Comprehensive security checks are now possible at only 10% of the traditional cost. The price and report creation is 10 times faster and cheaper than traditional firms. This firm has optimized for projects that ‘want to audit contracts but have limited budgets’ or ‘wish to conduct an initial audit during the development stage.’
Bunzz, a Singapore-based Web 3.0 x AI tech startup launches Bunzz Audit, an AI-driven smart contract auditing service offering fast, cost-effective audits with actionable insights for security improvements, scanning contracts from over 100 perspectives using AI and an extensive database.
Overcoming the challenges of traditional smart contract audits in blockchain projects
Blockchain-related projects trade users’ assets on-chain, and the smart contracts governing this logic are at risk of being attacked.
As a measure, smart contract audits are conducted but users of existing major audit firms face the following challenges.
- The cost of traditional audit firms is very high from $10,000 to $1,000,000.
- Emphasis is placed on the ‘seal of approval’ from major audit firms, making the original goal of improving security a mere formality.
- Engaging an audit firm can delay product launches or token listings due to the time taken for audits.
- The accuracy of reports and the cost of communication can be unstable depending on the audit firm’s personnel.
As an approach to solve these issues, Bunzz, the smart contract development infrastructure, has researched and developed an AI-based audit service, Bunzz Audit.
In the open beta version in January 2024, Bunzz received a lot of positive feedback, and it has now officially launched Bunzz Audit as a formal version.
Visit the product page here.
The significance of using AI for smart contract audits
The tasks performed by audit firms can broadly be classified as follows.
- Comparing clients’ contracts with previously identified vulnerability patterns to detect vulnerabilities.
- Detecting vulnerabilities derived from project-specific logic or operational inconsistencies.
For the first task, vulnerabilities in smart contracts are normally checked by humans reviewing the source code.
However, due to variations in auditors’ knowledge of vulnerability patterns and their detection capabilities, oversights due to human error are a current issue.
In this regard, Bunzz Audit owns a database of previously discovered vulnerability patterns and adopts an auditing method that scans code from over 100 perspectives.
This approach allows for comprehensive coverage and accurate, omission-free vulnerability identification, which is physically impossible for humans.
From the results obtained through research and development, Bunzz believes that for detecting vulnerability patterns as in the first task, a database plus AI approach is more suitable than a human approach.
Regarding the second task of detecting vulnerabilities specific to a project’s logic, this is not addressed by the above approach but rather by professional auditors from the Bunzz Audit team (as an option).
Clients can choose between two types of audits one that only reviews the code and another comprehensive audit that includes both the code and the project-specific logic.
Bunzz is currently distributing a promotion code for Bunzz Audit
Currently, Bunzz is distributing a 10% discount promotion code for free. Using this code, audits are available for $1,791.
The fee remains constant regardless of the amount of source code or the level of vulnerabilities found, allowing for the highest level of ROI in the industry. Please give it a try.
Users can get their promotional code here.
About Bunzz
Bunzz is a leading company in Web 3.0 x LLM, operating Asia’s largest DApps development infrastructure.
We develop and provide various Web 3.0 infrastructures and services aimed at realizing ‘smart contracts as a public good.’
Shareholders include Arriba Studio, Coincheck Labs, DG Daiwa Ventures, Gmjp, East Ventures, GMO AI &Web3, GREE Ventures, Hyperithm, Kotaro Tamura, Kazutaka Mori, Mint, SPIRAL VENTURES, 01Booster Capital and Ceres.
For more information, visit the links below.
Blog | X | Discord | YouTube | LinkedIn | Luma
Bunzz projects
- Bunzz Audit AI-based audit firm
- Smart Contract Hub a platform for sharing smart contracts
- DeCipher Read me’ for all contracts
- Bunzz for Enterprise providing tier-one technical resources to Japanese companies
Contact
Trust Oyafemi, developer relations manager at Bunzz
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
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