Quantstamp (QSP) is a project that’s developing 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 completed a number of high profile blockchain based mostly audits. Nevertheless, the project was broiled in a little bit of controversy last 12 months when it came to use of their QSP token for audits.
In this Quantstamp review we will take an in-depth look into the project including the workforce members, development, roadmap and group support. We can even check out 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 supply bounties for others to dig through their code to search out any problems. Quantstamp feels they can improve on this via the use of scalable proofs of audit.
Quantstamp has already completed numerous audits, and the QuantStamp betanet for the decentralized, blockchain primarily 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 Team
The QuantStamp team grew dramatically in 2018, adding seventeen members and more than doubling in measurement to the current 29 member team. There are several open positions trying to be stuffed as well, from analysis engineers to quality assurance positions.
As with every workforce the top names to look at are the leadership and within 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 obtained his interest in blockchain security as an early investor in the DAO who lived via the aftermath of the 2016 hack that created Ethereum Basic 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 Protection even before he completed with his Bachelor’s degree.
A latest hire who now units the path for Quantstamp is Olga Mack, who holds the title of Vice President of Strategy. Mack acquired 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 research staff is comprised of several PhD’s in laptop science and electrical pc engineering. With consultants in laptop modeling, blockchain and finance, and several other serial entrepreneurs, the QuantStamp crew is well positioned to deliver on their promises and proceed rising dramatically.
QuantStamp Performance
QuantStamp makes use of its scalable and transparent 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 different bugs within the smart contract code.
To power the network the QuantStamp workforce created and introduced QSP tokens. These are used to purchase audits and as a means to compensate those who run the verifier nodes that scan the smart contract code for vulnerabilities.
At present there are components to the QuantStamp protocol.
The automated software platform that checks Solidity code to verify it’s 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 increasingly sophisticated attacks over time.
The automated bounty system that pays humans who manually scan and confirm the Solidity code. These users are compensated once they discover bugs and vulnerabilities. This handbook system is a bridge to fill the hole till full automation is possible.
Those that want to see a more detailed explanation of how the proof-of-audit system works might want to take a look at the QuantStamp whitepaper.