The problem of centralized smart contracts audits

The realm of decentralized finance (DeFi) has witnessed unprecedented growth, bringing with it an increased reliance on smart contracts. However, as the complexity and value locked in these contracts grow, so does their attractiveness to malicious actors. Traditional smart contract audits face several challenges:

• Speed: The traditional audit process is manual and time-consuming, often lagging behind the rapid deployment of new contracts and updates.

• Cost: Professional auditing services can be prohibitively expensive, making them inaccessible for smaller projects.

• Scalability: As the number of smart contracts increases, the existing pool of human auditors cannot keep pace, leading to a bottleneck in audit availability.

• Complexity and Novel Vulnerabilities: New patterns of vulnerabilities emerge as smart contracts become more complex. Traditional auditing methods may not quickly adapt to identify these novel threats.

• Centralization and Bias: The centralized nature of auditing firms can lead to potential biases or conflicts of interest in the audit process.