What is Quantstamp (QSP)?
Future of QSP Cryptocurrency and know how to buy QSP

#1 - Quantstamp: The Basics

Quantstamp is one of the younger class of cryptocurrencies & the first protocol that has the smart contract security infrastructure for Ethereum. The coin is gaining traction because it aims to perform security audits on all the smart contracts on the Ethereum network.

What is Quantstamp

  1. Quantstamp is an open protocol that secures Ethereum smart contracts by generating scalable and cost-effective system to audit smart contracts on its blockchain.
  2. The Quantstamp cryptocurrency is denoted by the symbol QSP. Its total supply is 1 billion QSP.
  3. Quantstamp’s ICO began on 7 November 2017 & ended on 15 November 2017.
  4. Quantstamp checks solidity programs using an automated and upgradeable software verification system & catches sophisticated attacks. It also rewards its participants through an automated bounty payout system for identifying the errors in smart contracts.

Quantstamp Development

  1. 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 experience in large scale data analysis, optimisation & automation.
  2. Its entire development team boasts of expert software testers who collectively hold over 500 Google Scholar citations.


#2 - Quantstamp Technology

  1. The use of proof-of-audit validates protocol for security audits & also rewards participants with QSP tokens when they compute resources that are used for checking smart contracts run by validator nodes.
  2. The transaction will be allowed only if the smart contract is verified by the validator & if verification is unsuccessful then the tokens are either automatically returned to the sender or freezed until the concerned entity fixes the security violations.
  3. The network & transaction protocols are handled by Ethereum handles whereas the nodes for the validation protocol for security audits is held by Quantstamp.
  4. Protocol upgrades are made using time-locked multisig wherein the speed of execution of the upgrades will be dependent on number of approvals the transaction has. If all members approve of an upgrade then it can be executed within an hour.
  5. The Security Audit Engine which interacts with the security library for enabling access to security checks (to be performed) and properties (to be verified) is based on discrete mathematics, logic and computer science. Its tradecraft uses the following framework:
    • SAT solvers (satisfiability) are used to support the software verification tools which are modeled as Boolean formulas. When they detect bugs that can be solved / fixed, SAT solver reports “satisfiable” & if solution does not exist then it reports “unsatisfiable.”
    • Model checking detects inconsistencies in the behavior of codes in all possible system states in a brute-force manner.
    • Symbolic execution generates new test cases for finding bugs.
    • SMT solvers find the satisfiability of SAT solvers, perform software verification, programming languages, test case generation, etc.
    • Static analysis is used for the detecting potential null pointer bugs and to check whether the device is complying with the Application Programming Interface usage requirements or not.


  1. Quantstamp automatically performs security checks on the smart contract code in a trustless manner. This protects against manipulation of results as the end-users directly submit programs for verification.
  2. 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 parties from slipping into the smart contracts.
  3. After certification of a contract, the verifier generates a proof-of-audit hash for which they are rewarded with a token fee.
  4. The verifiers/ miners run validation node software that is used to monitor the updates on the Quantstamp validation smart contract. This service is charged & hence ensures that verifiers do not manipulate the contract.
  5. The time taken by upgrades becomes twice for every 5% of members who don't cast their vote through multisig & becomes 4 times if they vote against ( by voting against the upgrade, the member effectively cancels out one of the other approved signatures). This ensures strict governance.


#3 - How to Buy and Store Quantstamp?

How to buy Quantstamp / How to buy QSP

Quantstamp coins are used to but the smart contract verification services of Quantstamp. It is available to trade on exchanges like EtherDelta, Binance, KuCoin, etc. But it can get difficult to get the best price for your transactions. This is where CoinSwitch steps in.

  1. While cryptocurrency exchanges provide you with a platform to buy or sell the Quantstamp cryptocurrency, CoinSwitch, the largest cryptocurrency conversion platform, comes in to help you make the right decision by providing the prices for QSP. This way you can choose the best deal for you!
  2. You can also buy, sell and trade over 300 cryptocurrencies for the QSP crypto. It offers interchangeability and unified experience for all cryptocurrencies with a wide offering from all major exchanges.

Quantstamp Storage

Quantstamp is an ERC-20 token, which means it is supported by any Ethereum wallet natively. It can be stored in the following wallets:

- MyEtherWallet

- Coinomi

- MetaMask, etc.


#4 - What is the future of Quantstamp?

Also Read: Complete Analysis of Quantstamp | Live Quantstamp (QSP) Price Charts And Predictions

  1. As of July 2018, its market capitalisation stands at $39 million USD .

  2. With millions of dollars at risk due to poorly written code or very simple human error, the demand for Quantstamp may continue to grow even in long term. Quantstamp prices rose steadily in January to achieve an all time high of $0.7 in January 2018 as compared to just $0.1 in December 2017.

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#5 - How is Quantstamp different from other cryptocurrencies?

  1. Quantstamp’s value proposition is that it eliminates manipulation in audit results with its trustless protocol. The protocol can also be upgraded because of the decentralized governance.
  2. The network cannot be manipulated because all participants are incentivised with QSP tokens to prevent the attack.
  3. It gives only a small amount of verification problem to every participant. So, by distributing the computation, it mitigates adversarial attack.

#6 - Should you invest in Quantstamp / invest in QSP?

  1. Many developers manually verify smart contracts via open source code reviews and unit tests which can cause errors to slip in. So, developers invest in QSP to protect their reputation with Quantstamp protocol’s easy interface by proving on the blockchain that they have audited the contract.
  2. The growing user base of Ethereum can increase the demand for correct & bug-free smart contracts. Quantstamp can provide automatic & scalable security auditing by embedding it’s codes into the Ethereum network with its client nodes. So it is especially beneficial for developers who may not have technical expertise to check or verify smart contracts. This can stimulate Quantstamp’s transaction volume & can push for a bull run in the long term.
  3. More developers will be motivated to use Quantstamp after knowing that a smart contract was verified transparently by consensus.
  4. The bounty hunters will also push harder to find new critical flaws in the smart contract to ensure that their code is not open to attack. This can push for mass adoption for Quantstamp.
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