Quantstamp: The Basics
Quantstamp is one of the youthful class of cryptocurrencies & the first protocol that has the smart contract security infrastructure for Ethereum. The coin is gaining traction because it goals to perform security audits on all of the smart contracts on the Ethereum network.
Quantstamp is an open protocol that secures Ethereum smart contracts by generating scalable and price-effective system to audit smart contracts on its blockchain.
The Quantstamp cryptocurrency is denoted by the symbol QSP. Its total supply is 1 billion QSP.
Quantstamp’s ICO began on 7 November 2017 & ended on 15 November 2017.
Quantstamp checks solidity programs utilizing an automatic and upgradeable software verification system & catches sophisticated attacks. It also rewards its members by means of an automatic bounty payout system for figuring out the errors in smart contracts.
Quantstamp is co founded by Steven Stewart & Richard Ma. Other founding members are
Dr. Vajih Montaghami , Ed Zulkoski & Vijay Ganesh. All these members hold rich expertise in massive scale data analysis, optimisation & automation.
Its total development staff boasts of professional software testers who collectively hold over 500 Google Scholar citations.
2 — Quantstamp Technology
The use of proof-of-audit validates protocol for safety audits & also rewards members with QSP tokens after they compute resources that are used for checking smart contracts run by validator nodes.
The transaction can be allowed only if the smart contract is verified by the validator & if verification is unsuccessful then the tokens are both automatically returned to the sender or freezed until the concerned entity fixes the security violations.
The network & transaction protocols are handled by Ethereum handles whereas the nodes for the validation protocol for security audits is held by Quantstamp.
Protocol upgrades are made utilizing time-locked multisig whereby the speed of execution of the upgrades will likely be dependent on number of approvals the transaction has. If all members approve of an upgrade then it can be executed within an hour.
The Security Audit Engine which interacts with the safety library for enabling access to safety checks (to be performed) and properties (to be verified) is predicated on discrete arithmetic, logic and computer science. Its tradecraft makes use of the following framework:
SAT solvers (satisfiability) are used to help the software verification instruments which are modeled as Boolean formulas. After they detect bugs that may be solved / fixed, SAT solver reports «satisfiable» & if resolution does not exist then it reports «unsatisfiable.»
Model checking detects inconsistencies within the conduct of codes in all potential system states in a brute-pressure manner.
Symbolic execution generates new test cases for locating bugs.
SMT solvers find the satisfiability of SAT solvers, perform software verification, programming languages, test case generation, etc.
Static evaluation is used for the detecting potential null pointer bugs and to check whether or not the device is complying with the Application Programming Interface usage necessities or not.
Quantstamp automatically performs security checks on the smart contract code in a trustless manner. This protects towards manipulation of outcomes as the top-users directly submit programs for verification.
The Quantstamp protocol produces verified smart contracts with proof-of-audit hash which consists of verifier’s version of the security library. This helps in mitigating the risks from third events from slipping into the smart contracts.
After certification of a contract, the verifier generates a proof-of-audit hash for which they are rewarded with a token fee.
The verifiers/ miners run validation node software that’s used to monitor the updates on the Quantstamp validation smart contract. This service is charged & therefore ensures that verifiers do not manipulate the contract.
The time taken by upgrades becomes twice for each 5% of members who do not forged their vote by way of multisig & becomes 4 times in the event that they vote in opposition to ( by voting in opposition to the upgrade, the member successfully cancels out one of many different approved signatures). This ensures strict governance.
3 — How to Buy and Store Quantstamp?
The best way to purchase Quantstamp / The way to buy QSP
Quantstamp cash are used to however the smart contract verification providers of Quantstamp. It is available to trade on exchanges like EtherDelta, Binance, KuCoin, etc. However it might probably get tough to get the best price in your transactions. This is where CoinSwitch steps in.
While cryptocurrency exchanges provide you with a platform to purchase or sell the Quantstamp cryptocurrency, CoinSwitch, the largest cryptocurrency conversion platform, comes in to help you make the appropriate resolution by providing the costs for QSP. This way you possibly can choose the most effective deal for you!
It’s also possible to buy, sell and trade over 300 cryptocurrencies for the QSP crypto. It gives interchangeability and unified experience for all cryptocurrencies with a wide offering from all major exchanges.
Quantstamp is an ERC-20 token, which means it is supported by any Ethereum wallet natively. It can be stored within the following wallets:
— MetaMask, etc.