Quantstamp to Audit Ink Protocol
Quantstamp has completed an initial audit of Listia Inc.’s Ink Protocol smart contract. Listia aims to disrupt traditional peer-to-peer marketplaces by tracking the reputation of sellers across multiple markets using the Ink Protocol. With over 10M users, Listia is aligned with our mission of bringing blockchain technology to the mainstream. Like Quantstamp, Listia is also a Y Combinator company. In addition, they are backed by Andreesen Horowitz.
Currently, sellers with established reputations on one platform need to rebuild their reputation from scratch when selling products at a new marketplace. This not only hinders the business of trustworthy sellers, it also means that buyers do not always purchase their products from the most trustworthy sellers on any given platform.
The Ink Protocol solves this problem by tracking seller reputation and consumer feedback using the Ethereum network anytime a purchase is made with XNK tokens. By tying this information to Ethereum, any existing peer-to-peer marketplace can draw from this database to track the reputation of their sellers across multiple platforms. This not only allows for sellers to build their reputation over multiple platforms, it also gives buyers a more comprehensive view of any given sellers reputation.
Listia is a peer-to-peer marketplace that currently utilizes centralized digital currency. This marketplace has over 10 million users that have collectively exchanged over 100 million items. Listia plans to switch its entire user base over to the Ink Protocol by replacing all of their centralized digital currency with XNK tokens.
“Listia Inc. is proud to announce that Quantstamp is auditing the Ink Protocol smart contract,” says CEO and Co-founder Gee Chuang. “This allows us to deliver a product to our users that not only revolutionizes the peer-to-peer marketplace but also provides a better experience for our users.”