Quantstamp Evaluation

Quantstamp (QSP) is a project that is developing a blockchain based mostly smart contract auditing protocol. They launched with nice fanfare in 2017 to a blockbuster ICO.

Since then, the project has been building out their protocol and have already completed a number of high profile blockchain primarily based audits. Nonetheless, the project was broiled in a little bit of controversy final yr when it came to use of their QSP token for audits.

In this Quantstamp review we’ll take an in-depth look into the project including the staff members, development, roadmap and community support. We will even take a look at the QSP tokens and their potential for mass adoption.

What’s Quantstamp?

Quantstamp is a platform designed to improve smart contract security by auditing Ethereum smart contracts to detect any potential vulnerabilities.

Earlier than Quantstamp the only way for smart contract builders to detect many vulnerabilities was to offer bounties for others to dig by their code to seek out any problems. Quantstamp feels they can improve on this through the usage of scalable proofs of audit.

Quantstamp has already accomplished quite a few audits, and the QuantStamp betanet for the decentralized, blockchain based scanning device is already live to scan smart contracts in real-time. Additionally they completed the next audits in 2018:

OmiseGo’s Minimum Viable Plasma (MVP) implementation

Binance’s one hundred twenty+ ERC20 tokens for the Batch Overflow Vulnerability

Quarkchain’s ERC20 and tokensale contracts

The QuantStamp Workforce

The QuantStamp group grew dramatically in 2018, adding seventeen members and more than doubling in measurement to the present 29 member team. There are several open positions trying to be filled as well, from research engineers to quality assurance positions.

As with any workforce the highest names to have a look at are the leadership and in the case of QuantStamp this is co-founders Richard Ma and Steven Stewart.

Ma started his career as an engineer at Tower Research where he designed trading algorithms. He bought his interest in blockchain security as an early investor in the DAO who lived by way of 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 pc systems analyst for the Canadian Division of National Defense even before he finished with his Bachelor’s degree.

A current hire who now units the trail for Quantstamp is Olga Mack, who holds the title of Vice President of Strategy. Mack received both a B.A. and J.D. from UC Berkeley and has held positions at Yahoo, Zoosk and Visa.

In addition to the leadership staff the senior analysis crew is comprised of several PhD’s in laptop science and electrical computer engineering. With specialists in pc modeling, blockchain and finance, and several serial entrepreneurs, the QuantStamp team is well positioned to deliver on their promises and proceed rising dramatically.

QuantStamp Efficiency

QuantStamp makes use of its scalable and clear proof-of-audit protocol to create a network that connects builders 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 power the network the QuantStamp team created and launched QSP tokens. These are used to buy audits and as a means to compensate those that run the verifier nodes that scan the smart contract code for vulnerabilities.

Presently there are two components to the QuantStamp protocol.

The automated software platform that checks Solidity code to confirm it is constructed properly, with none vulnerabilities. This platform does require a considerable amount of computing energy, which is why verifier nodes are required. The platform is planned to grow to be able to discover increasingly sophisticated assaults over time.

The automated bounty system that pays humans who manually scan and verify the Solidity code. These users are compensated when they discover bugs and vulnerabilities. This handbook system is a bridge to fill the hole until full automation is possible.

Those who wish to see a more detailed rationalization of how the proof-of-audit system works might want to have a look on the QuantStamp whitepaper.

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