Quantstamp protocol has the potential to become a default security audit solution for every smart contract based on Ethereum.
Hardcap: $30M (including presale and crowdsale)
Presale Cap: $11M
Presale Date: 9-Oct-17 until 9-Nov-17 (on a rolling basis)
Presale Price: 1 ETH = 6,000-10,000 QSP
(depending on the quality of your Proof of Care)
Presale Bonus: 20-100% bonus for the presale participants.
ICO Cap: $19M
ICO Date: 17-Nov-17 until 16-Dec-17 (or until the $30M hard cap is reached)
ICO Price: 1 ETH = 5,000 QSP
Whitelist: Currently running for presale and mainsale.
– Presale list uses so called Proof-of-Caring system – to get on the list you have to prove that you care about Quantstamp by writing a blog post, reviewing their project, making a quick youtube video or podcast, inviting people to join them on telegram, etc.
– To be considered for the crowdsale whitelist you only have to join Quantstamp Telegram and enter your email address.
• The Quantstamp protocol solves the smart contract security problem by creating a scalable and cost-effective system to audit all smart contracts on the Ethereum network. Over time, they anticipate every Ethereum smart contract to use the Quantstamp protocol to perform a security audit.
• The protocol consists of two parts:
1.) An automated and upgradeable software verification system that checks Solidity programs. The conflict-driven distributed SAT solver requires a large amount of computing power, but will be able to catch increasingly sophisticated attacks over time.
2.) An automated bounty payout system that rewards human participants for finding errors in smart contracts. The purpose of this system is to bridge the gap while moving toward the goal of full automation.
• The Quantstamp did the Smart Contract Security Audit for Request Network Token Sale. I strongly recommend you to check the summary of an audit process in order to understand better what Quantstamp is all about:
MY THOUGHTS & CONCLUSION
• I think this is a great idea. Security is a crucial component in the cryptocurrency space. I just can’t imagine Initial Coin Offering being conducted without having strong security audit of their smart contract code. So far, most of the companies are doing this from within the house. And this is far from ideal solution. Now these companies can focus on developing their core products, while easily outsourcing the security audits of their smart contracts to the Quantstamp security specialists for a much smaller fee than what it would actually cost them if they would to do it themselves. And this is of course not limited only to the smart contracts for Initial Coin Offerings, but for any Ethereum smart contract.
• As you might have noticed from my Polkadot Network analysis, I always prefer investments in platforms and protocols over the random tokens. Some of the biggest gains so far were made by early investments in platforms and protocols.
• According to the CEO, Richard Ma, presale was heavily oversubscribed, hence the idea about Proof of Care system was born. I think the huge level of interest for this ICO is a very good news, and in general I like the Proof of Care idea for the presale. The people who really believe in the project can show that in order to participate in the presale.
• I don’t like particularly that there is not too much hype about this project as of yet. Ideally I would like to see a lot more Twitter and Reddit followers and actively engaged community. However, they are quite in the presale phase, and considering Proof of Care I believe they will manage to increase the followers, social activity and hype around the project considerably by the time ICO starts.
• Quantstamp has a really solid team of 7 members and 8 advisors. The CEO was formerly a quant derivatives trader and has huge experience across various development platforms. CTO worked for Department of National Defence as system analyst, and was software developer for Magnet Forensics where he worked on improving the performance of a digital forensics and analytics tools.
• For flipping: NEUTRAL.
Depending on whether the hype will increase closer to the ICO, it could be a good flipping opportunity as well.
• For long-term holding: GOOD.