Quantstamp
Crypto Overview
Overview
Quantstamp is a security-focused cryptocurrency project launched in 2017. The QSP token is utilized within their ecosystem for paying for smart contract auditing services and as a means of compensating validators who perform automated security scans.
Intended Utility
The primary purpose of QSP is to serve as a utility token within the Quantstamp Protocol, enabling users to request smart contract audits and pay for security scanning services. Validators who run security checks earn QSP tokens as rewards for their services.
Actual Utility
Quantstamp has demonstrated real-world utility through its security auditing services. The company has conducted audits for numerous major blockchain projects including Binance, OmiseGO, and others. The protocol continues to be actively used for its intended purpose, with regular security audits being performed using QSP tokens.
Token Distribution and Governance
The initial token distribution allocated tokens to team members and early investors with standard vesting periods. The project maintains transparency regarding token allocation and usage. The team has consistently focused on developing their security auditing technology rather than token price promotion.
Technology and Development
The project maintains active development of their security scanning protocol and auditing services. Their technology serves a clear purpose in the blockchain ecosystem by helping prevent smart contract vulnerabilities and potential exploits.
Revenue Model
Quantstamp's revenue model is straightforward and halal-compliant. Users pay for security auditing services using QSP tokens, and validators earn tokens for performing security scans. This represents a legitimate exchange of value for services rendered.
Crypto Impact
To assign a comfort level investing in Quantstamp from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Quantstamp.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.