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Quantstamp (QSP) is a project that is growing a blockchain based mostly smart contract auditing protocol. They launched with great fanfare in 2017 to a blockbuster ICO.
Since then, the project has been building out their protocol and have already accomplished a number of high profile blockchain based audits. However, the project was broiled in a bit of controversy last year when it got here to use of their QSP token for audits.
In this Quantstamp review we’ll take an in-depth look into the project including the group members, development, roadmap and group support. We will also check out the QSP tokens and their potential for mass adoption.
What is Quantstamp?
Quantstamp is a platform designed to improve smart contract safety by auditing Ethereum smart contracts to detect any potential vulnerabilities.
Earlier than Quantstamp the only way for smart contract developers to detect many vulnerabilities was to supply bounties for others to dig through their code to search out any problems. Quantstamp feels they’ll improve on this via using scalable proofs of audit.
Quantstamp has already accomplished numerous audits, and the QuantStamp betanet for the decentralized, blockchain based scanning software is already live to scan smart contracts in real-time. Additionally they accomplished the next audits in 2018:
OmiseGo’s Minimum Viable Plasma (MVP) implementation
Binance’s 120+ ERC20 tokens for the Batch Overflow Vulnerability
Quarkchain’s ERC20 and tokensale contracts
The QuantStamp Team
The QuantStamp team grew dramatically in 2018, adding seventeen members and more than doubling in measurement to the present 29 member team. There are a number of open positions looking to be crammed as well, from analysis engineers to high quality assurance positions.
As with all workforce the top names to have a look at are the leadership and within the case of QuantStamp this is co-founders Richard Ma and Steven Stewart.
Ma began his career as an engineer at Tower Research where he designed trading algorithms. He bought his interest in blockchain safety as an early investor within the DAO who lived by the aftermath of the 2016 hack that created Ethereum Classic and the new Ethereum chain.
Stewart has been a standout since early days, with his first job being a computer systems analyst for the Canadian Division of National Defense even before he completed with his Bachelor’s degree.
A recent hire who now sets the trail for Quantstamp is Olga Mack, who holds the title of Vice President of Strategy. Mack acquired each a B.A. and J.D. from UC Berkeley and has held positions at Yahoo, Zoosk and Visa.
In addition to the leadership crew the senior research crew is comprised of several PhD’s in computer science and electrical laptop engineering. With experts in computer modeling, blockchain and finance, and several other serial entrepreneurs, the QuantStamp staff is well positioned to deliver on their promises and continue rising dramatically.
QuantStamp uses its scalable and clear proof-of-audit protocol to create a network that connects developers and investors. This network allows for automated checks to uncover vulnerabilities in smart contracts. This automation permits the network to automatically reward those who discover vulnerabilities or other bugs within the smart contract code.
To energy the network the QuantStamp team created and launched QSP tokens. These are used to buy audits and as a method to compensate those who run the verifier nodes that scan the smart contract code for vulnerabilities.
At present there are elements to the QuantStamp protocol.
The automated software platform that checks Solidity code to confirm it is constructed properly, without any vulnerabilities. This platform does require a considerable amount of computing energy, which is why verifier nodes are required. The platform is planned to develop to be able to discover more and more sophisticated assaults over time.
The automated bounty system that pays people who manually scan and verify the Solidity code. These users are compensated when they discover bugs and vulnerabilities. This guide system is a bridge to fill the hole till full automation is possible.
Those who wish to see a more detailed explanation of how the proof-of-audit system works might want to take a look at the QuantStamp whitepaper.