Quantstamp Community Update July 2019

Quantstamp Announcements
July 30, 2019

Quantstamp Security Network growing more decentralized, securing Binance’s first stablecoin,  auditing Klaytn,  Congressional Blockchain Education Day - it’s been an exciting month at Quantstamp. 

Here’s what’s been going on:

Quantstamp Security Network V2 Decentralization

The Quantstamp Security Network is growing in decentralization. Currently over 30 nodes have been created, running open source Quantstamp software from California to the Netherlands to Australia on an increasingly decentralized network. With global reach, the network is decentralized and resilient, enabling reliable and trustworthy security scanning of smart contracts. 

Ensure Your Dapps Are Secure

Are you an Ethereum Dapp user? Many projects open source their smart contracts for transparency. Running a smart contract security scan at protocol.quantstamp.com can help make sure that the Dapps you’re using are secure. Once the scan is run, the report is visible for anyone to see, allowing you to share the results with friends and other users of the Dapp.

Improve The Security of Your Dapps

Are you an Ethereum developer? It’s easy to miss bugs such as re-entrancy. Running a scan on your smart contract via protocol.quantstamp.com before deployment can make things safer for your users, and improve the reputation of your project. 

Note: this section was edited on 7/31/29 to correct some information.

Economics of the Quantstamp Security Network

How much do node operators on the decentralized Quantstamp Security Network get paid? How much does it cost to submit a smart contract scan? Julian Martinez has written a quick and easy guide to the Economics of the Quantstamp Security Network.

Binance Stablecoin Audit 

It was a pleasure to help Binance secure its inaugural stablecoin, the BGBP. Backed 1:1 by the British Pound, BGBP is created on both Ethereum as an ERC20 token and on Binance Chain as a BEP2 token. Binance is one of the most innovative and customer-focused exchanges we've seen and it was an honor to work with their excellent team.

Securing Kakao’s Klaytn Blockchain

In July we also finished our audit of Klaytn, the blockchain platform created by Kakao, the operator of South Korea's dominant messaging platform KakaoTalk. Built by GroundX, a Kakao subsidiary, Klaytn is a business-centric blockchain platform designed for mass adoption. With strong connections to regional firms, we think Klaytn has a good foundation to achieve its goals. 

Encrypt.d Podcast

It was a pleasure to be on the Encrypted Podcast. CEO Richard Ma chatted with hosts Ahmed and Nic about our role with the Dubai Future Foundation and helping to create a “Smart Dubai”. He also delved into recent projects we’ve worked on and the future of smart contract security automation. 

Ampleforth Partnership

In July, we completed our audit of Ampleforth - a smart commodity money. Compared to traditional stablecoins, Ampleforth uses an elastic supply model - using price as a signal to increase or decrease its supply. This novel mechanism aims to have positive macroeconomic effects compared to traditional supply-limited stablecoins. 

In addition to our audit of Ampleforth’s smart contracts, we’re also partnering with them to be a trusted data feed for price information. As a digital currency with elastic supply, Ampleforth relies on secure and accurate market oracles for supply adjustments. We’re happy to have helped secure Ampleforth’s smart contracts and help ensure they receive secure price information. 

Congressional Blockchain Education Day

Our CEO Richard Ma and VP of Strategy Olga Mack attended the third Congressional Blockchain Education Day on July 18th, 2019. As congress conducted separate hearings to discuss Facebook’s Libra and Bitcoin, Richard and Olga helped educate legislators on blockchain technology. 

Congressional Blockchain Education Day is the world’s largest blockchain advocacy event and brought together nearly 120 Chamber members for 70+ meetings educating lawmakers on Capitol Hill in Washington, D.C. Participating industries included financial services, insurance, cyber security, supply chain, transportation, manufacturing, advertising, real estate and health care. Congressional Blockchain Caucus Co-chairs Tom Emmer, Bill Foster, David Schweikert and Darren Soto provided remarks. 

Working with Japanese Enterprises

Our work in Japan was highlighted by Japan External Trade Organization (JETRO), a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world. We’ve been in Japan since our acceptance into Plug and Play Japan in 2018, and this year we opened a subsidiary there, Quantstamp Japan GK. The article goes over our involvement in Fujitsu’s accelerator and our ongoing relationship with them, such as helping them join the Smart Contract Security Alliance

Binance Charity Initiative

Binance kicked off a new charity initiative this month we were honored to be a part of. The PinkCareToken aims to alleviate period poverty in underdeveloped countries. Read more and find out how to participate here

Recent News from Quantstamp

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Note: This update includes information and forward-looking statements about upcoming events and concepts under continuing development. Schedules, features, and functionality are subject to change or cancellation at any time and you are not to place undue reliance on this information or any forward-looking statements.

June 16, 2020

4 Myths about Ethereum 2.0

Ethereum 2.0, a long-awaited upgrade to Ethereum, is planning to be launched this year. More than a simple update or hard fork, it is an entirely new blockchain which runs on a Proof-of-Stake system. There’s a lot of talk and speculation about Ethereum 2.0. In this post, we highlight 5 easily held misconceptions about this next stage of Ethereum.

June 3, 2020

Understanding Phase 0, The Current Stage of ETH 2.0 Development

Most information about ETH 2.0 development is either highly technical or excessively general. We wrote this post to clear up any confusion regarding the status of ETH 2.0 development.

June 2, 2020

Quantstamp Community Update - May 2020

Auditing ETH 2.0, Gitcoin NYBW Hackathon, Solidity Summit, here's what happened at Quantstamp in May.

May 28, 2020

How to Be an ETH 2.0 Validator on the Topaz Testnet

The Topaz Testnet is a public Ethereum 2.0 testnet created by Prysmatic Labs. It is a testnet version of Ethereum 2.0 Phase 0 which is planned to launch on mainnet later this year. Anyone can participate in the Topaz Testnet as a validator, and this article will walk you through the process.