DeFi Auditing: Mechanisms, Effectiveness, and User Perceptions
| dc.contributor.author | Feng, Ding | |
| dc.contributor.author | Hitsch, Rupert | |
| dc.contributor.author | Qin, Kaihua | |
| dc.contributor.author | Gervais, Arthur | |
| dc.contributor.author | Wattenhofer, Roger | |
| dc.contributor.author | Yao, Yaxing | |
| dc.contributor.author | Wang, Ye | |
| dc.date.accessioned | 2023-08-30T17:53:51Z | |
| dc.date.available | 2023-08-30T17:53:51Z | |
| dc.date.issued | 2023-08 | |
| dc.description.abstract | Decentralized Finance (DeFi), a blockchain-based financial ecosystem, suffers from smart contract vulnerabilities that led to a loss exceeding 3.24 billion USD by April 2022. To address this, blockchain firms audit DeFi applications, a process known as DeFi auditing. Our research aims to comprehend the mechanism and efficacy of DeFi auditing. We discovered its ability to detect vulnerabilities in smart contract logic and interactivity with other DeFi entities, but also noted its limitations in communication, transparency, remedial action implementation, and in preventing certain DeFi attacks. Moreover, our interview study delved into user perceptions of DeFi auditing, unmasking gaps in awareness, usage, and trust, and offering insights to address these issues. | en_US |
| dc.description.sponsorship | This work was supported by grants from the Science and Technology Development Fund (FDCT) Macau SAR (File no. 0129/2022/A) and the University of Macau (File no. MYRG-CRG2022-00013-IOTSC-ICI, no. APAEM/SG/0005/2023 and no. SRG2022-00032-FST). | en_US |
| dc.description.uri | https://eprint.iacr.org/2023/1207 | en_US |
| dc.format.extent | 19 pages | en_US |
| dc.genre | journal articles | en_US |
| dc.genre | preprints | en_US |
| dc.identifier | doi:10.13016/m20dny-d4vu | |
| dc.identifier.uri | http://hdl.handle.net/11603/29446 | |
| dc.language.iso | en_US | en_US |
| dc.relation.isAvailableAt | The University of Maryland, Baltimore County (UMBC) | |
| dc.relation.ispartof | UMBC Information Systems Department Collection | |
| dc.relation.ispartof | UMBC Faculty Collection | |
| dc.rights | This item is likely protected under Title 17 of the U.S. Copyright Law. Unless on a Creative Commons license, for uses protected by Copyright Law, contact the copyright holder or the author. | en_US |
| dc.rights | Attribution 4.0 International (CC BY 4.0) | * |
| dc.rights.uri | https://creativecommons.org/licenses/by/4.0/ | * |
| dc.title | DeFi Auditing: Mechanisms, Effectiveness, and User Perceptions | en_US |
| dc.type | Text | en_US |
| dcterms.creator | https://orcid.org/0000-0002-5759-9793 | en_US |