Tier 1 Smart Contract Auditors: Hashlock, Cyfrin, CertiK, OpenZeppelin, SolidProof

Security is the leading concern of every new project foraying the crypto space and the emerging Web3 industry. Recently, these sectors have built a bad reputation as the preferred playgrounds for scammers, fraudsters, and money launderers. For instance, Web3 lost over $3.8 billion to security loopholes and vulnerabilities only in 2022. This unsettling statistic may increase if not for the ongoing efforts of smart contract auditors.

Fortunately, employing security auditing in crypto and Web3 is an increasingly popular trend. Established auditors help secure the industry by validating smart contracts and development teams. Meanwhile, up-and-coming companies bring innovative tools and educational series, earning their rightful inclusion in the top tier of blockchain security providers.

Read on as we unveil the leading smart contract auditors making a difference in crypto and Web3. Discover how their safeguarding initiatives help build a sustainable future for the industry.

Hashlock is an Australian company specializing in blockchain security and smart contract auditing. They've established themselves as industry leaders by offering an extensive range of services, including initial consultations, project scoping, and comprehensive audit reports. Their process is meticulous, starting with understanding a client's specific needs, reviewing the code and technology, and issuing preliminary reports detailing all vulnerabilities and recommended fixes.

Clients praise Hashlock for their dedication and thoroughness, with testimonials highlighting the team's commitment to going the extra mile. Hashlock also provides post-audit services, such as on-chain monitoring and bug bounty management, ensuring ongoing security for blockchain applications.

Furthermore, Hashlock's affiliation with Fintech Australia and Blockchain Australia, reflects their reputable status in the industry. The breadth of their services, from security consultation to active support like on-chain monitoring, positions Hashlock as a holistic provider for blockchain application security.

Hashlock demonstrates a strong commitment to blockchain security through a comprehensive suite of services that cater to the entire lifecycle of a smart contract. Their process begins with an in-depth initial consultation to understand each project's unique requirements. Following this, they perform meticulous project scoping to accurately estimate the work involved. 

Clients receive detailed preliminary reports listing vulnerabilities and suggested remedies. Hashlock's rigor is further shown in their re-audit process, ensuring no issues remain unaddressed. The final audit report is a testament to their thoroughness, and the choice to make it public rests with the client, supporting transparency and trust.

The first on our list of tier-1 smart contract auditors is Cyfrin, a Web3 security company focusing on delivering industry-leading protection. Its goal is to create a safe, reliable, and transparent environment for everyone in Web3 and DeFi.

Despite its relatively budding development, Cyfrin is already an established brand among smart contract security providers. The company specializes in advanced auditing of smart contract architecture. To this end, it works closely with the developers while going line by line to secure the code. This process helps projects obtain a higher security standard and launch successfully with minimal safety risks.

Cyfrin helps project creators at every step of their security journey. For example, the company's code reviews guide developers to build functional and efficient decentralized applications using the right tech stack. Besides saving costs, the reviews help them better understand the system and prepare for a complete security audit.

The Cyfrin team comprises some of the top engineers and auditors in the DeFi and blockchain space. Its leaders are Patrick Collins, an expert software engineer (CEO and co-founder), and Alex Roan, an ex-Chainlink Labs engineer (CTO & Co-Founder). The team includes Fintech and Solidity experts and the #1 ranked auditors on Code4rena, a competitive smart contract auditing platform.

Cyfrin has an ambitious plan to create the #1 Web3 developer education course on the planet. Its expert team is developing an extensive library of educational materials, including tutorials, how-to videos, in-depth analyses, and accessible courses. This series will soon have a dedicated website where upcoming developers and crypto enthusiasts can learn more about smart contract security.

Ultimately, Cyfrin aims to provide world-class smart contract auditing and Web3 education. The company should help change the current narrative and push the security space forward.

CertiK is another top-tier security company providing formal verification technology for blockchain-based projects. The company has been operating since 2018, serving over 3,800 clients and detecting more than 60,000 smart contract vulnerabilities. Behind this ambitious initiative is a group of Yale University and Columbia University professors. Their mission is to deliver a comprehensive suite of tools to secure the industry at scale.

Like most crypto auditors, CertiK specializes in smart contract security assessment and KYC verification. However, this company stands out through innovative products that helped it build a solid portfolio of prestigious brands. Its prominent clients include Aave, BNB Smart Chain, Terra, Yearn, Polygon, and Chiliz.

One of CertiK's most sought-after tools is Penetration Testing. The company employs cutting-edge technology to replicate black hat hacker attacks in realistic simulations. Project developers can use this service to find flaws before potential attackers do. Moreover, it increases project security, whether it is a wallet, an exchange, or a decentralized application.

Skynet is CertiK’s end-to-end security tool mixing on-chain and off-chain data to produce an all-in-one security analytics platform. Clients can rely on this service for data-driven insights into Web3 projects and communities. Other helpful CertiK tools include SkyHarbor, a digital asset-monitoring service, SkyTrace, a wallet-tracing feature, Layer-1 chain security assessment, and advisory services.

CertiK maintains its industry-leading position with proprietary mathematically-tested methods for validating smart contracts. Furthermore, it explores the crypto space past auditing and verification. For instance, the company built a public blockchain, CertiK Chain, to leverage its formal verification platform.

OpenZeppelin is a cybersecurity technology and services company offering security products to build, automate, and operate decentralized applications. The company is also among the most seasoned auditors in crypto, operating since 2015, albeit for the first 4 years under the name Zeppelin. Its services are unanimously acclaimed within the industry, allowing the company to brand itself as the “standard for secure blockchain applications.”

Numerous new projects seeking smart contract auditing apply for OpenZeppelin’s security tools. The company employs highly-skilled professionals worldwide and safeguards tens of billions of dollars in funds for leading crypto organizations. Some of the biggest brands endorsing OpenZeppelin include Coinbase, Ethereum Foundation, Compound, Aave, and The Graph.

Many auditing companies diversify their services, essentially becoming jacks of all trades. OpenZeppelin diverges from this trend by providing a limited yet proficient list of high-performance products.

The company’s security audits verify the projects’ distributed systems function as intended. The team’s expert engineers review these systems’ architecture and codebase thoroughly. Next, they compile a comprehensive report, including actionable feedback for every issue they encounter. This way, even the least experienced developers can get a hint on how to improve the security of their smart contracts.

The OpenZeppelin Contracts are Solidity libraries helping projects minimize security risks. This feature comprises "battle-tested" smart contracts for the Ethereum network and other blockchains. Moreover, it includes the most used implementations of ERC standards. Also, it enables developers to start coding while using standard, tested, community-reviewed code.

Another popular OpenZeppelin security solution is Defender. This tool lets clients automate smart contract operations and create high-quality products with minimal risk. The company continues its mission to secure the crypto and Web3 space with consistent development. For example, in 2021, it announced a $23 million investment in Forta, a security service focusing on smart contracts.

Solidproof is among the top auditing companies in crypto, blockchain, and the Web3 industry. Its main areas of expertise include smart contract verification, in-depth KYC procedures, and high-security data storage. However, the Germany-based company also provides prime marketing solutions to help projects raise awareness and gain supporters.

Smart contract security became a major concern following the DeFi boom of 2020. Solidproof launched immediately after seeking to secure an emerging industry in danger of being overrun by scams and fraudsters. The company quickly earned the crypto community's trust thanks to its "Made in Germany" blockchain security solutions. To date, Solidproof has serviced over 800 clients, performing more than 770 audits and roughly 330 KYC verifications.

Project developers can rely on Solidproof’s simple but effective auditing process. After agreeing on a quote, the company’s expert auditors check the project’s contracts manually line-by-line. Clients can then encounter all the potential vulnerabilities in the audit report and attempt to solve them. This process repeats until the smart contract’s code is flawless and ready for launch.

Alternatively, customers can opt for Solidproof's Automated Audit Tool to verify their smart contract codes quickly and efficiently.

A successful KYC verification from Solidproof is a stamp of approval for any crypto or Web3 project. The company provides reputable Know-Your-Customer procedures, including advanced authentication of each team member, live calls, and internal reviews. This way, the project team proves its valid background, and potential supporters are sure they are not funding a scam.

Solidproof supports up-and-coming projects to gain more support in the crypto community, social media followers, and other marketing services. Some of its clients include Etna Network, PulseX, ShibaMoon, and Daima Token. Lastly, the company partnered with prominent brands like Unicrypt, Etherlite, and Pathfund.

These tier-1 smart contract auditors are the primary go-to security providers for upcoming and established projects in crypto, blockchain, and Web3. Their cutting-edge auditing tools, KYC procedures, and security tools are vital in the industry's strenuous mission for a safer and more sustainable future.