Bittensor Subnets & Blockchain Smart ContractAudits
Security is critical in the blockchain space. Our comprehensive smart contract audit service helps everyone from startups to enterprises launch and maintain their Ethereum blockchain applications.
About us
Securing the Future of Blockchain with AI
The Bittensor ecosystem welcomes a revolutionary addition: BitAudit Subnet 32. In response to the growing threats in blockchain security, BitAudit leverages cutting-edge AI to safeguard smart contracts and entire networks.
Driven by the mission to democratize security, BitAudit offers free AI auditing services, empowering everyone to build trust in the blockchain space. Through meticulous manual audits, BitAudit builds a rich data foundation to continuously refine its AI models. Furthermore, collaboration is at the heart of BitAudit's vision, fostering partnerships with other subnets to develop specialized AI solutions for diverse blockchain security needs.
Benefits
Benefits of a Smart Contract Audit and BitAudit’s Ethereum Security Service
Our industry-leading suite of tools for blockchain security analysis, coupled with in-depth evaluations by our seasoned smart contract auditors, guarantees the readiness and user protection of your Ethereum application at launch.
Free AI auditing services:Advanced auditing services at no cost, making top-notch security accessible to all.
A Rich Database for auditing:Through meticulous manual audits, BitAudit plans to build a comprehensive dataset to refine its AI tools.
Collaboration for innovation:BitAudit is all about teamwork, joining forces with other subnets to create AI models specifically designed for blockchain auditing.
Looking ahead:The vision for BitAudit is a big deal – to develop an AI capable of auditing entire blockchain networks using the latest in AI technology, like reinforcement learning and transfer learning.
Research Analysis
The Need for Advanced Security Solutions in Blockchain
The cryptocurrency industry has seen its fair share of security breaches, with millions lost to hacks targeting vulnerabilities in smart contracts and infrastructure. Here are some stark examples:
- Major exchange breaches: Binance ($570 million in 2022), KuCoin ($275 million in 2020)
- Cross-chain bridge attacks: Ronin Network ($615 million in 2022), Wormhole ($320 million in 2022)
- DeFi protocol exploits: Grim Finance ($30 million in 2021), Meerkat Finance ($31 million in 2021), bZx ($55 million in 2021)
- Other notable incidents: DODO DEX ($3.8 million in 2021), dForce ($24 million in 2021), The DAO ($60 million in 2016)
While advancements in automated analysis tools exist, challenges remain:
- Focus on theory over practicality: Research often prioritizes novel methods over developing user-friendly, deployable tools.
- Lack of standardized evaluation: Evaluating tools often lacks consistent benchmarks and criteria, hindering comparison and real-world application.
Despite these challenges, the smart contract audit market is booming, projected to reach $6.8 billion by 2030. This growth is fueled by:
- Rising blockchain adoption: Increased use of blockchain technology across various industries.
- Growing security demands: Heightened awareness of security risks and regulatory requirements.
- DeFi's popularity: The surge of decentralized finance applications and the need to secure their underlying smart contracts.
BitAudit addresses these critical needs by leveraging cutting-edge AI to provide comprehensive and accessible security solutions for the ever-evolving blockchain landscape.
