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EY Blockchain Analyzer: Smart Contract & Token Review
As part of our blockchain platform, the Smart Contract & Token Review solution allows users to customize tests and reports, identify vulnerabilities, and mitigate risks in the token deployment process and the code underlying of smart contracts.
What EY can do for you
The adoption of smart contracts has increased significantly since the launch of the Ethereum blockchain. Smart contracts are becoming more complex. They govern ownership of digital assets and drive key business logic. Greater transparency around the execution of decentralized finance (DeFi) transactions will increase confidence for companies, investors, and end-users.
Smart Contract & Token Review is an analytics tool (shown above) aimed at increasing confidence that organizations have around the design, usage, and deployment of blockchain-based applications.
It provides:
- Security – Identify common vulnerabilities and mitigate risks by utilizing customized tests to assess alignment with industry standards and best practices
- Business logic alignment – Understand the expected outcome of the business logic within the smart contract’s code to assess the intended system design and functionality
- Simulation – Create “what-if” scenarios, run pre-defined automated tests and simulate smart contract execution in Ethereum by configuring selected functions into a workflow
The business benefits include:
- Trust – Increase trust between counterparties in your DeFi ecosystem to help assess the validity of cryptocurrency tokens and smart contracts
- Transparency – Gain insights about the potential behavior of the token or smart contract’s functionality, security, compliance, and design implications
- Reduced risk – Provide information to help mitigate the blockchain’s operational and inherent risks