We are big believers in auditor independence but would also like to highlight another aspect of why we are trying to transform the current audit system – the fact that not being rich should not prevent anyone from obtaining a smart contract audit. With basic audits costing 5K to 10K USD and complex audits as much as 100K USD, this creates a system where only extremely well-funded or independently wealthy dev teams can afford an audit for their smart contracts. This high cost of audit as a barrier to entry is one of the reasons we have created the Smart Contract Audit Token. Nobody ever has to pay for our audit services. The audits are funded by our Decentralized Autonomous Organization’s treasury. If Cardano or blockchain at large is truly meant to be for everyone, then we need to have certain critical infrastructure in place that allows anyone to build their vision, regardless of how wealthy or well-funded they are. Critical infrastructure such as free access to audit services. A resource where dev teams can obtain a comprehensive audit, receive feedback on any bugs or potential exploits they were unaware of, and demonstrate to the general public that their protocols are safe to use. Providing access to these critical pieces of infrastructure will: (1) increase competition which improves quality and lowers price; (2) increase innovation which bring cool new products to market; and (3) ultimately expedites blockchain adoption for the masses.
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Industry
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Technology, Information and Internet
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Company size
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11-50 employees
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Headquarters
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Auroa, CO
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Type
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Public Company
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Specialties
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Cryptocurrency and Audit
