Quantstamp: Seal of Approval for the Blockchain by lordprime

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quantstamp · @lordprime · Jan 24 '18

$0.07

Quantstamp: Seal of Approval for the Blockchain

![qsmp logo.png](https://steemitimages.com/DQmNUgYrSCVec4PUqi7TZFQNJmJ5495oTe7txTMaEXiRsQj/qsmp%20logo.png)

In 2014, I got a few Ripple in their giveaway, sold them for a nice profit, and didn’t Bitcoin had staying power. I forgot about the whole thing until some friends reintroduced me to crypto in the Summer of 2016.

I put down $500 to buy 1 bitcoin and $500 to buy 40 Ether. In 2 weeks, Ether had doubled and bitcoin was up 40%. The DAO, the first decentralized network built on the new Ether platform, was first getting started, and it was a brave new world. Unfortunately for me, the DAO got hacked, Ether cracked, and I sold all my crypto holdings. Turns out this is the genesis story of Richard Ma who was apparently inspired by the same DAO debacle to create Quantstamp.

Quantstamp is a service that audits smart contracts on Ethereum or NEO. A similar company that helps secure the Internet is Verisgn (ticker VRSN), which has a $11 billion market cap. Quantstamp is currently #90 on coinmarketcap with a total valuation of only $271 million, and so is a steal by comparison.

They’ve teamed up with a number of prominent investors and blockchain companies including Y Combinator, Blockfolio, Ink Protocol, amongst others. Management is aligned as they have locked up their own holdings for 3 years, which shows their commitment to the project.

They also are working to build a community—people who hold Quantstamp tokens and work to improve the system can enroll in a Proof-of-Caring and receive airdrops in the companies that they audit. For instance, currently they will be distributing Ink Protocol and Insights Network tokens over the next few months.

Over the next few years, I expect a Quantstamp approval to become the “Good Housekeeping Seal of Approval” of the blockchain. At a price of only 1/40th of Verisign, this could be a blockbuster.

As always, do your own due diligence.

Disclosure: Long Verisign, Ethereum, and NEO

Resources:
Badcryptopodcast Episode 6
http://badcryptopodcast.com/2017/11/14/ico-spotlight-6/

Medium:
https://medium.com/quantstamp/proof-of-hodl-announcement-d6de05a0d531
https://medium.com/@richard_19839

👍 lordprime, larryphang, epicfinbar, mela.soscun, coin.info, andycox

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@abhishek1592 · Jan 24 '18

$0.04

If Ethereum is Amazon, Neo is Alibaba, both are excellent projects with great vision, security was and is always big thing in cyber space, over the time I believe wide adaptability of blockchain will raise serious concern regarding security, when project like Quantstamp will win. And yes don't forget Quantstamp is one of the earliest blockchain security company. We know privilege of being first in corporate world ;)

👍 lordprime

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@lordprime · Jan 24 '18

$0.05

I still remember back in the day when people were terrified, yes terrified, at the idea of ordering online with their credit card.  Companies like Verisign solved that problem and were handsomely rewarded.

I wrote off the blockchain for over a year after the DAO disaster.  The valuation is so low that it's really quite incredible.

👍 lordprime

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@coin.info · Jan 24 '18

$0.04

**Coins mentioned in post:**

Coin | | Price (USD) | 📉 24h | 📈 7d
- | - | - | - | -
**BTC** | Bitcoin | 10771.400$ | _-1.42%_ | _-2.66%_
**ETH** | Ethereum | 977.243$ | _-2.61%_ | _-1.85%_
**NEO** | NEO | 119.841$ | _-1.71%_ | _-9.0%_
**QSP** | Quantstamp | 0.444$ | _0.88%_ | _9.94%_
**XRP** | Ripple | 1.339$ | _0.72%_ | _17.26%_

👍 lordprime

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@mawit07 · Jan 26 '18

$0.02

Reading your post I gather quantstamp holders earn other tokens like a dividend payout. This would sort of be like a passive income investment. Just out of curiosity how much air drops do you see from holding quantstamp per a year? I will definitely look into this token. Thanks!

👍 lordprime

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@lordprime · Jan 29 '18

It depends on the number of companies they audit.  The more they do, the more airdrops they can give

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