QUOINE, a global cryptocurrency exchange, and fintech company announced that they signed an MOU with Quantstamp Inc. aimed to enhance the smart contract security of select projects conducting their ICO on QUOINE’s ICO listing and crypto-to-crypto trading and exchange platform, QRYPTOS.

Quantstamp is developing a security protocol that audits smart contracts using formal verification techniques to find vulnerabilities before they are published to the blockchain. Quantstamp is designing its audits to be secured and verified by a distributed network of nodes, much like an Ethereum node secures and validates an Ethereum transaction.

This model is intended to make the Quantstamp protocol a scalable and cost-effective solution to the smart contract crisis.

Currently, over 256 million USD in Ether were either lost or stolen due to faulty smart contracts.

The QRYPTOS platform manages the token sale process on behalf of a token issuer. This management attempts to streamline the token sale process for token issuers, enhance security measures and provide a safe participation process for the crypto community. After a token sale is conducted on QRYPTOS, the token is immediately tradable on its platform.

In early November 2017, QUOINE raised 350 million QASH (the equivalent of 350,000 ETH or over 280 million USD) in their oversubscribed token sale. The QASH token sale had 4,988 participants from 98 countries around the world, making it one of the most successful blockchain fintech token sales globally.