It's the first of it's kind if I'm not mistaken – a smart contract security auditing protocol. If you take into context the amount of effort being put in to scale Ethereum ; especially with the gaining momentum in ICO issuance , security auditing puts in a sense of credibility for those who are using it. Quantstamp is selling a sense of security - I quote the whitepaper here:
"Suppose a developer plans to deploy a smart contract written in Solidity on Ethereum. There is substantial risk when writing code that accesses a monetary system, and the developer must be careful to ensure that no funds are lost due to vulnerabilities"
If i understand anything about marketing - selling "Security" is tapping into a "need" ... not a "want". This would definitely bring in big bucks over the mid to long term - especially since they've been involved with a Y-combinator related ICO - pretty sure they'll get the connections sooner or later!
Additionally, they did their first audit on Request Network ICO, so I'm assuming that they have some form of product in hand already. They did their pre-sale in September, main-sale starts in November. There's a tech roadmap on page 6 of the white paper - again implying that they've done quite abit of ground work going into this - it gives me the vibe that they're worth betting on.
I checked out their telegram group - it's pretty decent , can't escape the "lambos" and "moons" etcs but if “coinxyzarmy” is a measure then these guys are okay. They founders are also hands-on; Richard Ma seems pretty cool and engages quite a bit with the community
Oh, and the most interesting bit of the ICO itself - signing up for their whitelist isn't as straightforward - they practice something they engineered on their own - the Proof of caring (POC) . Basically they want people who sign up on their whitelist to prove that you've actually researched about them and are genuinely concerned in helping to improve their product/whitepaper etc. That’s a sort of filter to get rid of the dumb money that’s just thrown into ICO’s for the sake of flipping and ensuring people take time to understand the concept before investing.
If i understand correctly , they will be issuing 1,000,0000,000 tokens - and at an approx price of $0.06 USD (would need to check on this again) . They sold 11 Mil in the pre-sale and only 19 Mil available in the main sale, coming up in November!
I’ll definitely be investing, hope you guys do too!
