The KnownSec blockchain security team tested the KIOS smart contract. They then published their report, and as of their report, the KIOS smart contract passed with flying colors. Audits in the smart contract space are becoming more and more important. However, not all projects are audited, which is why auditing is important. Here are some other reasons why a smart contract audit is important.
Helps Identify Potential Problems
For those looking for a project to participate in, an audit is always important. It shows that those behind the project are serious about protecting project participants. The KIOS project's smart contract audit demonstrates how committed the team is to safeguarding the interests of its users.
In recent months, several smart contracts have been breached and tokens have been stolen from hundreds of thousands of participants. Therefore, it is always advisable to address any security issues before they occur.
Shows that the project is serious about launching
A project that was built as a scam would not bother to invest in a security research team to verify its smart contract.
Instead, they would focus most of their attention on trying to get as many people as possible to join with as few resources spent. For a project to spend valuable resources on an audit shows that they are serious about the final release.
Gives participants the opportunity to study the audit
While a security audit is often thorough, there is always a risk that an issue will be missed. By publishing an audit report, KIOS allows potential participants to verify the audit themselves. If you find any problems, the KIOS team is open to suggestions.
They will carefully analyze the problem with their team of experts and correct any loopholes that may exist. An audit shows that a project is open and willing to be corrected by its participants.
Ensures everything works as described
In some cases, there may not be any security issues with the smart contract. However, a project may claim to have certain capabilities that it cannot offer. Through an audit, it helps confirm that all advertised capabilities can be achieved.
Auditing a smart contract typically involves rigorous testing before the smart contract goes live. These tests verify all aspects described in the project to ensure that it works. If a problem is found, it can be corrected quickly to avoid frustrating participants with promised functionality that doesn't exist.
Helps eliminate errors
While some bugs may not pose a security threat, they can make a smart contract slower than intended. On top of that, they can make it difficult to integrate with some platforms. A smart contract audit helps ensure there are no bugs that could impede the functionality of a project.
Summary
KIOS commissioned a full audit of its smart contract and then published the report. From the report, the participants will find that it passed the audit successfully. No issues were found and participants can rest assured of the security of their tokens.
The total supply of KIO is 600 million; the total supply of KIS is 3 billion. Later we will be listed on JustSwap as well as other exchanges. Join our community now and stay tuned!
