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    The San Francisco-based firm also checks whether new tokens are following best practices such as supporting the industry-standard library use, have limited or appropriate scope for privileged roles so that malicious users cannot exploit the platform to steal fundsand incorporates a simple, modular design so that the code is easily modifiable for timely and secure updates.

    A single developer or team may, regardless of experience, miss a crucial detail, compromising the integrity of the token.

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    In comparison, popular and well-vetted open source smart contract standards are rigorously scrutinized and tested, making them the most secure known implementations. All it takes is one bad line of code to completely take down a platform and lead to huge losses for users, like we recently saw when the Yam protocol experienced major technical problems.

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    They can then potentially pull off an exit scam by stealing all the assets locked on the platform or engaging in some other type of malicious activity. Though complex protocols may enable advanced features for tokens, the token itself need not be complicated. Modular code is easier to maintain and update because the source code really well organized.

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    An external audit from a reputable security firm, looking for both smart contract vulnerabilities and business logic flaws, can uncover critical issues and increase confidence in the correctness of the token.

    These periodic checks ensure that operations are running smoothly, and the source code is free of errors which can turn into very costly mistakes if not fixed before publishing new code for thousands of users to run. At Coinbase, we look forward to embracing new technology and listing innovative projects on jetoane de active platform and hope this guidance will be useful both to developers and the community at large.

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