Quantstamp and Modular Inc. Kick Off Smart Contract Security Alliance to Bring Security Standards to the Blockchain Industry | Consumer


SAN FRANCISCO, Aug. 8, 2018 /PRNewswire/ — Quantstamp is proud to announce that it is forming the Smart Contract Security Alliance alongside Modular Inc. to bring security standards to the blockchain space. The Smart Contract Security Alliance’s core mission is to support healthy adoption of blockchain applications through encouraging and facilitating secure smart contract development.

The goals of the Smart Contract Security Alliance are to:

Establish industry best practices for smart contract security auditingPromote secure smart contract development and ecosystem growthEducate smart contract security audit customersIncrease the level of professionalism, and promote research in smart contract security auditingImprove accountability, interoperability, and credibility of all industry participants

We invite other members of the industry to join us on this journey to improve the security of the blockchain industry.

“Developing a set of common standards for smart contract security audits will increase the level of professionalism in the auditing industry while allowing customers to have a better understanding of what they are buying,” said Richard Ma, CEO of Quantstamp. “We believe the standardization of security evaluations will facilitate compatibility, accountability, interoperability, research, and credibility for all industry participants.”

“By working with Quantstamp to form this alliance, we aim to push the level of smart contract security forward, increasing consumer confidence in blockchain technology,” said Christopher Brown, CEO of Modular. “Companies who join our alliance will not only have a voice in developing standards that will shape the face of blockchain technology and applications for years to come, but will also benefit from joining a group at the forefront of smart contract security auditing research and best practices.”

Security challenges are a major roadblock on the path to mainstream adoption of blockchain technology. By forming the Smart Contract Security Alliance with Modular, and in collaboration with the ETHSecurity Community, Quantstamp aims to encourage the growth of a healthy blockchain ecosystem and the proliferation of secure blockchain applications.

“Standards will benefit companies, developers, and auditors across the board, giving everyone a common platform, language, and language around security,” noted Robbie Bent, co-organizer of ETHSecurity.

We invite security companies interested in pushing forward the standard of blockchain technology to join the Smart Contract Security Alliance and meet regularly with us to discuss the future of blockchain security. If you’re a smart contract developer or company using blockchain technology, we also welcome your input.