Hackers we all hate them right? Every day, they are trying to put hands on our private data and money. When it comes down to crypto we know how important the security is. One single mistake can lead to huge risks! We are in the era of the icos, many of them have been hacked and people have lost a lot of money. The smart contracts are very vulnerable. We all remember the DAO hack:
"On the 18th of June, members of the Ethereum community noticed that funds were being drained from The DAO and the overall ETH balance of the smart contract was going down. A total of 3.6m Ether (worth around $70M at the time) was drained by the hacker in the first few hours. The attack happened due to an exploit found in the splitting function. The attacker/s withdrew Ether from The DAO smart contract multiple times using the same DAO Tokens. This was possible due to what is known as a recursive call exploit."
But it is all over!! The new blockchain company Quantstamp are the security experts! They are building a protocol for ethereum because they care about the ethereum community. They want to protect users and investors – with scalable proofs-of-audit. Smart contract will be audited by their protocol.
Amazing team!
They have a very strong team, they have been among original ethereum investors, they understand the space. They were witnesses of all the smartcontract hacks, their experience is huge. A lot of bright minds, some of them worked for the goverment, some for google, some for apple and facebook!
Working product!
They already have a working product which is huge! No more whitepaper icos! They audited the Request Network A decentralized network for payment requests, so their ico went smooth and great!
Their impact on the cryptospace is quite significant. In my opinion, they are among top 10 icos in this year. Every ico will have to use their auditing protocol in order to create secure ico smart contract.
THESE ARE GREAT NEWS FOR THE CRYPTOSPACE AND BAD FOR THE HACKERS!
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Quantstamp website: https://quantstamp.com/
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