What is OpenZeppelin?
OpenZeppelin is a framework that allows users to build secure dApps. The platform is open-source and has tools to create and automate Web3 applications. It’s an operation platform aimed at providing maximum data safety.
The secure smart contracts that OpenZeppelin provides are continually reviewed by the community to meet the highest industry standards and security practices. Community members can search for errors and vulnerabilities, and a bug bounty program provides a reward in case an actual vulnerability is found.
Transactions, which anonymous parties conduct between each other with the use of OpenZeppelin smart contracts, are therefore trustable, unchangeable and secure. OpenZeppelin offers libraries of such smart contracts, created in Solidity for distributed ledger technologies.
The community reviews those contracts, making them even more secure for the developers, who can choose existing pre-audited patterns from the library. The developers do not have to create specific security tools and features for their own smart contracts for as long as they can pre-packaged smart contract patterns from the OpenZeppelin archive.
The library of OpenZeppelin offers developers several convenient features, including:
- Implementation of ERC-20 and ERC-721 standards
- Very flexible role-based permissioning scheme
- Reusable solidity components
- Access to generic productive tools (including reliable payment systems and signature verification)
- Stable API in contracts, which helps bring down the risks of errors after an upgrade
- The ‘Contracts Wizard’, which allows users to build their own contracts using the components available at OpenZeppelin
- The ‘Defender’, a SecOp platform at OpenZeppelin, which simplifies execution and administration of smart contracts by automation of the majority of operations
and other useful items, including access control and tokens.
OpenZeppelin advantages and use cases
What are the advantages and use cases?
- Access control. It offers developers a way to easily manage and decide by themselves the level of access to particular resource or system functionality of any user involved. Thus unexpected failures would not lead to an account being stolen.
- Governance protocol. The community discusses and takes the final decision in any important cases (e.g. upgrades, integration with other protocols, treasury management and the like).
- Solidity interference. All changes are made through the creation new modules, without need for hard fork
- Upgradable plugins. They help to utilize upgradable contracts and upgrade the existing, running ones, but also simplify the management of proxy admin rights and the use of contracts in tests.
- Upgradable contracts. Smart contracts can be upgraded if deployed with OpenZeppelin Upgrades Plugins.
- Proxy contracts. They feature documentation for low-level use, without involving upgrading of plugins in the process.
- Ownership. The user can define ownership within the contracts and, at the same time, transfer it from one account to another on their own choice and ‘roll the process back’ if they like.
- SafeMath. This tool helps to make accurate calculations. It can prevent an overflow error, when the value in the math operation is not within the range.
- Gas Station Network. It helps to create dApps in which the owner pays instead of their users who can act without appropriate ETH volume in the wallet.
About SmartState
Launched in 2019 and located in Dubai, SmartState is retaining the place of one of the leading DeFi security auditing companies. We test the security of the code core, smart contracts and blockchain for all types of errors or vulnerabilities, which can jeopardize the contract.
Even though SmartState triggered the operations with smart contract auditing of DLT-projects, from the first steps we made our services go beyond the limits of understanding the smart contract audit and security check.
We specialize in manual testing, so the SmartState’s tech team of white-hat security professionals carefully measures up a project’s git, searching for vulnerabilities and logical errors.
SmartState supports clients with guidelines and recommendations for the further advancement. Security audit reports review the threats and vulnerabilities with which codebases may be later exploited, because the network achieves scalability and expands to accommodate more use cases and functionality.
Stay tuned and know more about us and what we provide on our:
