7 reasons why I will hold Quantstamp and why you should, too.
Quantstamp is the Protocol for Securing Smart Contracts, build to protect users and investors — with scalable proofs-of-audit. I believe the crypto world needs a project of this kind and it’s not because of ‘lambo to the moon’, as one may say. Quantstamp has a potential to contribute to the healthy development of the entire Ethereum platform for many new businesses and projects. Therefore I support the project and think of it in the long-term. Here are the 7 reasons why:
- There is an actual problem that it solves
With the advancement of technology and the widespread adoption of smart contracts and ICOs, already today one can notice a solid demand in the crypto space for professional smart contract audits. Does it sound familiar? You write the first smart contract for your project and you would like to get a second opinion. You reach out to advisors, CTOs with more experience, probably those who have already run projects through ICO, but there is no common place to go for a quality assurance. Well, there is such a place now and it is called Quantstamp.
2. Future demand is likely to be through the roof
How many times you heard ‘it’s just the beginning’? The fact is that there are increasingly more touch points between blockchain technology and the business world, and it has a global effect. Starting from choosing Ethereum as a platform that allows businesses to enter the blockchain world, through a fast-growing number of ICOs, finishing on Decentralized Autonomous Organizations — entire companies and organizations are based on smart contracts. Having that in mind, the number of smart contracts playing an important role in the economy will be growing exponentially and on a global scale. On the other hand the availability of experts able to properly audit the contracts is unlikely to match such a fast pace. Therefore, a supply and demand gap is expected to occur. In all likelihood it will not be just big, it will be ‘huuuge’.
3. Blockchain is safe but smart contracts are not
Many of us remember The DAO attack and a hack draining The DAO of ether collected from the sale of its tokens. Blockchain is safe in its nature; yet smart contracts may include holes and bugs. In a world where much is at stake depending on the quality of smart contracts the professional audit ensuring security is priceless.
4. They already have a Proof of Concept
The project has been tested — Smart Contract Request Network. This is a rarity in the crypto world and just a few ICOs can boast about that. However, it is imperative if one is to think about the project long term.
5. The team is solid
There are usually two crucial factors to evaluate the potential success of a venture — the jockey (the team) and the horse (the idea). I covered the latter already. When it comes to the first factor, in case of Quantstamp we are dealing with a really talented team and a group of experienced advisories. Four PhDs in the core team and among the advisors the Director of Engineering at Facebook, who is involved hands on. Interestingly, the team is not merely brilliant technically, but they are also skillfully inventive in creating buzz and good energy around the project, which is proven by the introduction of the breakthrough ‘Proof of Care’ mechanism — my next point.
6. Proof of care
An innovative mechanism that leads to the situation where the most involved members of the Quantstamp community will be able to acquire tokens under the best conditions. It’s a revolution in the crypto realm, a true breakthrough that gives power back to the community, not just to whales with heavy wallets.
Co-founder & CEO Richard Ma, talking about Quantstamp and proof of care:
7. Right moment & long life ahead of Ethereum
At the time when the Quantstamp tokens are to be released, we would have two important hard forks introduced — Bitcoin and Ethereum. This means that the market is expected to calm down with value returning to altcoins and ICOs. This will be a period where one can assume the market volume will increase, thus Quantstamp should surge in value.
Last but not least, it is my personal opinion that Ethereum is here to stay. Today Ethereum is the most common platform for blockchain applications, the creation and use of smart contracts, and the so-called decentralized apps — dapps. Based on this technology Web3 arises. Ether is the second largest cryptocurrency by market cap; the Ethereum Foundation has ambitious and realistic goals, a brilliant leader and a bright future ahead.
Those are the 7 reasons why I will hold Quantstamp and why you should, too. I strongly believe that Quantstamp has the potential to bring a lot of good to the crypto world through better security of smart contracts. Having said that, it is reasonable to believe it will accelerate the adoption and development of the whole platform.
Disclaimer: Remember, that this is not a financial advice. Do your own research before making any investments.
