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Quantstamp Enhances Security of ETHDenver’s Ephemeral Economy

Quantstamp, a blockchain security company, assisted MakerDAO, Austin Griffith, and Brian Ethier in auditing the buffiDai token which will be used at ETHDenver 2019. BuffiDai is a proof-of-concept cryptocurrency that is designed to act as a localcoin which will drive the ETHDenver economy, create a frictionless user experience for attendants, and serve as an experiment meant to improve future implementations. ETHDenver is a hackathon taking place from February 15th – 17th in Denver, Colorado that incentivizes the Ethereum developer community to share knowledge and continue building towards a decentralized future.

Quantstamp is grateful to help launch this initiative and looks forward to continuing to secure the underlying buffiDai smart contracts as the projectdevelops.

“Here at Quantstamp, our mission is to advance the mainstream adoption of smart contracts and blockchain applications by providing state-of-the-art security services,” says Quantstamp CEO Richard Ma. “We are thrilled to enhance the security of ETHDenver’s economy by contributing to the pop-up economy experiment.”

Quantstamp is a blockchain security company that develops decentralized and QSP-fueled security protocols, audits blockchain applications, and provides services to projects and enterprise clients. Blockchain companies trust Quantstamp to audit essential community projects such as OmiseGO’s Plasma MVP and Chainlink’s oracle network.

The buffiDai project is unique in that it enables an ephemeral economy, a transitional economy that only exists for the duration of ETHDenver. By selling food, swag, drinks, NFTs, and other goods exclusively in buffiDai, ETHDenver’s organizers aim to invigorate the event’s economy and enhance the social experience of attendants by incentivizing them to spend and trade buffiDai inside the event.

Another key motivation for developing buffiDai is to enhance the ease of use of cryptocurrency technology. An emerging narrative in the cryptocurrency space is that the lack of user-friendliness is a barrier to user adoption. In order to develop user-friendly crypto solutions, buffiDai intends to create a frictionless onramp and onboarding experience for users.

BuffiDai was produced in collaboration with Austin GriffithBrian EthierPOA NetworkSolidcoinSendWyreQuantstamp, and ETHDenver, coordinated through the MakerDAO Community Grants Program.

“At ETHDenver, we plan to help people go from crypto-curious to active participant in an ephemeral economy in seconds with zero friction,” says Richard Brown, Head of Community Development at MakerDAO. “We chose Quantstamp because we know they hold themselves and their peers to the highest security standards. We look forward to engaging with them again on future projects.”

Mia Turner

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