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Overview of Quantstamp
In simple terms, Quantstamp is this self auditing protocol for smart contracts incorporating software verification and bounty payment systems.
They want to create audits that are secure, scalable, and cost-effective by using distributed network nodes which are similar to Ethereum nodes. Quantstamp aims at solving the security crisis that faces smart contracts on Ethereum due to the bugs in smart contracts where over $250 million worth of Ether were either locked or stolen. It has two main features one is the software verification system and second is the pay out that delivers rewards to their participants.
The total supply of QSP is 976 million QSP and a circulating supply of 617 million QSP is available for sale. The QSP is an ERC20 Ethereum token which can only be bought with ETH. These tokens are used as a method of payment for verification services and it’s through QPS that providers are rewarded for service offered.