What is Quantstamp?
Quantstamp is a security-auditing protocol for smart contracts. As a dapps platform, Ethereum has proven its security time and again. However, dapps and smart contracts on top of Ethereum may still have bugs in which malicious players can cause havoc on the network. The two most notable examples of these being the $55 million DAO hack and the $30 million Parity wallet bug. These issues not only affect the people who’ve had their funds stolen, but they also diminish the credibility of the entire ecosystem. Buy Quantstamp (QSP) India – BuyBitcoin
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Writing smart contracts is already a tough job. Like any other computer programming, writing them without any bugs is near impossible. To add fuel to the fire, the rate at which smart contracts are being written (estimated 10 million by the end of the year) is outpacing the resources needed to audit them. Even with robust security auditing, a small bug could slip through the cracks causing catastrophe down the road.
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How does Quantstamp work?
Although the team is focusing on Ethereum now, they’re building the Quantstamp protocol in a way that’s platform agnostic. This means that it can eventually be used on other smart contract platforms like Lisk and NEO. The Quantstamp protocol has a two-pronged approach to security auditing:
- Automated software verification system
- Automated bounty payout system
Quantstamp team & progress
The Quantstamp team consists of 22 members and advisors with over 500 Google Scholar citations. Steven Stuart (CTO) and Richard Ma (CEO) founded the team in June of 2017. Stuart worked 5 years in Canada’s cryptologic agency in the Department of National Defense and previously founded Many Trees, a start-up that uses GPUs for Big Data analytics and machine learning. Ma built production-grade integration and validation testing software at the Bitcoin HFT Fund. During his time there, his trading systems had no notable issues and handled millions of dollars in investment capital.
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How to buy Quantstamp (QSP) India directly in INR?
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