ELI5 Quantstamp (QSP)

ELI5 Quantstamp (QSP)

Quantstamp (QSP) is a non-mineable cryptocurrency.

Monetary Data

As of December 28, 2017, the Quantstamp cryptocurrency has a total maximum circulating coins of 617,314,171 QSP.

History

This cryptocurrency was created in June 2017 and in fact, in just a short period of time, the team behind this project accomplished significant development as well as advancement. In just four months, they have successfully completed their very first semi-automated audit for Request Network and in three other companies.

The Quantstamp aims to resolve the security issues regarding with the smart contracts. As stated in Quantstamp White Paper, the main goal of this project is to become the best and leading smart contracts auditor, which is not impossible to happen since the core development team behind this project are highly experienced in different aspects.

What Makes it Different?

The Quantstamp cryptocurrency is the very first smart contract security protocol to secure the majority of the small contract in a scalable manner and cost-effectively. Compared to other auditing organizations or companies who are doing manual audits, the Quantstamp, on the other hand, is developing their own protocol.

The dissimilarity is somewhat deep simply because the Quantstamp is aiming to develop an automated and scalable protocol without the help of other trusted third-parties since they want to lessen the fees for auditing the smart contracts.

Nevertheless, Quantstamp can handle audits more rapidly compared to manual and centralized auditing company.

Who is behind Quantstamp (QSP)?

The development team behind this cryptocurrency is loaded with individuals that are knowledgeable in software testing. However, it is founded by Steven Stewart (CTO and Co-Founder) and Richard Ma (CEO and Co-Founder). Nevertheless, other team members include Leonardo Passos (senior developer), Prit Sheth (lead back-end engineer), Anna Kao (UX and Graphic designer), Alex Murashkin (Senior Software Engineer), and more.

On the other hand, Quantstamp team is currently searching for security engineers that have already extensive experience and blockchain engineers.

However, the Quantstamp team needs to upgrade and update their software so that they will be able to automate their system completely. The majority of contributors are security experts and they will get a QSP token as an appreciation for contributing their knowledge for the development of the software.

Nevertheless, all donated code will be open-source which simply means that participants of the community are allowed to confirm its validity.

So if many will contribute to this project development, for sure the Quantstamp will be in good hands and it will definitely solve even the toughest problem. And it will surely make auditing smart contracts more trustable and safer for the mass.

Links

Official Website

Announcement Thread Link to BitcoinTalk

Block Explorer Link

Github source code

Quantstamp ICO Review and Token Analysis

What is and How to Buy Quantstamp (QSP) Cryptocurrency? A beginners Guide

Analysis of Quantstamp – Protocol for Securing Smart Contracts

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