As you would possibly count on, this depends upon how complicated a wise contract is.
Based on Hacken, this will lengthen to $500,000 for bigger tasks the place there are extra strains of code — not least due to the extra engineering hours it will take.
The corporate argues these prices pale into comparability with the financial harm {that a} sensible contract vulnerability can convey.
Hacken cites information displaying that, in 2021, 80% of the incidents affecting decentralized purposes associated to sensible contracts — with losses hitting $6.9 billion.
Breaking this down even additional, and we are able to see that the typical value per mission stands at $47 million. In some way, $500,000 seems quite a bit inexpensive now.
Total, 60% of its shoppers have been primarily based on Ethereum up to now in 2022.
And here is the distinction it may well make — after an audit, no less than one essential bug was uncovered in 80% of tasks. However Hacken says simply 75% have absolutely acted on an audit report previously — with the rest ignoring the conclusions, or solely taking a small variety of suggestions into consideration. Because of this, that they had a decrease safety rating.
