Quantstamp Assessment

Quantstamp (QSP) is a project that is creating a blockchain primarily based 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. Nevertheless, the project was broiled in a bit of controversy final yr when it got here to make use of of their QSP token for audits.

In this Quantstamp assessment we are going to take an in-depth look into the project including the group members, development, roadmap and neighborhood 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 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 by way of their code to find any problems. Quantstamp feels they can improve on this via using scalable proofs of audit.

Quantstamp has already completed quite a few audits, and the QuantStamp betanet for the decentralized, blockchain based mostly scanning instrument 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 a hundred and twenty+ ERC20 tokens for the Batch Overflow Vulnerability
Quarkchain’s ERC20 and tokensale contracts
The QuantStamp Group
The QuantStamp team grew dramatically in 2018, adding seventeen members and more than doubling in size to the present 29 member team. There are several open positions trying to be filled as well, from research engineers to high quality assurance positions.

As with any group 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 the place he designed trading algorithms. He received his interest in blockchain safety as an early investor within the DAO who lived via the aftermath of the 2016 hack that created Ethereum Traditional 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 Department of National Protection even earlier than he finished with his Bachelor’s degree.

A recent 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 crew the senior analysis group is comprised of a number of PhD’s in computer science and electrical pc engineering. With consultants in laptop 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 Efficiency
QuantStamp uses its scalable and transparent proof-of-audit protocol to create a network that connects builders and investors. This network permits 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 energy 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.

Currently there are parts 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 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 when they discover bugs and vulnerabilities. This handbook system is a bridge to fill the hole till full automation is possible.
Those that need to see a more detailed clarification of how the proof-of-audit system works may want to take a look at the QuantStamp whitepaper.