19 Mar Quantstamp Assessment
Quantstamp (QSP) is a project that’s creating a blockchain 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 based mostly audits. However, the project was broiled in a little bit of controversy final 12 months when it got here to make use of of their QSP token for audits.
In this Quantstamp review we’ll take an in-depth look into the project including the workforce members, development, roadmap and neighborhood support. We can even check out the QSP tokens and their potential for mass adoption.
Quantstamp is a platform designed to improve smart contract security 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 by means of their code to seek out any problems. Quantstamp feels they can improve on this through the use of scalable proofs of audit.
Quantstamp has already accomplished quite a few audits, and the QuantStamp betanet for the decentralized, blockchain based mostly scanning software is already live to scan smart contracts in real-time. Additionally they completed the following audits in 2018:
OmiseGo’s Minimal 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 Staff
The QuantStamp staff grew dramatically in 2018, adding seventeen members and more than doubling in size to the current 29 member team. There are a number of open positions trying to be filled as well, from analysis engineers to high quality assurance positions.
As with any 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 started his career as an engineer at Tower Research where he designed trading algorithms. He received his interest in blockchain security as an early investor within the DAO who lived by way of 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 computer systems analyst for the Canadian Department of National Protection even before he finished with his Bachelor’s degree.
A recent hire who now units the trail for Quantstamp is Olga Mack, who holds the title of Vice President of Strategy. Mack obtained 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 crew is comprised of a number of PhD’s in pc science and electrical pc engineering. With specialists in computer modeling, blockchain and finance, and several serial entrepreneurs, the QuantStamp group is well positioned to deliver on their promises and continue growing dramatically.
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 that discover vulnerabilities or other bugs in the smart contract code.
To power the network the QuantStamp staff created and launched QSP tokens. These are used to buy audits and as a method to compensate those that run the verifier nodes that scan the smart contract code for vulnerabilities.
Currently there are two components to the QuantStamp protocol.
The automated software platform that checks Solidity code to verify it is constructed properly, with none vulnerabilities. This platform does require a considerable amount of computing power, which is why verifier nodes are required. The platform is planned to develop to be able to discover more and more sophisticated attacks over time.
The automated bounty system that pays people who manually scan and confirm the Solidity code. These users are compensated after they discover bugs and vulnerabilities. This handbook system is a bridge to fill the gap 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.