What is Quantstamp?

Quantstamp is the first decentralized smart contract security-audit platform, designed to systematically find vulnerabilities in smart contracts.

Why Quantstamp?

If we consider the DAO hасk ($50 mіllіоn), аnd thе rесеnt thеft оf еthеr duе to a bug іn Parity’s multі-ѕіg wаllеt ($30 million), currently over $80 million dollars worth of Ether were stolen because of faulty smart contracts. Smart contract code has not improved despite these hacks. These vulnerabilities threaten the long-term adoption of blockchain technology and cryptocurrencies. Quantstamp solves this problem by automating audits of smart contracts in a decentralized and trustless fashion

How does Quantstamp plan on solving this problem?

The Auditing Network

The Auditing Network by Quantstamp

Quantstamp is a specialized network that connects developers, investors and users around a transparent and scalable proof-of-audit.

Quantstamp audits contracts on an off-chain network that works a lot like Proof-of-Work style mining. In order to audit a contract, nodes on the Quantstamp Network “mine” or audit contracts by making the audit part of the mathematical steps necessary to solve a block. Also, just like in PoW style mining, it is hard to solve a block but it is very easy for other nodes to verify that the block was solved correctly. Once a contract is audited, the author will receive a report describing any security vulnerabilities.

The network acts as a critical piece of transparency by enabling automated checks on smart contract vulnerabilities and automatically rewarding verifiers who identify bugs. Quantstamp tokens allow the platform to operate in a scalable and fully decentralized fashion, delivering computation fees to verifier nodes, and bounties for locating vulnerabilities.

Token presale

Here are the token sale terms: Hardcap: $30M, including both presale and crowdsale Presale: $11M (10/9/17–11/9/17)

Decisions about individual allocations will be made on a rolling basis. How much allocation you get and what tier you are in will be based on the quality of your Proof of Care. You need to submit your Proof of Care on this form. Caring level 1 ($3M): 1 ETH = 10,000 QSP Caring level 2 ($4M): 1 ETH = 7,000 QSP Caring level 3 ($4M): 1 ETH = 6,000 QSP Crowdsale: $19M (11/15/17–11/22/17) The crowdsale will have individual caps so that everyone on the whitelist can participate. Due to individual caps, no proof of caring is needed for the crowdsale. Crowdsale ($19M): 1 ETH = 5,000 QSP

Further details : https://medium.com/quantstamp/what-an-amazing-week-61fa14a3bc30

More information on Quantstamp :

Official Website : https://quantstamp.com/ Twitter : https://twitter.com/Quantstamp Telegram : https://t.me/joinchat/FxIqAguKiGRujsxHpb_j0A

Checkout this great video from one of Quantstamp’s community members explaining project!

Author

Twitter : https://twitter.com/CryptoAddict_