How do you audit smart contract performance?

1 Why audit performance?

Auditing smart contract performance is not only about locating and rectifying errors, but also about optimizing and improving the code. This process can reduce gas costs and improve user experience by minimizing the amount of computation and storage needed. Additionally, it can avoid unexpected behavior and outcomes by verifying the logic and functionality, as well as prevent malicious attacks and exploits by identifying and eliminating potential vulnerabilities. Finally, it can ensure compliance with standards and best practices by following the guidelines and recommendations of the Web3 community.

2 How to measure performance?

To measure the performance of a smart contract, you need to use metrics and benchmarks that reflect its efficiency and effectiveness. Gas usage, execution time, and code quality are all important metrics to consider. Gas usage is determined by the complexity and size of the code, as well as the network conditions and demand. You can utilize Etherscan or Remix to estimate and track gas usage. Execution time depends on the speed and availability of the blockchain network, as well as congestion and competition. Ganache or Truffle can be used to simulate and measure execution time. Lastly, code quality is based on the style, structure, and documentation of the code, as well as adhering to coding standards and conventions. Solidity or Solhint can be used to check and improve code quality.

3 How to test performance?

To test the performance of a smart contract, you need to use methods and scenarios that simulate its real-world usage and behavior. Unit testing, for example, tests individual components or functions in isolation to verify their correctness and functionality. You can use frameworks like Mocha or Chai to write and run unit tests. Integration testing, on the other hand, verifies the compatibility and coordination of the smart contract with other components or contracts. Frameworks like Truffle or Hardhat can be used for this purpose. Lastly, load testing evaluates the scalability and robustness of the smart contract under high or variable load or stress. Tools like LoadImpact or K6 can be used to generate and apply load or stress.

4 How to optimize performance?

To optimize the performance of a smart contract, you need to use techniques and strategies that reduce gas usage, improve execution time, and enhance code quality. Refactoring the code can make it simpler, cleaner, and more efficient; tools like Prettier or Solium can help with formatting and linting. Reusing existing code or libraries is a great way to avoid duplication and redundancy; you can use OpenZeppelin or DappHub for access and import. Removing unnecessary or unused code or variables is also important for saving space and resources; Surya or Slither can help analyze and prune the code. Replacing expensive or complex operations or data structures with cheaper or simpler ones can save gas and time; MythX or Oyente can detect and replace costly or risky operations or data structures.

5 How to verify performance?

Verifying the performance of a smart contract requires sources and evidence to confirm its validity and reliability. Formal verification is one method, which uses mathematical methods and tools to prove the correctness and security of the smart contract code. Tools like CertiK or VeriSol can be used for formal verification. Peer review is another option, where external experts or auditors review and evaluate the smart contract code and performance. Platforms like Quantstamp or ConsenSys Diligence can be used to request and receive peer review. Finally, bug bounty programs offer incentives and rewards to testers or hackers to find and report bugs or vulnerabilities in the smart contract. Platforms like Gitcoin or HackerOne are available for launching and managing bug bounty programs.

6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?