Overview

Quantstamp provides security audits for smart contracts in the blockchain and cryptocurrency market. Their main service involves conducting detailed audits to find and fix vulnerabilities in smart contracts, which are contracts written in code that execute automatically. Quantstamp uses a decentralized network of security nodes that contribute computing power for security scans, allowing them to offer fast and affordable services. They have completed over 600 audits, securing more than $200 billion in digital assets for various clients, including blockchain projects, gaming companies, NFT platforms, and DeFi protocols. Unlike many competitors, Quantstamp's unique decentralized approach not only enhances the speed and reliability of their audits but also allows them to incentivize node operators with mining fees. The company's goal is to protect digital assets and ensure the integrity of smart contracts, making them a trusted partner in the blockchain security space.

Simplify's Take

What believers are saying

• Increased demand for audits due to rise of modular blockchain networks.
• Growing interest in DeFi platforms boosts need for security audits.
• Investment in Web3 security firms indicates a growing market for Quantstamp.

What critics are saying

• Emerging competition from blockchain security firms like Hypernative.
• Pressure to adapt to new standards like Circle's Modular Wallets.
• Need to expand audit services for evolving DeFi platforms.

What makes Quantstamp unique

• Quantstamp specializes in security audits for smart contracts in blockchain.
• They leverage a decentralized network of security nodes for efficient audits.
• Quantstamp has secured over $200 billion in digital assets across 15 countries.

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Funding

Total Funding

$120k

Below

Industry Average

Funded Over

1 Rounds

Notable Investors:

Y Combinator

Notable Investors:

Y Combinator

$120,000

Seed

Jan 2018

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.

Seed Funding Comparison

Below Average

Industry standards

Ind Avg. $3.3M

$120k

$500k

$1.5M

$2M

$2.3M

$3M