A newly proposed standard, Ethereum Request for Comments (ERC)-7512, aims to enhance the security of Ethereum decentralized applications by allowing anyone to utilize and verify smart contract audit information on-chain as opposed to doing it off-chain.

This proposal has been introduced by a group of Ethereum developers from projects including Safe, Ackee Blockchain, OtterSec, ChainSecurity, OpenZeppelin, and Hats Finance.

The objective of ERC-7512 is to ensure that audit details, such as who conducted the audits and their findings, can be parsed by contracts to verify their authenticity. As of now, audits are manually presented by teams with no representation of their authenticity on-chain.

The need for this standard arises from the losses associated with issues found in smart …