Beam BEAM to Quantstamp QSP Exchange

Crypto Pair Details: BEAM to QSP

Beam BEAM

Beam Mimblewimble is a scalable, fungible, and confidential cryptocurrency based on the Mimblewimble implementation. WHY BEAM? Core features include complete control over your privacy, All transactions are private by default, No addresses or other private information are stored on the blockchain, Superior scalability due to compact blockchain size, Opt-in Auditability, Support online and offline transactions, atomic swap, hardware wallets integration. Governance model No premine, No ICO. Backed by Treasury Establishing a non-profit foundation to govern the protocol after Mainnet launch How does it work? Wallets’ owners create new transaction using secure channel either online or offline Both wallets participate in signing the transaction using Schnorr protocol Wallet sends transaction to node Each transaction contains a list of Inputs and Outputs represented by Pedersen Commitments, as well as explicit fees and kernels. Each transaction also contains non-interactive zero knowledge range proof to verify that the output transaction value is positive Transaction is verified by the node Each transaction is verified with respect to the recent blockchain state which is stored as a Merkle Tree. The root hash of the tree is recorded in block header along with a proof of work. In addition, each node periodically creates compacted history to allow ‘fast sync’ of new and existing nodes. Transaction is added to the mining pool A block is mined every minute and is sent back to the node for verification and distribution. Mined blocks containing the new transactions are sent to the known peers A valid block that is extending the longest chain is accepted as a new Tip and propagated further until full consensus is reached. Fast sync When a new node connects to the network for the first time it can request compacted history containing only system state and blockchain headers. There is no need to retrieve the entire transaction history.

Quantstamp QSP

Quantstamp is a security-auditing protocol for smart contracts. As a apps platform, Ethereum has proven its security time and again. However, apps and smart contracts on top of Ethereum may still have bugs in which malicious players can cause havoc on the network. The two most notable examples of these being the $55 million DAO hack and the $30 million Parity wallet bug. These issues not only affect the people who’ve had their funds stolen, but they also diminish the credibility of the entire ecosystem. Quantstamp is making smart contracts more secure through automated software testing and a system of bug bounties. Although starting with Ethereum, the team is building the protocol to be available on any DApp platform in the long run.In an industry where security is a primary concern and bugs have caused the theft of millions of dollars, Quantstamp should help to legitimize blockchain projects and ensure that large-scale smart contract hacks are a thing of the past. Quantstamp held a successful ICO in November 2017 in which the team raised a little over $30 million dollars. They distributed 650 million (65%) QSP out of the 1 billion total supply to ICO participants at a price of $0.072 per token. After the usual post-ICO volatility, the QSP price stabilized at around $0.10 (~0.000005 BTC) through the end of November. The price followed the trend of the altcoin market and rose rapidly to an all-time high of $0.82 (~0.000051 BTC) before slowly falling to its current price of ~$0.286. The QSP price weathered the beginning of the year market downfall better than most other altcoins.

SOURCE: COINGECKO

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