Quantstamp is proud to be a Cypher sponsor of ETHDenver. This will also mark the third time we participate in the hackathon (we have attended the event every time!).
ETHDenver is a big event for the Ethereum community. In 2019, ETHDenver delivered the largest Ethereum hackathon ever, but make sure you don’t call ETHDenver “just a hackathon” because it is much more than that. ETHDenver is a community gathering that builds connections between a diverse set of attendees that include anyone with a passion for decentralized technology.
This year, Colorado Governor Jared Polis will attend ETHDenver and participate in a fireside chat with other government officials. An “Advance Colorado” government track is also available at the event in order to get people thinking about how decentralized technology can make concrete improvements in the lives of Colorado citizens.
Something else that makes ETHDenver unique is that it delivers an immersive web3 experience. Last year, attendees were onboarded to the BuffiDAI, an ephemeral event-only currency, and this year, healthy event engagement will be incentivized through gamification by BuffiDAO.
At this year's hackathon, it is likely that most hackathon participants will be building DeFi applications. As of February 5th, 946.5 million USD worth of digital assets are locked in DeFi applications, solidifying DeFi as the leading application for blockchain technology.
One of the reasons DeFi is powerful is because it is highly composable. DeFi applications are often referred to as “money legos” for their ability to integrate with one another in order to create more powerful applications. For example, an application called rTrees leverages rDAI which leverages Compound in order to help you donate your interest to charity.
In order for DeFi applications to continue thriving, developers must work with a security first mindset. If there is a vulnerability present in one of the “money legos,” other applications that depend on the vulnerable application will also be impacted. In 2017, over a quarter billion dollars worth of digital assets were either lost or stolen.
In order to take this risk seriously, DeFi applications need to get a security audit before going live. Quantstamp is a leading auditing firm that has worked with over 100 blockchain projects including Multis, OmiseGO, Nuo, and Sablier. Having secured over 1 billion USD worth of digital asset value, Quantstamp’s extensive experience makes us the ideal choice for security services.
If you are interested in talking about smart contract security at ETHDenver, make sure to stop by our booth and say hi! If you visit our booth, you also have the opportunity to earn 500 XP which can be used to earn special rewards at the event.