract auditing companies charge an hourly rate or a flat fee for their services. The cost of a smart contract audit can range from a few thousand dollars to tens of thousands of dollars.
How do I choose a smart contract auditing company?
When choosing a smart contract auditing company, it is important to consider factors such as the company’s experience, reputation, expertise, and cost of services. It is also important to consider the types of audits offered and the industries served by the company. Reading customer reviews and testimonials can also be helpful in making an informed decision.