Quantstamp Community Update July 2019

Quantstamp Announcements
August 1, 2019

Quantstamp Security Network growth, 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 Growth

The Quantstamp Security Network is growing. Currently over 30 nodes have been created, running open source Quantstamp software from California to the Netherlands to Australia. With global reach, our 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. 

If you have any questions while using the protocol, be sure to use the “Help” button.  We’re constantly monitoring our network and improving it based on user activity and feedback. 

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

Economics of the Quantstamp Security Network

How much do Quantstamp Security Network node operators get paid? How much does it cost to submit a smart contract scan? Quantstamp’s 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

Don’t miss out on the latest from Quantstamp. Follow us on Facebook, check us out on Twitterjoin the conversation on Reddit, Subscribe to our Youtube, Subscribe to our Newsletter, or find us on LinkedIn.  

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.

October 7, 2019

You are Invited to the Quantstamp Security Assurance Protocol Beta Test

Thank you for participating in the beta-testing phase of the Quantstamp Assurance Protocol. Help us collect feedback in order to make improvements.

October 4, 2019

How to Use DeFi Safely

With eye popping interest rates on lending platforms, it’s never been more tempting to put assets into some of the promising new #DeFi applications out there today. But is security an issue? Dr. Poming Lee, Security Engineer with Quantstamp, explains how to keep your funds safe when using DeFi.

October 1, 2019

Quantstamp Community Update - September 2019

Quantstamp Blue Paper upcoming, securing #DeFi, the latest Forbes Tech Council article, and more.Here’s what’s been going on at Quantstamp in September:

September 25, 2019

Quantstamp Enhances Security of Blockchain Certified Sports Memorabilia

On Monday, September 9th, BlockStar, a company authenticating real-world goods using blockchain technology, and DeMarchi, the iconic cycling apparel brand established in 1946, sold the world’s first blockchain certified replica of Fausto Coppi’s 1953 De Marchi Jersey for $10,500. Quantstamp facilitated the success of this sale by enhancing the security of the blockchain components and the website used to conduct the auction.