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There are audits that most projects do with crypto auditing software firms. These are usually announced publicly. That gives you some credibility in the space.
by kranke155 5y ago
There are audits that most projects do with crypto auditing software firms. These are usually announced publicly. That gives you some credibility in the space.
IMO security just comes from time spent operating vs amount of hacks. If you've been operating for a couple of years with no known hacks then I trust the team behind the project.
- raesene9 5y agoaudits are a signal for sure, but can an end-user tell a good audit from a bad audit? Also as monox (who got hacked this week) shows 3 audits this year are no guarantee https://docs.monox.finance/library/audits https://docs.monox.finance/library/audits
- awr 5y agono audit's going to pick up every possible issue or potential exploit, but it does help weed out the obvious scams. The entry to creating your own token is so low that people with little to no coding experience are attempting to add/modify functionality. Community insistence to get audited is useful to pick up on these.
- kranke155 5y agoI don't know those companies. There are only a few companies I'd trust with crypto audits.