SAN FRANCISCO - October 30, 2017 (Investorideas.com newswire) van Cheng, Director of Engineering at Facebook, and Chris Miess, ex-CEO of TenX, are among many blockchain insiders to join a groundswell of crypto community support for blockchain security startup, Quantstamp.
Quantstamp's technology would have saved over $100 million in smart contract losses in the Ethereum ecosystem in the last year.
This June, the company introduced a protocol designed to secure smart contracts and launched a scalable solution to one of Ethereum's critical challenges: the security of smart contracts. Today, Quantstamp boasts the fastest growing crypto community on Telegram.
Co-founders Richard Ma and Steven Stewart suggest the security issues threatening blockchain projects and cryptocurrencies are not going away anytime soon. "Hacking is highly lucrative for criminals, and the funds are hard to trace," explained Richard. "This is a systemic issue."
Despite surmounting risk involved with cryptocurrency transacting, the exponential volume of Ethereum transactions is staggering. Since June 2017, the number of smart contracts has quadrupled from 500,000 to over 2 million. Meanwhile, blockchain projects using smart contracts - no matter how well written - are vulnerable to hacks. Few companies are equipped to scale with the growth in the number and complexity of smart contracts.
Quantstamp, however, has gained traction by assembling a team, including four multidisciplinary PhDs and well-respected leaders in the crypto space, to contribute to the Quantstamp whitepaper. Given a fault-tolerant protocol [designed so that malicious actors cannot manipulate audit results], the mission to secure Ethereum smart contracts is bolstered by an auditing network incentivized by verification tokens. Follow us @quantstamp on twitter.com/quantstamp. Come join our newsletter at quantstamp.com.
Quantstamp Technologies, Inc. is based in Waterloo, Canada and San Francisco, California. In 2017, Quantstamp introduced the first scalable security-audit protocol designed to find vulnerabilities in Ethereum smart contracts.
Quantstamp Technologies, Inc.
Meg VanDeventer, +1 415-504-1595
Communications Director @Quantstamp
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: http://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire http://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: http://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.