Quantstamp
Crypto Overview
Understanding Intended Utility
Quantstamp (QSP) was created as a utility token for the Quantstamp Protocol, a system designed to audit smart contracts automatically. The protocol aims to enhance blockchain security by providing automated scanning for vulnerabilities in smart contracts. QSP tokens are meant to be used to pay for automated security audits and to reward validators who run the nodes that perform these security checks.
Actual Utility and Implementation
The project has demonstrated real-world utility through its security auditing services, having audited over 200 projects including major ones like Binance and OmiseGO. However, the actual usage of the QSP token in the protocol has been limited, with most of Quantstamp's business being conducted through traditional payment methods rather than through the QSP token system.
Token Distribution and Governance
Initial token distribution allocated 65% to the public sale, 20% to the team and advisors (with vesting periods), and 15% for the company's operations. The vesting schedule for team tokens showed good faith with 4-year vesting periods. However, trading volume and general token utility have remained relatively low compared to the initial vision.
Development Activity
While Quantstamp as a company continues to provide security auditing services, the development activity specifically related to the QSP token ecosystem has been minimal in recent years. The focus appears to have shifted more toward traditional security auditing services rather than developing the decentralized protocol.
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.