Smart Contract Security

Definition ∞ Smart contract security concerns the measures taken to prevent flaws and vulnerabilities in self-executing contracts deployed on a blockchain. It involves rigorous code auditing, formal verification, and adherence to best practices to safeguard against exploits that could lead to loss of funds or manipulation of contract logic. Secure smart contracts are fundamental to the trust and functionality of decentralized applications.
Context ∞ Smart contract security is a perpetual concern in the cryptocurrency news cycle, with frequent reports of exploits resulting in substantial financial losses. Discussions often revolve around common vulnerabilities such as reentrancy attacks, integer overflows, and access control issues. The ongoing development of advanced security tools and auditing methodologies is critical for bolstering confidence in the smart contract ecosystem.