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Though the staff is focusing on Ethereum now, they’re building the Quantstamp protocol in a way that’s platform agnostic. This signifies that it will probably finally be used on other 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 methods submitted by Contributors. These methods embody safety checks similar to concolic tests, static evaluation, and symbolic execution as well as automated reasoning tools like SAT and SMT. As a reward for submitting verification software, contributors (who are primarily safety experts), obtain Quantstamp Protocol (QSP) tokens.
To make sure no bad actors are submitting malicious validation software, Contributors must 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 additionally receive QSP fee for providing computing energy to the network. To ensure that Validators don’t act maliciously, they need to stake their QSP tokens to earn their reward.
As a developer, you need to deploy a smart contract on Ethereum. Considering you don’t need to go down in history as the guy who misplaced hundreds of thousands of people’s money, you will have your contract audited. To take action, you send your smart contract, with the supply code within the data subject, directly out of your wallet to Quantstamp, including QSP tokens with the transaction. On the following Ethereum block, Validators carry out safety checks. After they reach consensus, they append the proof-of-audit and report data to the next block.
You possibly can select whether or not your safety report is made public or private.
UPDATE: It seems as if, now, the Quanstamp team additionally presents manual audits in change for ETH or USD.
Whenever you submit your smart contract for auditing, you also embody a set of QSP tokens for bounty rewards and a deadline for when Bug Finders can submit issues. The bounty deadline reward dimension is as much as you. If the deadline passes with no discovered bugs, the QSP bounty reward is returned to you.
Quantstamp doesn’t assure flawless code after this process, but they do assure customers that the automated testing and crowdsourced bug-hunting greatly reduce issues.
QSP token holders management protocol, validation smart contracts, and Validation Node upgrades. The governance model makes use of a time-locked multisig in which any token holder can propose a change. The more votes a change has, the faster it occurs. Changes approved by all members happen within an hour. This time doubles with every 5% of members that don’t vote and quadruples for every 5% that vote in opposition to it.
Earlier in 2018, Quantstamp implemented an in-house Proof-of-Caring system to reward group members and dependable QSP token holders. Once 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 exchange) for a sure amount of time, contributing to social media outreach, and/or some other neighborhood activities.
The Quantstamp crew has since ended this program and no longer rewards group members with ICO airdrops. It’s been some extent of contention in the community.
Quantstamp Team & Progress
The Quantstamp team consists of 30+ members and advisors with over 500 Google Scholar citations. Steven Stuart (CTO) and Richard Ma (CEO) founded the staff in June 2017. Stuart worked 5 years in Canada’s cryptologic agency within the Division of National Protection and previously founded Many Trees, a start-up that makes use of GPUs for Big Data analytics and machine learning. Ma built 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 millions of dollars in funding capital.