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Algorand Smart Contract Security Audit

To develop secure dApps on the immensely powerful Algorand blockchain, take on board QuillAudits to check for security vulnerabilities.

Launch your project on Algorand blockchain in peace, with QuillAudits securing your code from unexpected assaults of hackers and preventing a derailment of your plans. High time you use super-quick and advanced Algorand while we cement its integrity.

Algorand Smart Contracts Audit, Why Is It Necessary?

Algorand has made the creation of fast, inexpensive, and scalable Web3 applications possible. But, unfortunately, as its adoption grows, so do the security threats. Hackers and cybercriminals look for ways to exploit the weaknesses of smart contracts driving these applications, putting your users’ crypto assets and data at risk. No one wants that to happen, especially not us. At QuillAudits, we conduct a thorough check-up of your smart contracts to address all security concerns. Our Algorand smart contract audits will get you:

Prevention of NFT Counterfeiting

Complete Vulnerability Check

Our in-house security experts manually review and authenticate every bit of code to identify and mitigate all possible risks and vulnerabilities.

Code Patch-up

Bug Fixes

Get the code audited as you develop to eliminate all potential vulnerabilities that may otherwise go unnoticed before it's too late.

Check Gaps in Minting Process

Scheduled Auto Scans

Auditing once isn't the end, as regular scans help maintain integrity and security throughout future development cycles.

Ensure accessibility of virtual asset

Comprehensive Reports

QuillAudits reports summarize the project and describe each vulnerability with specific reference to relevant portions of the smart contract.

How do Algorand Smart Contracts Audit work?

Algorand is a relatively new yet widely adopted protocol for building web3 dApps and with its highly advanced and open source technology, is well-positioned to create a borderless economy where everyone can participate. Algorand has multiple uses in the Decentralized Finance (DeFi) sector and it also facilitates NFT trading, which is currently a growing trend in the market. Low fees and faster settlement provide the perfect opportunity for trading financial assets. All things considered, the security of the Algorand projects should be impeccable and of the utmost importance. However, the ecosystem's security depends on the specific security of each project that makes up the network of dApps and initiatives that Algorand is developing to ensure it is on par with the current set of existing dApps in terms of both usability and security. Enabling all this is QuillAudits three part algorand smart contract audit process.

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Our Audit Process

At QuillAudits, we follow a standardized process for a smart contract audit on Algorand blockchain:

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Benefits Of Algorand Smart Contract Audit

To ensure security and adequate functionality of the project, you need smart contracts to work exactly as intended. Audit of a smart contract on Algorand blockchain helps detect issues that might hamper operations or even pose a security challenge. Worse, a malfunctioning code piece could create a loop that drains the smart contract of all the funds. A detailed audit of the smart contract instills confidence in your investors and clients. Major advantages of the audit service include:

Standard for serious projects

Audit is one of the foremost factors people take into account before participating in a project. Certain audit providers, riding on impeccable track record, are regarded as authentic service providers, getting their audits more credibility in the opinion of the possible stakeholders.

Prevent costly vulnerabilities

Minor coding errors could lead to tremendous losses. In Jan 2022, hackers exploited a previously unknown vulnerability in Algorand-based decentralized platform Tinyman resulting in a loss of $3 million. Audit prevents such loopholes, thus plugging such leaks.

Ensure code optimization

When auditing, we look at efficiency and optimization as well. Often, to complete an intended function, a smart contract needs to execute a complex series of transactions. It is for developers to optimize performance of every step.

Check oracles

Oracles are a key part of the dApp ecosystem. To explore the vulnerabilities in real terms, checking Oracles becomes imperative. On your request, we can audit oracles integrated with the project, whether they are part of the project ecosystem or are external oracles.

Examples Of Hacks And Scams

Each year, millions drain down the crypto hacks. Here are a few examples how hackers took advantage of the loopholes in the code to escape with millions:

In March 2022, $615M were stolen from Ronin Network, a platform powering the popular mobile game Axie Infinity.
In August 2021, the criminals transferred $611m-worth of Poly Network tokens to three wallets they controlled.
In September 2020, $275m worth of cryptocurrency was stolen from Singapore-headquartered exchange KuCoin.

Top ten biggest cryptocurrency thefts by estimated losses as of june 2022


Top ten biggest cryptocurrency thefts by estimated losses as of june 2022


Values calculated according to cryptocurrency prices at time of theft
Source: Statista/Bloomberg, Business Insider, TechCrunch, CNBC, Ronin Network, Vice.

Frequently Asked Questions

What is Algorand ?
Standing out for speed of transactions and advanced smart contract capabilities, Algorand is world’s first carbon negative, permissionless blockchain protocol designed for application development on its top and value transfer.
The Algorand platform is designed to process a large number of transactions quickly, much like a major payment processor such as Mastercard or Visa. It also employs a pure proof-of-stake (PPoS) operating protocol, which recruits network operators from the entire pool of ALGO coin holders.
The blockchain is intrinsically designed to solve three major problems blockchains come across – security, scalability, and decentralization – commonly termed the ‘blockchain trilemma’.
What are the common vulnerabilities in a smart contract?
Common types of security issues in smart contracts include Reentry attacks, Frontrunning, Integer overflow and underflow, Timestamp dependence, and Denial of service (DoS) attacks.
What is the duration of the audit?
Time taken for the audits differs according to several factors. Audit of simple token contracts can be usually done in a few days. If a project is complex, such as insurance of crypto assets, it is likely to consume several weeks.
Will it be a good step to include the audit in the smart contract development lifecycle?
Certainly. Factor in the auditing process and time to implement recommended changes when scheduling a release date.
What is an automated smart contract audit?
With the automated process, we use advanced software and tools to execute your code and detect common vulnerabilities. Automated process, however, has its limitations as it might raise false positives and fail to pick more complex security flaws.
What constitutes reporting in the auditing process?
Post automated and manual auditing, you receive suggestions for plugging the code vulnerabilities. When changes are implemented, the team checks the code again for possible anomalies.

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