Smartlink: Discover how we strengthened the security of its smart contract.

July 25, 2023
8 minutes
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Case Study - euraNov conducted the audit of Smartlink's smart contract.

Since 2015, euraNov has been providing support to businesses in their digital transformation, specifically focusing on the integration of blockchain technologies into companies.

euraNov is a digital innovation agency that strives to make cutting-edge technologies accessible to all, spanning from digital marketing to blockchain application development.

After successfully executing the first Smart Contract Escrow for Smartlink, euraNov was entrusted with auditing Smartlink's Smart Contract Escrow V2. Smartlink offers a suite of web3 tools, eliminating intermediaries and bridging e-commerce with blockchain services, featuring a non-custodial Escrow exchange platform for secure and direct global transactions.

The audit's objectives were multi-faceted:

       - To meticulously assess the functional and technical coherence of Smartlink's developments on their Smart Contract Escrow V2.

       - To conduct rigorous verification procedures, employing advanced technical tests to ensure robustness and reliability.

       - To provide actionable recommendations for optimizations and improvements.

       - To generate a transparent public report, benefiting the entire Smartlink community, including users, partners, and clients.

In the capable hands of our blockchain expert, Maxance, the audit proceeded through a carefully orchestrated series of steps:

Step 1:

Armed with technical and functional requirements, Smartlink furnished euraNov with crucial details about the Smart Contract and its repository. Scrutinizing these specifications, we gained a profound understanding of the Smart Contract's core functionalities.

Step 2:

An exhaustive analysis ensued, with meticulous attention to detail, to ascertain the Smart Contract's adherence to the specified technical and functional requirements, alongside unearthing any potential design flaws.

Step 3:

Line-by-line examination of the Smart Contract code became our priority, ensuring logical coherence, adherence to best practices, and the elimination of any lurking bugs or vulnerabilities.

Step 4:

We meticulously documented all identified errors, anomalies, and developer choices, preparing the groundwork for comprehensive discussions.

Step 5:

Armed with this in-depth analysis, our team produced an extensive audit report, thoughtfully incorporating findings, comments, feedback, and actionable advice on information, optimizations, and technical enhancements. The report aimed to empower Smartlink with valuable insights.

Step 6:

To foster collaborative growth, a dedicated workshop was organized with Smartlink, allowing us to deliver feedback and gather their valuable input.

Step 7:

Taking into account the feedback and suggestions, we conducted a supplementary audit of the Smart Contract's modifications. The audit report was diligently updated to reflect the latest changes before final delivery.

Step 8:

In line with Smartlink's endorsement and to promote transparency within their ecosystem, the audit report was made publicly available.

Interview with Olivier AUDINO, co-founder of Smartlink

  • Why do you use cryptocurrency for transactions?

We use cryptocurrency for our transactions because it offers several benefits. The blockchain, the foundation of cryptocurrency, enables transparent, secured, and faster transactions. Additionally, cryptocurrency transactions can be conducted anytime and anywhere in the world without the need for a financial intermediary. This reduces transaction fees and increases the efficiency of our platform. Furthermore, Smartlink now incorporates an additional layer of security through the inclusion of escrow accounts in our Smart Contracts. This ensures enhanced trust for all parties involved in the transaction.

  • What are the stakes and objectives of the smart contract developed by Smartlink?

The smart contract developed by Smartlink aims to simplify transactions between buyers and sellers on our payment platform. It automates the transaction process, ensuring that the agreement's conditions are met before payment is made using an on-chain crypto escrow mechanism. The buyer locks their funds in the smart contract, awaiting delivery of the products or services by the supplier. Upon receipt, the funds are released to the suppliers. In case of disputes, amicable agreement mechanisms or arbitration are available to reach a favorable resolution for all parties. This guarantees security and trust between the parties.

  • Why do you conduct an audit of your smart contract?

Auditing our smart contract is a crucial step to ensure the security and reliability of our platform. Poorly designed or error-ridden smart contracts can have serious consequences, such as loss of funds or compromised transaction security. The audit allows us to detect and correct these issues before they become problematic.

  • What were the findings of the audit? How did it improve your smart contract or associated processes?

Having an external and professional review of a payment smart contract with escrow accounts is essential to reassure the Smartlink team and users. The audit identified several points for improvement but no critical problems. Among the areas for improvement were recommendations to optimize the code's efficiency and enhance its clarity. These suggestions helped us improve our smart contract, making it more efficient and easier to maintain.

  • Would you recommend euraNov for smart contract audits?

Without hesitation, we would recommend euraNov for smart contract audits. They demonstrated great professionalism and expertise throughout the audit process. Their recommendations were invaluable in helping us improve our smart contract and ensure the security of our platform.

In conclusion of the audit, euraNov highlighted:

  • Implementation of security measures and best practices in coding to defend against potential attacks.
  • No major issues found in the analyzed smart contracts.
  • Clearly defined functions, reducing unintended behaviors.
  • Correct use of modifiers for access control and condition checks.
  • Use of a stop function to halt smart contract activity in case of problems.

Performing a Smart Contract audit is pivotal in the development of Blockchain projects. It ensures compliance, strengthens development security, and fosters trust among your ecosystem of partners and clients.

For more information, you can get in touch with euraNov...

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