Here’s what happened at Quantstamp in May:
Auditing ETH 2.0
We are proud to be auditing Prysmatic Labs’ ETH 2.0 client. Prysmatic Labs is developing a Go-based client which, according to EthHub, will act as the ETH 2.0 counterpart to Geth.
With ETH 2.0, Ethereum’s consensus algorithm is moving from Proof-of-Work to Proof-of-Stake. This transition addresses scalability - one of the biggest challenges facing Ethereum today.
ETH 2.0 brings many benefits, but the transition of a core consensus algorithm has complex security considerations. As a crypto-economic system, ETH 2.0’s security will be fundamental to its success. We are proud to be trusted with this important work to help move the industry forward.
Interested in running a Prysmatic Labs ETH 2.0 Validator? We've written a handy guide here.
DeFi Security Starts with Testing
Recently, hacks resulting in the loss of over $26 million USD in value rocked several prominent DeFi projects including bZx, Uniswap, dForce / Lendf.Me, and Hegic. These losses may have been prevented through quality testing.
Our recent post on test suites explains the benefits of a quality test suite, best practices for creating a test suite, and what a quality test suite looks like.
Gitcoin NYBW Hackathon
We’re not kidding about testing - it was the theme of our New York Blockchain Week Gitcoin Hackathon sponsorship. Teams that produced quality testing for their project were able to win a DAI prize.
Quantstamp and the World Economic Forum
As part of Ethereal Virtual Summit 2020, Quantstamp Research Engineer Sebastian Banescu talked about how Quantstamp is working with the WEF to help tackle corruption in government procurement. Sebastian explains how cryptography can be used to provide transparency to the process, while still balancing privacy for bidders in government contracts.
View the talk here.
May Customer Highlights
Idle Finance, a Robo-advisor for Yield (RAY) which was audited by us, launched their third version in May. This version has new yield allocation strategies, new protocols supported, and a brand new dashboard to monitor your portfolio.
Learn more in their launch article, or visit Idle at idle.finance.
PieDAO is a project that aims to provide diversified cryptocurrency assets in a single token. Its first product is BTC++, an ERC20 token that incorporates several top Bitcoin on Ethereum tokens.
Find out more on the PieDAO website. You can also view their Quantstamp audit report here.
As part of the Solidity Summit, Quantstamp Research Engineer Sebastian Banescu talked about how to detect DOS vulnerabilities caused by gas limits via fuzzing + generating exploits and fixes.
Our CEO Richard Ma was interviewed by The Cryptonomist this month. He talked about the history of Quantstamp as well as security challenges and pitfalls for blockchain projects. He also discussed what he believes is holding back blockchain from further adoption. Read the full article here.
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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