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General Notes

A few general points to note when interacting with blockchain applications:

  • Caution should be exercised when interacting with any smart contract or blockchain application
  • While risks are attempted to be mitigated through testing, audits and bug bounties, there is always a risk of vulnerabilities in smart contract code
  • Phishing and scams are common whether related to blockchains or not
  • Blockchain related phishing scams can involve tricking a user to reveal their private keys, seed phrases, other sensitive information or tricking a user to sign malicious transactions
  • It may be prudent to maintain two separate wallets, one wallet to store the majority of holdings and funds, and another wallet to use when interacting with new websites
  • When interacting with new websites and signing transactions in your wallet it is important to check the contract being interacted with as well as the operation being signed, most wallets will display the name of the operation to be signed