AQUA is excited to collaborate with Quantstamp. All of their smart contracts will now be audited with Quantstamp’s advanced new protocol for contract verification.

Quantstamp, the smart contract auditing protocol is the first scalable security-auditing solution, specifically designed to find vulnerabilities in Ethereum smart contracts. It is a specialized network that connects developers, investors, and users around a transparent and scalable proof-of-audit solution. Its network provides the much-needed transparency, by enabling automated checks on vulnerabilities and automatically rewarding verifiers who identify bugs.

AQUA has selected Quantstamp to professionally audit their token sale contract and publish the results. They have requested this check to ensure that all the measures promised in the whitepaper are fully functional and their smart contract is secure.

Blockchain security

With the rise of blockchain, the concept of smart contracts was introduced to the public and investors; payments and investments have completely changed, and companies have had to upgrade accordingly. With such advancements, security checks must evolve too. How does an investor trust that their money is not going into the hands of scammers or that the smart contract won’t catch any bugs and cause issues? The answer is, ‘Through Smart Contract Security Auditing’.

Traditional online trading brokers are monitored by external auditors and regulators. This ensures that the company is securely and responsibly handling its client funds. The audit is handled by a third party which is a trusted auditing company which poses no conflict of interest. The same applies to blockchain audits for smart contracts.

What is a smart contract security audit?

A smart contract security audit is a technical procedure which considers crucial features of the smart contract code to analyze if the code is secure, corresponds to the documentation provided by the company, and if the code meets best practices for efficient use of gas, code readability and so on. The audit is performed through several processes including an automated analysis through private and public code analyzers and manual audit. The audit checks for common vulnerabilities which could pose a security risk if found.

Why are smart contract security audits important?

Blockchain technology is one of the safest in existence, however, measures must be taken to maintain this security. Smart contracts can catch bugs if they are not frequently scanned and checked. This is a mistake some exchanges and blockchain businesses had to learn the hard way.

Smart contracts which catch bugs are vulnerable ones due to lack of inspection and security checks to ensure they are well protected. Keeping a smart contract safe is not an easy job and it requires consistent scrutiny of the codes for vulnerabilities.

AQUA x Quantstamp

The AQUA team will run frequent internal and external security checks. This will ensure that when low severity issues are found, they are addressed and fixed before they escalate to medium or critical levels where security can be compromised.

“User safety is always our first priority, and we will keep all the users and participants secure at AQUA, the way we have done for other enterprise clients”, says the spokesperson at AQUA.

The AQX smart contract for the ‘AQX Token’ went through an automated analysis through Quantstamp for a professional audit of the token sale contract. All the issues found by the tools were manually checked and proved to be safe. Any recommendations for improvement were thoroughly addressed by the technical team. Below are the results (minimizes):

{“timestamp”: 1535925091,

“contract_uri”:”https://s3.amazonaws.com/qsp-network-published-contracts/5045cc92-0ad8-45c7-a767-4a48f79dadfc”,

“contract_hash”: “e49bc704290a4322eecb827618fc1eba4863271cf9678da31bd24dd5e18b1526”,

“requestor”: “0x7714cC433122c1aFC4486e770e6F82AB2B541dDC”,

“auditor”: “0xa0f089D377b7e038cc8D71d813aAe2Cd59Eff7d4”,

“status”: “success”,

“count_potential_vulnerabilities”: 0,

“hash”: “89d6868a94a00136d265c40eb6c9672702b2efe68928f125b0b2e1967dc96bfe”,}

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Country: United States

Website: aquaintel.io