Quantstamp — The Protocol for Securing Smart Gains!

One to stash and HODL.

The Protocol for Securing Smart Contracts.

Here we go, here we go, here we go! One of my favorite investments has just been shilled (they put out a buy signal), a publication by PBC — Palm Beach Confidential, the notorious pumpers who actually make top decisions. Teeka Tiwari’s brainchild group (Palm Beach Research Group) have a fantastic track record for making people money so don’t sleep on their recommendations, instead utilize them as a tool in your decision making. Ok, enough of that, so why should you buy Quantstamp (QSP)? I will tell you why in simple terms. Much of the following is available from their site but it’s amazing how the consolidation of information into a single article can help with decisions. Disclaimer: I am in no way affiliated with Quantstamp, I am writing this article off my own back as I believe in the project. Do your own research before investing your hard earned cash money.

Token metrics: Circulating Supply 613m, Total Supply 976m. Price as of writing US $0.18c.

Quantstamp was born from Y-Combinator (the venture capitalist investing firm behind Coinbase, Reddit, Dropbox, Stripe, Airbnb, Twitch and many more)It is backed by real world savvy investors with deep cash reserves.

The QSP team have a 3 year vesting period on their stake of QSP tokens so they WILL make this project succeed.

Before I continue, please clap this article (you can clap up to 50x) when you finish if you’ve enjoyed the content in some way. The claps are much appreciated and let me know that I should continue to produce crypto-spheric articles… onwards!

QSP

What is Quantstamp?

Quantstamp Inc. is developing a protocol that audits smart contracts using formal verification in order to find bugs before contracts are published to the blockchain. Quantstamp developers seek to secure and verify audits using a distributed network of nodes, similar to how an Ethereum node secures and validates a transaction. The Quantstamp protocol aims to be a scalable and cost-effective solution to the smart contract crisis.

What problem does Quantstamp solve?

Quantstamp aims to solve the smart contract security crisis. Well over $250 million dollars worth of Ether were either locked or stolen from the Ethereum network due to bugs in smart contracts. Currently, smart contract creators do not have a scalable, cost-effective way to enhance the quality of their code.

Quantstamp aims to create protocol that can automate the auditing process and enhance the quality of smart contracts on the Ethereum network because it’s one major problem present before Ethereum is ready for mainstream adoption.

What types of contracts can Quantstamp audit?

Quantstamp aims to develop a protocol that can audit any smart contract from any blockchain. Quantstamp is currently focusing on Ethereum smart contracts but Quantstamp’s long term vision is to be protocol agnostic.

Why was Quantstamp started?

Richard, Quantstamp’s CEO has experienced the problem firsthand after he had his funds stolen during the DAO hack. The DAO or, Decentralized Autonomous Organization, was meant to be a vehicle that allowed the Ethereum community to democratically improve the Ethereum ecosystem by collectively funding promising projects.

The DAO was unable to achieve its vision because a hacker exploited a bug in the DAO smart contract and stole 3.6 million Ether.

How is the Quantstamp different from any other auditing company?

Quantstamp is developing a protocol while other auditing companies are performing manual audits. The difference is quite profound because Quantstamp is attempting to develop a protocol that is automated, scalable and without the need of a trusted 3rd party because we’re going to reduce the costs of auditing smart contracts to make it accessible for the masses.

How will the Quantstamp protocol complete audits without the need of a trusted third party?

Quantstamp developers seek to secure and verify audits using a distributed network of nodes, similar to how an Ethereum node secures and validates a transaction. If one node attempts to forge an audit, the intended protocol will detect this forgery.

How does Quantstamp plan to be scalable?

By automating audits, the intended protocol will be able to handle audits much faster than a centralized manual auditing company.

So how about the team? How does it stack up?

I’ve looked into the below team members and found their backgrounds to be superb. Their VP of Engineering and Engineering Advisor are ex-Silicon Valley All-Stars and exactly who you need to drive the project to completion.

Richard Ma — Co-founder & CEO

Richard Ma is a former software engineer at Tower Research where he developed software that handled millions of dollars using extreme testing methods. He was inspired to found Quantstamp after investing in the DAO and experiencing the aftermath firsthand. Richard aims to secure the future of blockchain technology by developing the Quantstamp protocol.

Steven Stewart — Co-founder & CTO

Steven is the Co-founder and former Software Engineer at Many Trees Inc. He was also a Computer Systems Analyst at the Department of National Defense (Canada) and a Software Developer at Magnetic Forensics.

Evan Henshaw-Plath — VP of Engineering

Evan has led successful product teams for over 20 years. In 2004, he became the first employee and lead engineer of Odeo, the company that made Twitter. Evan also led engineering teams at Palm, Yahoo!, and Digital Garage and taught collaborative product design as a research affiliate at MITs co-design studio.

Evan Cheng — Engineering Advisor

Director of Engineering at Facebook, previously at Apple. Programming language system expert. Winner of ACM Software System Award for designing and implementing LLVM.

What now?

DYOR (Do You Own Research) of course. Start with their fantastic Telegram group complete with it’s 24–25,000 members. Once you dip your feet in the Quantstamp waters you will be forever sullied with the stench of future wealth. Link to the Telegram click here. Website click here.

Outro…

Let me back up a bit and tell you a short story, a story about yours truly. I am a Senior Data Scientist by profession, I see patterns in numbers and have made previous employers (ASX top 50 listed) and now my new employer (me) copious amounts of money through this medium (copious is open to interpretation but copious is oodles). I have been dwelling in the cryptosphere since 2013, I have seen a lot including the demise of Mt. Gox and the subsequent scramble to secure my BTC. Now, I’m going to tell you that you don’t need to be a genius to make money in this space, it’s the Wild West, it’s the speculatory heaven of fiat heretics and whale-like beings who induce waves of undulating panic. If you can follow trends, ignore the FUD and carry out quality research, you will succeed in this space, with patience.

Generate wealth with me. Peace.