Quantstamp is a scalable security auditing protocol designed to identify vulnerabilities in Ethereum smart contracts. The Quantstamp protocol creates a scalable and cost-effective system to audit all smart contracts on the Ethereum network, addressing the security issues of smart contracts. Over time, and with many considerations for security, Quantstamp aims for every Ethereum smart contract to use the Quantstamp protocol to perform security audits.
The Quantstamp protocol relies on a distributed network of participants to mitigate the impact of bad actors, thus generating sufficient computational power to manage the network. Each participant will use Quantstamp protocol tokens (QSP) for payment, receipt, or improvement of services.

1. Project Application

1. A creator of a smart contract creates a contract (the creator must have a certain amount of QSP tokens to reward contributors to the smart contract later).
2. Contributors submit code that enhances the reliability and security of this smart contract (and receive a certain amount of QSP tokens).
3. Validators (miners) provide computational power and run Quantstamp’s validation nodes (and receive a certain amount of QSP tokens).
4. Bug finders submit bugs and terminate the smart contract (and receive QSB tokens).
5. Contract users utilize the results of the security audited contract.
6. Voters: The voting mechanism based on QSP tokens is at the core of governance.

2. Project Highlights

Quantstamp is a decentralized, automated, and secure auditing platform dedicated to using higher levels of automation to audit smart contract code, achieving greater security, shorter audit cycles, and lower costs.

1. Quantstamp Protocol:

① An automated, upgradeable verification software system for Solidity programming language (the language used for Ethereum smart contracts).
② An automated bounty payment system rewarding discoverers of flaws in smart contracts.
QuantStamps unique position lies in its combination of automated computation and human operations, greatly increasing its scalability.

2. How Does Quantstamp Improve Smart Contract Infrastructure?

① The protocol allows end-users to directly submit programs for verification, and the audit results cannot be manipulated by humans;
② It incentivizes miners by making the verification and proof of smart contracts part of Ethereum validation node software.

In the future, QuantStamp plans to partner with third parties to offer smart contract insurance, further reducing the risks associated with using smart contracts.

3. How Does Quantstamp Improve Developer Processes?

Manual open-source code reviews and unit testing do not meet the demands of blockchain technology.
To minimize risk, developers can submit their own code directly from their wallets for security audits through Quantstamp Ethereum smart contracts, inputting source code into data fields and sending QSP tokens.
The Quantstamp protocol provides this simple interface and more streamlined process to verify smart contracts, minimizing the chance of vulnerabilities while also helping protect developers reputations by proving they have conducted audits on the blockchain.

Related Links:
https://quantstamp.com/
https://www.jianshu.com/p/1dfef2763d62