Quantstamp (QSP) Crypto Review: Smart Contract Auditing
Quantstamp (QSP) is a protocol that aims to create a scalable and cost-efficient auditing system for all smart contracts that operate on the Ethereum network. At the moment smart contract auditing costs are high prices can range within thousands of dollars per audit and take several weeks to conclude.
Quantastamp aims to solve this problem by providing a fast and inexpensive smart contract auditing services prices will range from as low as 10usd dollars per audit and take minutes to complete.
In this review, I will be analyzing Quantstamp from a crypto investment perspective. For a more technical analysis, please do your due diligence and read the whitepaper.
Highlights in this review will include:
* Quantstamp– Introduction
*The Team– Who are they?
* Marketing– Brand awareness and marketing strategies
* Investment Analysis- Could QSP be a profitable investment?
So let’s get started!!
Quantstamp (QSP) Cryptocurrency Review: Introduction
Essentially Quantstamp is a protocol that offers an inexpensive and speedier alternative to smart auditing contracts then traditional options. Quantstamp is not the only crypto project aiming to reduce smart contract auditing expenses there are emerging alternatives such as Etherparty, Agrello, Block Cat and other competitors.
Regardless of its competitors, I feel this sector has room for many key players, and I welcome competition as it inspires innovation and leads to better customer services.
Quantstamps token (QSP) is an ERC-20 based token that can benefit its holders in many ways. The QSP token will also offer incentives to those who contribute to the software for verifying the solidity programs; users who run the Quantstamp validation node (a specialized node on the Ethereum network), and members who find bugs on the smart contracts. Holders of the QSP token will also have voting rights that lessen the chances of hard forks and lead to a more decentralized environment.
So basically participants such as ICOS or developers will need to purchase QSP to utilize the Quantstamp platform and protocol services.
Quantstamp has a current market cap valued at aprox$84,535,620 USD and has a circulating supply of 617,314,171 QSP tokens and a total fixed amount of 976,442,388 tokens.
Since QSP is an ERC-20 based token the best place to store the tokens is in myetherwallet. I prefer purchasing the tokens on the Binance Exchange since the trading fees are low and the user interface is simple to use.
Quantstamp (QSP) Token Review: The Team
The team is pretty solid and is based in Silicon Valley I was able to find at least ten team members many of whom seem to have studied at the University of Waterloo ( Canada’s Silicon Valley), Vitalik Buterin(Ethereum founder) also attended the University of Waterloo.
PeculiarMonkeys is from Canada, so it’s nice to see all of the homegrown talent and exciting crypto developments emerging.
Richard Ma is the CEO of QuantStamp it should be noted that he retired before starting Quantstamp his former work experiences include algorithmic trader at Tower Research and, a derivatives trader at Archelon Group. He has handled millions of dollars as a successful trader and judging from his photos he appears quite young, so he’s done exceptionally well for himself.
Steven Stewart, CTO – Is an experienced, smart contract developer and has five-year work experience working for the Canadian Department of National Defense. He is also a co-founder of Many Trees, Inc.
Each of the Quantstamp team members holds numerous achievements I could write all day about them. Investors should take comfort in knowing that as an investor the team is composed of experienced developers, Ex-Google, Amazon, and IBM employees.
Equally Qualified are the Quantstamp advisors. Some include Evan Cheng, Director of Engineering at Facebook, David Park product manager at Facebook.
Notable partners include Y Combinator, Black folio, Request Network and many others.
Quantstamp (QSP) Crypto Review: Marketing Strategy
Quantstamp has a large social media following on sites such as Facebook and Twitter. They also appear to be creating YouTube videos on a frequent basis which is a great way to promote the Quantstamp brand and listen to the team members.
Reddit has a growing community where you can find up to date information on the Quantstamp project. Quantsamp also has a personal blog where the team frequently updates its users.
They have been busy on Github you can find that they have been hard at work developing the protocol.
Overall they are doing a great job at marketing and considering that they have recently completed their successful ICO the project is gaining lots of support within crypto communities.
Quantstamp (QSP) Protocol Review: Investment Analysis
Overall I feel that Quantstamp has a bright future the team is very experienced and accomplished. Furthermore, I believe it to be much further ahead of its competitor’s technology wise.
With cryptocurrencies becoming more mainstream and adopted I believe Quantstamp to be a key player in its sector. This investment will be most beneficial for long-term holders who can wait until the main net releases in August of next year (2018).
Accumulation of QSP tokens could be a good strategy to follow while the prices are low.
(As always please do your research before investing in crypto projects this review is my own opinion and is not meant to be taken as investment advice.)