QuantStamp Defends Dollar And Ether Payments, Say They Were Accepted Out Of Necessity


Quantstamp responded in a statement to accusations from its community members last Thursday. Community members said Quantstamp tried to undermine their token.

For at least a week, token holders have been accusing the firm of misleading them by accepting US dollars and ETH as payment, rather than its QSP token for its auditing services.

According to published material from the firm, customers are to use the QSP token to pay for, receive and improve verification services in the Quantstamp network.

Quantstamp said that the issue stems from a lack of clarification about the difference between its products. The company admitted that they need to do better in explaining the differences in its products.

The products in question are an auditing protocol that the firm outlined in its white paper and which is still in development. The other product is a “web product” currently used for audits.

The company stated that:

“The Quantstamp web product is separate from our protocol that adheres to the vision outlined in our white paper and is still under development.”

Quantstamp also stated that:

“While Quantstamp has accepted QSP, USD, and Ether, the latter two are only accepted for our current offerings and out of the client and customer necessity, as not everyone is currently capable of acquiring and using our token.”

Quantstamp community members also had concerns over the firm’s use of open-source technology in the 489 audits it claims to have finished to date.

In a statement to crypto-focused website Coindesk.com, Quantstamp said it uses a combination of “proprietary and open-source software” in its web product “with the sole purpose of increasing accessibility for non-technical users.”

Quantstamp CTO Steven Stewart also tried to clear up investor confusion by taking to Medium.com and stating:

“The web product is a proof-of-concept user-interface for requesting security audits of smart contracts and viewing descriptive reports. … that permits small payments of QSP. Under the hood, the web product is intended to include and build upon smart contract analyzers such as Oyente (an open-source tool).”

According to Stewart’s post, Quantstamp intends to connect their web product with the next version of their protocol by the end of August.

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