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Though the staff is specializing in Ethereum now, they’re building the Quantstamp protocol in a way that’s platform agnostic. This means that it could possibly finally be used on different smart contract platforms like Lisk and NEO. The Quantstamp protocol has a -pronged approach to security auditing:
Automated software verification system
Automated bounty payout system
Quantstamp’s Validation Node applies audit methods from formal strategies submitted by Contributors. These strategies embrace security checks such as concolic tests, static analysis, and symbolic execution as well as automated reasoning tools like SAT and SMT. As a reward for submitting verification software, contributors (who’re primarily safety specialists), obtain Quantstamp Protocol (QSP) tokens.
To ensure no bad actors are submitting malicious validation software, Contributors have to be voted in in keeping with the governance mechanism (more on this later).
Running the Validation Node takes a significant quantity of computing power. Because of this, Validators also receive QSP fee for providing computing energy to the network. To make sure that Validators don’t act maliciously, they have to stake their QSP tokens to earn their reward.
As a developer, you want to deploy a smart contract on Ethereum. Considering you don’t wish to go down in history as the guy who lost tens of millions of people’s cash, you may have your contract audited. To do so, you ship your smart contract, with the supply code in the data subject, directly out of your wallet to Quantstamp, together with QSP tokens with the transaction. On the subsequent Ethereum block, Validators perform safety checks. After they reach consensus, they append the proof-of-audit and report data to the subsequent block.
You can choose whether your safety report is made public or private.
UPDATE: It seems as if, now, the Quanstamp team additionally affords handbook audits in change for ETH or USD.
Whenever you submit your smart contract for auditing, you also include a set of QSP tokens for bounty rewards and a deadline for when Bug Finders can submit issues. The bounty deadline reward size is as much as you. If the deadline passes with no found bugs, the QSP bounty reward is returned to you.
Quantstamp doesn’t assure flawless code after this process, however they do assure customers that the automated testing and crowdsourced bug-hunting vastly reduce issues.
QSP token holders control protocol, validation smart contracts, and Validation Node upgrades. The governance mannequin uses a time-locked multisig in which any token holder can propose a change. The more votes a change has, the quicker it occurs. Changes approved by all members happen within an hour. This time doubles with each 5% of members that don’t vote and quadruples for each 5% that vote against it.
Earlier in 2018, Quantstamp carried out an in-house Proof-of-Caring system to reward group members and loyal QSP token holders. When you submitted your proof, you’d receive an airdrop from an ICO that Quantstamp has audited. This proof consisted of holding your tokens in a wallet (not an alternate) for a sure period of time, contributing to social media outreach, and/or another group activities.
The Quantstamp crew has since ended this program and now not rewards group members with ICO airdrops. It’s been some extent of competition within the community.
Quantstamp Workforce & Progress
The Quantstamp staff consists of 30+ members and advisors with over 500 Google Scholar citations. Steven Stuart (CTO) and Richard Ma (CEO) based the workforce in June 2017. Stuart worked 5 years in Canada’s cryptologic agency in the Division of National Defense and beforehand founded Many Bushes, a begin-up that makes use of GPUs for Big Data analytics and machine learning. Ma constructed production-grade integration and validation testing software at the Bitcoin HFT Fund. During his time there, his trading systems had no notable points and handled tens of millions of dollars in funding capital.