Quantstamp (QSP) is a project that’s creating 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 primarily based audits. Nevertheless, the project was broiled in a little bit of controversy last yr when it got here to make use of of their QSP token for audits.
In this Quantstamp evaluate we’ll take an in-depth look into the project together with the workforce members, development, roadmap and group support. We will also check out the QSP tokens and their potential for mass adoption.
What’s Quantstamp?
Quantstamp is a platform designed to improve smart contract safety by auditing Ethereum smart contracts to detect any potential vulnerabilities.
Before Quantstamp the only way for smart contract builders to detect many vulnerabilities was to supply bounties for others to dig via their code to find any problems. Quantstamp feels they can improve on this by means of using scalable proofs of audit.
Quantstamp has already accomplished numerous audits, and the QuantStamp betanet for the decentralized, blockchain primarily based scanning instrument is already live to scan smart contracts in real-time. Additionally they accomplished the following 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 Group
The QuantStamp workforce 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 filled as well, from analysis engineers to quality assurance positions.
As with all workforce the top names to take 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 got his curiosity in blockchain safety as an early investor within the DAO who lived through 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 Department of National Protection 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 both a B.A. and J.D. from UC Berkeley and has held positions at Yahoo, Zoosk and Visa.
In addition to the leadership workforce the senior research crew is comprised of several PhD’s in pc science and electrical laptop engineering. With experts in pc modeling, blockchain and finance, and several other serial entrepreneurs, the QuantStamp workforce is well positioned to deliver on their promises and proceed growing dramatically.
QuantStamp Performance
QuantStamp makes use of its scalable and transparent 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 allows the network to automatically reward those who discover vulnerabilities or other bugs within the smart contract code.
To power the network the QuantStamp group created and introduced 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.
Currently there are two elements to the QuantStamp protocol.
The automated software platform that checks Solidity code to confirm it’s constructed properly, without any vulnerabilities. This platform does require a considerable amount of computing power, which is why verifier nodes are required. The platform is planned to grow to be able to discover more and more sophisticated assaults over time.
The automated bounty system that pays humans who manually scan and confirm the Solidity code. These users are compensated after they discover bugs and vulnerabilities. This guide system is a bridge to fill the hole until full automation is possible.
Those who wish to see a more detailed clarification of how the proof-of-audit system works may want to have a look at the QuantStamp whitepaper.