Some of the cryptocurrency platforms use smart contracts to enable various services on their platforms. However, the future of smart contracts is not as bright as it seems. Smart contracts and blockchain developers often resort to bounties to find vulnerabilities. Quantstamp is the first decentralized smart contract security platform. Quantstamp believes in the future of smart contracts and they are building a foundations technology that will protect users and investors and one with scalable proofs-of-audit. Being the first scalable, security-audit protocol, it is designed to find vulnerabilities in the Ethereum smart contracts.
How does Quantstamp work?
Quantstamp is a protocol that connects investors, developer, and users around a scalable and transparent proof-of-audit protocol. The protocol acts as a piece of transparent by allowing automated checks on the smart contracts vulnerabilities. The network automatically rewards this who identify bugs. The Quantstamp token allows the platform to operate in a fully decentralized fashion.
Cost effective: Quantstamp offer cost-effective services to help smart contracts to play the important role in the future of industries.
Secure: since centralized audits are prone to insider attacks, Quantstamp is a proof-of-audit protocol designed to deal with malicious actors and make sure they do not manipulate audit results.
Scalable: the protocol is designed in a way that it scales to verify all projects on the Ethereum blockchain. It’s also a fundamental part of mainstream adoption for Ethereum.
The Quantstamp token is an ERC20-complaint Ethereum token. The Quantstamp token allows the platform to operate and deliver bounties for locating vulnerabilities and computation fees to verifier nodes. Verifiers and rewarded using the Quantstamp token.
The token sale
The Quantstamp presale began recently and will end on 15 November 2017. A total supply of 1 billion QSP will be supplied during the presale period with a contribution cap of $30 million during the token sale. 65% of the supplied tokens will go towards the token sale while 20% go to the team and advisors. 10% is being allocated to core activities reserve and another 5% for the community development.
Quantstamp was founded in 2017 and is led by Vancouver-based Quantstamp Technologies Inc. The team includes co-founders Richard Ma (CEO) and Steve Stewart (CTO). Edward Zulkoski is the Senior Security Engineer with extensive experience in smart contracts development and an Ex-Microsoft developer. Vajin Montaghami is the Senior Security Engineer and also a Software Verification personnel. The company’s key vision is simple: more automation, higher security and lower cost.