When analyzing a crypto project, you must pay attention to the | 9RD Analytics

When analyzing a crypto project, you must pay attention to the security of smart contracts. It is unlikely that any of you can analyze a smart contract on your own, you need to be proficient in the appropriate programming language and have experience creating smart contracts. We have already written about the need for an audit.

How else can you evaluate whether a company is serious about the security of its code? You can do that by asking whether they have a Bug Bounty program. What budget it is allocated for, how many programmers and how often they participate in this program. What is the average amount per person and the total amount already paid. The answers to these questions will help you estimate the likelihood of a hack.

For example, the Zilliqa blockchain's Bug Bounty program has paid out $24950 over its lifetime, with an average payout range of $1200 to $6000 and a maximum payout of $10000. And the Aptos team gave $1 million to the same program. Clearly, such an amount should attract many programmers to the Bug Bounty Program.

These are circumstantial signs that allow you to add another fact to your analysis of the crypto project. This way your conclusions will be more accurate and logical. And so you will be able to make the right investment decisions.

We are trying to do more than just tell you our conclusions. We would like you to draw the right conclusions yourself. And to do that, you need to learn all the time. And we're here to help you do that.
#audit #security