Quantstamp (QSP)

Quantstamp (QSP) is a cryptocurrency project that aims to make blockchain and distributed ledger technology safer and more reliable through smart contract auditing. The underlying goal of the project is to bridge the gap between developers and users by providing tools to help identify, quantify and mitigate risks associated with blockchain and DeFi protocols. Quantstamp, founded in 2017 by Richard Ma and Steve Ellis, is the first cryptocurrency project dedicated to smart contract security. Ma and Ellis developed the Quantstamp protocol, an automated, trustless service that securely verifies whether smart contracts on blockchains are bug-free and secure. Quantstamp provides users with a consensus-driven verification system that can identify coding, security, and financial vulnerabilities in contracts before they go live on the blockchain, helping to address contract scalability, liquidity and governance issues. Quantstamp is unique in its use of a multi-stage verification process that combines automated and human verification. This process starts with a private pre-verification to scan the code using a combination of manual and automated audits. Once complete, the code is submitted to the Quantstamp Network where dozens of nodes collaborate to test the security of the contract. Finally, Quantstamp's platform provides a public report which can be used to identify and address potential problems. The Quantstamp cryptocurrency is used to power the Quantstamp protocol and pay for verification services. Additionally, QSP is also used as a crypto-economic incentive to encourage node operators to maintain the network. Quantstamp (QSP) is currently listed on major exchanges such as Binance, KuCoin and Bittrex and can be purchased with fiat or cryptocurrencies. In conclusion, Quantstamp (QSP) provides a unique platform for smart contract audits and security. The Quantstamp protocol and cryptocurrency provides developers with a secure and reliable means to identify and mitigate risks associated with blockchain and DeFi protocols. Furthermore, Quantstamp's multi-stage verification process is designed to ensure contracts are bug-free and secure before they launch on the blockchain. Overall, the use of QSP will help the cryptocurrency industry make strides towards sounder blockchain technology.