QUANSTAMP- The Protocol for Security Audits- What it is and Why

It's been a crazy time as bitcoin fork has create so many uncertainty in the crypto space. Now that it is clear, at least temporary (another fork is coming in November), this is a good time to check on new ICOs that are coming. The project that i am about to introduce is "QUANSTAMP".

I will not put in a long essay on this, in short, as explained in the whitepaper, Quanstamp is to ensures that all audited smart contracts conform to a security standard. It work as an security auditor that ensure that all the ICOs released free from any known vulnerabilities and provide details report.

In rise of the cryptocurrency and ICOs, QUANSTAMP aim to provide a security standard for the ICOs. This will help filter out bad project/scam which has plague the crypto space.

Now that we understand the purpose, why invest in QUANSTAMP. There is no point investing in the ICOs/coins if it does not bring you any benefits even if the company/concept is great.

When company want to examine its code before launching, they can put out a QST token Bounty to the QN network. Depending on the security needs, the develop can decide how much bounty to send. Upon consensus, the verifiers/miners will perform a set of security checks.

Quanstamp does not guarantee 100% safety, but it will helps raise a bar for the upcoming projects and help create a better crypto environment.

It is worth noting that Quanstamp has audited Request Network.