Blockchain Firm Quantstamp Completes Security Audit Of ETHDenver’s BuffiDai Token

Blockchain, News | February 7, 2019 By:

Blockchain security firm Quantstamp has completed the audit of blockchain startup MakerDAO’s buffiDai token.

BuffiDai is a proof-of-concept cryptocurrency developed in collaboration with Austin Griffith, Brian Ethier, POA Network, Solidcoin, SendWyre, and Quantstamp, coordinated through the MakerDAO Community Grants Program. It is designed to act as a localcoin at ETHDenver, a hackathon taking place from February 15-17 in Denver, Colorado that incentivizes the ethereum developer community to share knowledge and continue building towards a decentralized future.

The token will reportedly enable an “ephemeral economy, a transitional economy that only exists for the duration of ETHDenver.” It will 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.

Quantstamp, which develops decentralized and security protocols, and audits blockchain applications, said that it is grateful to help launch the ETHDenver initiative and looks forward to continuing to secure the underlying buffiDai smart contracts as the project develops.

“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.”

“At ETHDenver, we plan to help people go from crypto-curious to active participant in an ephemeral economy in seconds with zero friction,” said 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.”