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A Summary of

Ethereum smart contract best practices

ConsenSys Diligence
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The rise of cryptocurrency has seen increased popularity in the Ethereum coin. Ethereum’s blockchain can run many different programs, such as an Ethereum Smart Contract. However, there are some security aspects that programmers should look at before entering into the “smart contract.”

What To Know

  1. General Philosophy 
    1. Determine the proper balance of Rigid vs.Upgradeable; Monolithic vs Modular; and Duplication vs. Reuse to obtain the most secure smart contract for yourself.
  2. Smart Contract Recommendations
    1. It is recommended to secure your development of the smart contract by using caution when making external calls, marking untrusted contracts, and consistently checking your code.
  3. Known Attacks
    1. Beware of cyber attackers using reentrancy, suppression, displacement, and other attack methods when developing your smart contract.
  4. Software Engineering
    1. Upgrade your contract by using circuit breakers, speed bumps, rate limiting, etc. to keep up to date on all the latest software engineering regarding the smart contract
  5. Documentation & Procedures
    1. Understand the specifics of rollout plans, the status of deployed code, as well as known issues and history the contract has
  6. Security Tools
    1. Using Static and Dynamic Analysis along with Visualization and other security tools can improve the security of your contract tremendously 
  7. Tokens
    1. When dealing with Tokens, remember to comply with the latest standards and look out for attacks on your tokens.
  8. Bug Bounties
    1. Look into the various bug bounty programs available for Ethereum to improve your smart contract code.
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