Smart Contract runs on the blockchain platform. Though smart contract ensures integrity, tamper-proof, decentralized, and automated, we need to ensure the security of smart contract too. For this, we need to involve the auditors who conduct security audits on the smart contract. Smart Contract Audit identifies bugs present in the code that can lead to security vulnerabilities like huge loss of money, theft, and loss of personal data. It is usually conducted by external auditors and eventually removes the flaws in the code and provides you an extra layer of security. Bug-free code is nice to have in other types of software, in blockchain applications, it is essential.