Radar Relay + Quantstamp

Richard Ma Blocked Unblock Follow Following Nov 19, 2017

Do you remember the first time you bought something online with your credit card? You might have been a little paranoid like myself. At the time, it was hard to tell how secure your personal information was when sending it over this new protocol called the internet.

In response to this risk and uncertainty, Verisign Inc. developed reliable end-to-end encryption to protect your data. More importantly, it made users feel confident that their information was secure by placing a SSL certificate in the domain of the websites they were visiting. This innovation created the consumer confidence necessary to facilitate the internet shopping culture we see today.

The risk and uncertainty associated with early internet use is very similar to the situation Ethereum finds itself in today. Like Verisign Inc., Radar Relay and Quantstamp are both tackling two critical issues getting in the way of mainstream adoption — usability and security.

Radar Relay helps users overcome usability and security issues that plague centralized exchanges. These exchanges require users to deposit their funds into them in order to trade. This creates a single point of failure, putting user funds at risk to various bad actors. Between 2011 and 2014, $473 million worth of crypto was stolen from Mt. Gox and in August 2016, $66 million was stolen from Bitfinex.

Centralized exchanges can also restrict how a user participates on the platform if users do not submit identifying documents. Radar Relay solves these issues by facilitating peer-to-peer transactions over the 0x network. Users aren’t required to trust Radar Relay with any of their information or funds in order to trade. There are no user accounts and users trade directly from their own wallets. Radar Relay never holds your cryptocurrency; they just facilitate the transaction.

At Quantstamp, we are enhancing the usability and security of Ethereum by developing a smart contract auditing protocol that is both trustless and scalable. While blockchain transactions are transparent, the quality of smart contract code is not. The DAO and now the Parity hacks are perfect examples of how vulnerable smart contracts currently are. By providing developers with the opportunity to correct bugs before they publish smart contracts on the blockchain, Quantstamp is building confidence in users who interact with those contracts.

Quantstamp and Radar Relay will also be heavily collaborating with one another. Quantstamp will be recommending that Radar Relay list protocols that they have audited and Radar Relay will be recommending that Quantstamp audit tokens that they plan to list.

The public blockchain movement was originally inspired by the idea that we could increase value for the end user by taking the intermediary out of the equation. By resolving security and usability issues with the Ethereum blockchain, Radar Relay and Quantstamp are improving the blockchain ecosystem to drive even more value to you, the end user. We encourage other projects to also join us in this mission to discover new and innovative ways to build a decentralized and trustless society.

Click here to learn more about Radar Relay.

Click here to learn more about Quantstamp.