November 27, 2023
Smart contracts are pieces of code that run on blockchains, such as Ethereum or Binance Smart Chain. They can automate transactions, enforce rules, and create new possibilities for decentralized finance (DeFi).
However, smart contracts are not perfect. They can contain bugs, errors, or vulnerabilities that can lead to hacks, losses, or scams. That's why smart contract audits are important. They are reviews of the code by experts who can spot and fix any issues before they cause trouble. But smart contract audits are also expensive, time-consuming, and scarce. There are not enough auditors to meet the demand, and they charge high fees for their services. This can slow down the development and innovation of DeFi projects.
That's where artificial intelligence (AI) comes in. A new startup called Lightning Cat is using AI to audit smart contracts faster and cheaper than humans. They claim that their AI can analyze a smart contract in minutes, instead of hours or days, and charge a fraction of the price of a human auditor.
How does it work? Lightning Cat uses a combination of natural language processing (NLP) and machine learning (ML) to understand the code and the logic of the smart contract. NLP is the branch of AI that deals with analyzing and generating natural language, such as English or Chinese. ML is the branch of AI that learns from data and improves over time.
Lightning Cat's AI can read the code, compare it with a database of known vulnerabilities, and generate a report that explains the risks and suggestions for improvement. The report is written in plain language, so anyone can understand it. Lightning Cat's AI is not meant to replace human auditors, but to complement them. The AI can handle the basic and common issues, while the human auditors can focus on the more complex and rare ones. This way, the smart contract audit process can become more efficient, affordable, and accessible.
Lightning Cat is not the only company that is using AI to audit smart contracts. There are others that use technologies such as ChainGPT, Claude, and GPT-4. These projects are part of a growing trend of applying AI to blockchain and DeFi, which can bring more security, scalability, and innovation to the industry.
If you are interested in learning more about AI and smart contract audits, you can check out the below source article. I hope you enjoyed this blog post and learned something new. Stay tuned for more updates on the latest news in artificial intelligence!