Quantstamp Community Update - October 2019

Quantstamp Announcements
November 1, 2019

Devcon Osaka, working with MetaCartel, UWaterloo Blockchain+Security Workshop, SF Blockchain Week...it’s been a busy month.

Here’s what’s been going on at Quantstamp in October:

How to Use Defi Safely

#DeFi is the latest trend in Ethereum. Decentralized finance products like Compound Finance and dYdX allow you to save money and even earn interest on it using distributed apps running on the decentralized Ethereum protocol. The best part is that these products have no barrier to entry and are often even easier to use than traditional financial services.

DeFi is very cool - but is it safe to use? Just like any other online application, security is essential. In this article by our security researcher Poming Lee, we explain steps you can take to use DeFi applications safely.

DevCon Osaka

Devcon V in Osaka recently finished. DevCon is the biggest official Ethereum conference of the year, organized by the Ethereum Foundation. 

We spoke on a security panel, organized two events, and met many great projects and friends. 

Security Engineer Yohei Oka spoke on a security panel with ConsenSys Diligence, OpenZeppelin, ChainSecurity, as well as the Ethereum Foundation hosted by Researcher Dean Eigenmann.  

We also co-hosted a blockchain researcher focused meetup with our friends LayerX and MythX. The event featured a number of high-quality research topics on blockchain security. 

After 4 days of amazing talks, great events, and discussions, we’ve never been more optimistic about the future of Ethereum. 

Securing DeFi

Quantstamp is in the process of auditing rDAI. rDAI allows users to re-direct interest earned from DAI staked in DeFi protocols without requiring the underlying collateral to ever leave the user’s wallet. This has the potential to create ‘programmable interest’. Quantstamp has sent the initial audit report to rDAI and we are waiting for them to respond with fixes. 

This audit is particularly special to us because it was funded by the MetaCartel DAO, a distributed organization focused on funding and incubating early stage web3 use cases. Helping DAOs, DeFi applications and other Dapps helps improve the decentralization of the ecosystem and we look forward to working with more DAOs in the future. 

University of Waterloo Blockchain+Security Workshop

Security Research Jan Gorzny presents at the University of Waterloo’s Blockchain Workshop

From October 5-6th, Quantstamp Security Researchers Jan Gorzny and Martin Derka presented at the University of Waterloo’s Blockchain+Security Workshop. The event was research focused. Jan presented on general issues and concerns for blockchain security and how they may be overcome, while Martin spoke on specific smart contract vulnerabilities involving Fairwin and Fomo3D. 

San Francisco Blockchain Week

We are now at SF blockchain week, where we’re meeting with friends and partners, as well as giving talks. If you see us, say hello and you may be able to get a limited edition Quantstamp T-shirt =).

Smart Contract Security Alliance 

In October, we announced the founding council for the Smart Contract Security Alliance, an organization dedicated to furthering education and standards for blockchain security. The Alliance now counts Fujitsu R&D, MythX, NRI Secure, NUS Crystal School of Computing, LayerX, and BlockGeeks among its members. We will be releasing further content from the alliance soon. 

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.

March 31, 2020

Quantstamp Joins MyID Alliance

Quantstamp is proud to join the MyID Alliance, a Digital ID initiative by ICONLOOP. As the world moves towards more online and less face-to-face interactions, Digital ID will be a key enabling technology. 

March 24, 2020

Market Dynamics of the 1st bZx Hack: Flash Loans and the Insolvent Loan

In this series, we describe the market dynamics of the 1st bZx attack so we can avoid attacks with market manipulation components in the future.

March 13, 2020

Top 3 DeFi Trends

This post discusses how flash loans, zaps, and DeFi aggregators are leveraging composability in order to simplify the user experience and ultimately make DeFi markets hyper-efficient.

March 11, 2020

Bringing Bitcoin to DeFi

DeFi is blockchain’s first killer app, with assets locked up approaching $1 billion USD. But one major asset is missing: Bitcoin. Bitcoin is not only the first crypto asset, but the largest - with over $168 billion USD of Bitcoin in circulation it has deep pools of liquidity. It is one of the least volatile cryptocurrencies and has a large network of fiat on and off ramps. All these properties make it a great crypto-collateral. We think Bitcoin has the potential to transform the DeFi landscape as the most widespread and liquid asset available today.