Ethereum had popularized the idea of smart contracts within the crypto-currency world but it is far from perfect. Just this July, a hacker had stolen over $32 million worth or Ethereum by exploiting a bug within a smart contract., which had followed another bug abuse instance in which $55 million was stolen. Since the popularity of smart contracts has been growing immensely, something must obviously be done safeguard contracts!

Luckily, the QuantStamp project is dedicated to decentralizing the audit of smart contracts and making it consensus-based to prevent tampering by hackers or of corrupt insiders.

How it Works

QuantStamp itself is a crypto-currency (QSP) and this currency fuels their internal auditing network so that users have an incentive to play a role in auditing smart contracts – making it so that the entire system runs seamlessly and nearly-automated.

The roles that make up the protocol:

Software Contributors – These developers will receive tokens for contributing open source code to the project.

Validators – Much like “miners” of other cryptocurrency project, validators will contribute their computer’s resources to help keep the network afloat.

Bug Hunters – Those that discover exploits in smart contracts and bring it to the attention of the QuantStamp network will receive a bounty for their efforts.

Contract Creators – Those that wish to use the network to verify their contracts will pay a fee in QSP to utilize the system.

Contract Users – Users will be at the receiving end of the audit to verify that the contract is flawless.

Voters – To reduce the power of a centralized authority governing QuantStamp, voters will have the power to make key changes in the system.

Investment Potential of QuantStamp

Considering the unpredictable nature of the crypto market, I cannot guarantee that QuantStamp is a get-rich-quick scheme. Considering the popularity of smart contracts, the impressive development team, and current security concerns of Ethereum, The currency has huge potential to be mainstream by the time the currency is fully launched.

During the presale, 6,000 to 10,000 QSP may be purchased with just one Ethereum and it will be lowered to 5,000 QSP during the ICO. This is just pennies per QSP for early investors!

Since unsold QSP will be burned, the limited quantities held by early investors for an innovative coin that fills such a large niche will likely have astronomical gains on the market.

Now let's speculate that QuantStamp will become the go-to auditing system by the millions of new smart contract users in the near future and it grows to a mere $1 per QSP (a totally made up low-ball figure for the sake of speculation). This sort of ROI for early investors would be comparable to the jackpot of early Ethereum investors had hit between 2016 and 2017.

Get into the Presale before everyone else!

Unlike other currency launches that just wait for anybody who has money to get into their presales, QuantStamp only is inviting those that actually care about the project, hence their Proof-of-Care system.

The Proof-of-Care system invites content creators to make blog posts, reviews, Youtube videos, or other efforts to invite users to the platform and will reward them with a spot on the whitelist. High-quality contributors that show how they care will receive a super low price in comparison to the ICO launch.

For more information about the Proof-of-Care system, read the official announcement by CEO Richard Ma.

Where to find them

Check out their official website.
Get the facts from the official whitepaper
Talk about QuantStamp and other nerdy things in the Telegram chat.