Learn Smart Contracts Technology

How are smart contracts security audits performed?

Smart contracts are key in decentralized finance (DeFi) by automating deals without middlemen. To keep these digital agreements safe, smart contract security audits are vital. Sadly, over $5.13 billion has been lost in DeFi due to hacks, showing how important strong blockchain security is. These audits find weaknesses and bugs in a contract’s code. They…

Learn Smart Contracts Technology

What is the role of the OpenZeppelin library in developing smart contracts?

The OpenZeppelin library is key in smart contracts development. It offers secure, reusable code templates for blockchain apps. This library helps follow best practices, making apps more secure and reliable. It includes important Solidity programming parts. This helps developers make strong, standard contracts. For example, it supports ERC20, ERC721, and ERC1155 token standards. It also…

Blockchain Technologies and Techniques

What is the role of the Proof of Authority (PoA) protocol in blockchain?

Proof of Authority (PoA) is a new way to agree on blockchain networks. It was created in 2017 by Ethereum co-founder Gavin Wood. Unlike other methods, PoA uses trusted validators instead of solving complex math problems or staking money. This method makes blockchain networks faster, more efficient, and secure. It uses the good names of…