The reason why blockchain technology is so promising and apealing is the concept of trustlessness. So the idea here is we are not trusting people when we are transfering value, we are trusting the protocol.
One thing that makes ethereum different from bitcoin is the capability of creating smart contracts, it provides ability to create and execute smart contract code on ethereum network. So while interacting with these smart contracts we still have to trust on the contract creator and the contract, there could be bugs in the smart contract code as any software program. We have so many such examples where contract code vulnerabilities were exploited or could have been exploited, how can we forget the dao fiasco.
We see more and more projects declaring bounties for the bugs in the smart contracts but this solution is not reliable and we again have to trust humans. What if we have an automated, decentralized and trustless solution to audit the smart contracts for bugs and security vulnerabilities? Quantstamp protocol is the solution that would save us from faulty smart contracts.
So in short “The Quantstamp protocol is a trustless, decentralized, scalable and cost-effective system to audit all smart contract projects on Ethereum blockchain.”
Quantstamp has really active github and they have already audited Request Network’s smart contract.
I could not find any direct competition to Quantstamp, though Zeppelin Solutions does similar stuff but is costs a fortune getting a contract reviewed by them.
Quantstamp is one of those projects that will add value to Ethereum ecosystem and overall crypto space. Quantstamp looks by far most interesting project right now that is conducting a token sale. They are an excellent team with relevant experience, they are also very responsive on Telegram and Twitter to answer any questions you might have. Here is some of the information that I collected through their website and by talking to the team.
Website: https://quantstamp.com/
Whitepaper: https://docsend.com/view/shcsmhe
Github: https://github.com/quantstamp
Twitter: https://twitter.com/Quantstamp
Medium: https://medium.com/quantstamp
Telegram: https://t.me/quantstamp
Token sale details:
Project Name: Quantstamp
Ticker: QSP, ERC20 Token
Hardcap: $30M (includes presale and crowdsale)
Presale Cap: $11M
Presale Date: 10–09–2017 to 11–09–2017
Presale Price: 6,000 to 10,000 QSP/ETH
(depending on the quality of your Proof of Care)
Presale Bonus: 20–100% bonus for the presale participants.
ICO Cap: $19M
ICO Date: mid-to-late November 2017
ICO Price: 5,000 QSP/ETH
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