Top 5 Security Practices for Smart Contracts

With great power comes great responsibility. Smart contracts handle significant value, making their security paramount. Ignoring security can lead to catastrophic losses.

1. Use Trusted Libraries

Don't reinvent the wheel. Use well-audited libraries like OpenZeppelin for common patterns like ERC20 or ERC721. This reduces the risk of introducing vulnerabilities.

2. Implement Access Control

Ensure that only authorized addresses can execute critical functions. The Ownable pattern is a simple yet effective way to manage administrative privileges.

3. Handle External Calls with Care

Interactions with external contracts can be risky. Always use the Checks-Effects-Interactions pattern to avoid reentrancy attacks.