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Ever since the day when Bitcoin first got its initial value, the crypto world has been facing a threat of scammers and hackers. After all, wherever there is money, there are bad actors looking to rob and scam people in order to get it from them. Throughout the years, there have been countless scamming and hacking incidents, but their peak was in 2017, during one of the largest bull runs that the crypto world has ever seen.
With the market being extremely bullish, and people willing to invest in virtually anything, a lot of scammy projects emerges, while hackers were targeting exchanges, wallets, and even projects themselves. Security and safety became more important than ever, and fortunately, the crypto industry is still taking the matter of security very seriously even now, 5 years later.
This is why there is a great need for reputable projects that can vouch for the security of the projects around them, which led to the creation of Quantstamp (QSP).
What Problems Does Quantstamp (QSP) Solve?
Quantstamp emerged to solve a number of issues and bring users peace of mind when it comes to the new crypto/blockchain projects that they might be interested in working with. Some of the issues that the project aims to solve include:
Security in blockchain is of the utmost importance. This is true for any project, no matter what it wishes to achieve and what features it offers. Quantstamp quickly became a leader in blockchain security, providing expert audits for some of the top crypto and enterprise companies.
In fact, it is servicing the likes of Binance, MakerDAO, eToro, Chainlink, World Economic Forum, and even the upcoming Ethereum 2.0. Having clients like these brought a lot of credibility to the project’s name, and it proved to the users that Quantstamp can be trusted.
Smart contract verification
Smart contracts are undoubtedly the future of the blockchain industry, and that is already fairly obvious. The self-executed contracts are being used for developing and running pretty much every blockchain product, from dApps to entire metaverses, exchanges, and more. However, smart contracts are very technical in nature, and there is no way for users who are not coding experts to determine whether a smart contract is safe or not.
This is why Quantstamp is offering smart contract verification as a service. As a reliable and trustworthy third party, it can review the contracts and confirm that they are functional, fair, and truthful, thus forever removing the doubt of those who are required to use it.
The crypto industry, as well as the broader community, are seeking decentralization. This is a requirement that allowed crypto and blockchain to grow to this size. By verifying projects and ensuring their security, Quantstamp ensures that users will trust in said projects, which, in turn, allows decentralized projects to survive and continue operating.
In other words, Quantstamp is contributing to decentralization’s survival and development by confirming that the projects are actually decentralized, and giving the green light for their use.
Benefits of Quantstamp (QSP)
Quantstamp offers a number of benefits to those who use it, and many of these benefits can help the users profit, whether directly or indirectly. For example, the project offers:
24/7 security monitoring software
By now, we have stressed the importance of security enough, but another thing that should be remembered is that consistency of that security is just as important. Users need to know that the project is not slipping up and that it is safe at all times. This is why Quantstamp is offering a security monitoring software, which monitors the security of projects non-stop. That way, users can always have a clear insight into how the projects perform security-wise.
Another benefit is the additional transparency that Quantstamp brings to the crypto space by doing what it does best. If there are flaws in the projects, Quantstamp can find them, and the same goes for individual smart contracts. While contracts and projects may be transparent by nature, Quantstamp helps both crypto users and businesses by providing detailed insight into the technical side of these projects, and it makes it understandable.
Running a node
Finally, the project also allows people to earn by becoming node operators. For helping its network by running a node, users can collect rewards, which is not unique to this project, but it is still worth mentioning as one of the benefits that Quantstamp has going for it.
How Does Quantstamp (QSP) Work
Quantstamp is a blockchain project that acts as a leader in blockchain security. The project has performed over 200 audits, and it scured more than $200 billion in value, according to its website. It claims that its mission is to facilitate the mainstream adoption of blockchain technology by providing security and risk assessment services.
The project offers the ability to secure Layer 1 blockchains, such as Ethereum 2.0, BSC, and other projects. Next, it secures smart contract-powered NFT and DeFi applications and protocols, and it is developing financial primitives for Layer 1 blockchain ecosystems. The project is covering NFTs, DeFi, Layer 1 chains, CBDCs, Stablecoins, Exchange services, Custody services, Enterprise research and implementations, and even Insurance offerings.
How to Buy Quantstamp (QSP)
Quantstamp (QSP) is available on the following exchanges:
Uphold – This is one of the top exchanges for United States & UK residents that offers a wide range of cryptocurrencies. Germany & Netherlands are prohibited.
Uphold Disclaimer: Assets available on Uphold are subject to region. All investments and trading are risky and may result in the loss of capital. Cryptoassets are largely unregulated and are therefore not subject to protection.
Gate.io – This exchange was established in 2013, and is one of the more popular & reputable exchanges. Gate.io currently accepts most international jurisdictions including Australia & the UK. USA & Canada residents are prohibited.
Quantstamp (QSP) — Leader in providing security and expert audits
Blockchain technology has the potential to change the world, and at this point, it has made major steps on its way towards mainstream adoption. This makes ensuring the security of blockchains, smart contracts, various projects, and the money invested and stored into these projects more important than ever.
This is what Quantstamp has dedicated its time and efforts towards, realizing the need for security and transparency of this information, and their importance for the survival of decentralization. As such, its native token, QSP, is a worthwhile investment, as the project itself is highly reputable and partnered with some of the biggest names and projects in the entire blockchain industry, including Ethereum 2.0 — the long-awaited second version of Ethereum, that will revolutionize the ETH network.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.
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