Glossary
Audit
A structured review of a smart contract's code by specialists, looking for vulnerabilities, design flaws, and incorrect implementations of the spec.
A smart contract audit is a manual + tooling review by a security firm (Trail of Bits, OpenZeppelin, ChainSecurity, Spearbit, Sigma Prime, Code4rena, Zellic, and many others). Auditors look for classic vulnerabilities (reentrancy, integer overflow, access-control bugs) and for logic errors specific to the contract's intent.
Audits are not proofs of safety — they reduce risk but do not eliminate it. Most major exploits in 2022–2024 hit code that had passed at least one audit. Reading the actual audit reports tells you far more than knowing that an audit happened.