What is Quantstamp ?
QuantStamp is a smart contract security auditing protocol. It scans smart contracts for any faults. They aim to secure the decentralised internet. The company claims that it has safeguarded over $100 billion in digital assets against hacking.
Although the company is now concentrating on Ethereum, they are developing the QuantStamp protocol platform-agnostic. This means that users could use it on other smart contract platforms such as Lisk and NEO in the future.
Steven Stewart and Richard Ma founded QuantStamp. Both are software engineers with significant expertise in developing security software. The company’s leadership team consists of around a dozen specialists in their various disciplines. All of them have earned PhDs and have rich experience in conducting security assessments for informatic ecosystems.
Primary features of Quantstamp
- QuantStamp links developers and investors with its scalable and transparent proof-of-audit protocol.
- This network enables automated checks for vulnerabilities in smart contracts.
- QuantStamp has a two-pronged approach to security auditing: automated software verification and automated bounty payouts.
- It automatically compensates people who identify vulnerabilities or other defects in the smart contract code.
- The automated smart contract audit system includes an attractive user interface that allows users to upload their solidity code and have it inspected in real-time.
Is Quantstamp a promising cryptocurrency?
Security and system audits are already in high demand in the IT industry. Moreover, as smart contracts become prevalent, demand for QSP might increase.
We can expect Quanstamp to remain around for the foreseeable future as the company’s target market is likely to expand. So, QuantStamp coin’s future looks promising.
How to use Quantstamp coins?
Here are some of the uses of QuantStamp coins:
- Security: Many giant companies are using QuantStamp to secure their blockchain implementations.
- Development: As it is open-source, developers can design their own platforms.
- Trading: Users can trade QuantStamp coins through various cryptocurrency exchanges.
- Exchange: Investors can exchange it for other cryptocurrencies as well.
Pros & Cons of Quantstamp coin
- QSP automatically audits projects and contributes to the improvement of the cryptocurrency industry. It stamps the good ones and protects the user against bugs.
- QuantStamp tokens adhere to the ERC-20 standard, which means that as long as Ethereum is utilised, QSP tokens will be extremely easy to use.
- Companies such as Y Combinator (which has invested in AirBnB, Coinbase, Twitch, and others) and Plug and Play (which has invested in PayPal, Dropbox, and SoundHound, among others) have invested in QuantStamp. Partnerships with Cardano, OmiseGO, Binance and many others lend it credibility, and ensure future partnership opportunities.
- Even after so many years of launch, its rank in terms of total market capitalisation is 608 in mid 2021.
- After QuantStamp, many Giant Competitors such as Tokeny Solutions, NuID, OST.com, and MakerDAO have entered decentralised security auditing blockchain platforms.
Trade Quantstamp coin on CoinSwitch kuber
- CoinSwitch Kuber is a simple and easy to use platform
- Buy, sell and manage over 100 cryptocurrencies, including QuantStamp
- Automatically matches order so that you get the best rates
- There are no INR trading, deposit, or withdrawal fees
Quantstamp ICO summary
The token sale ended on 18th November 2017, and it raised $31.32 million. So far, 65% out of the 1 billion tokens are in circulation.
FAQ's on Quantstamp
- What is a QuantStamp coin?
QuantStamp coin is the native token of QuantStamp that carries out security audits.
- Does QuantStamp list on exchanges?
Yes. QuantStamp is listed on CoinSwitch Kuber.
- Is QuantStamp Coin Safe?
Many industry experts believe that the QuantStamp coin is safe and it can offer decent returns to investors.
Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.