One of the first reviews of the Polkadot blockchain-related decentralized financing (DOT) project is that it is being implemented by the blockchain security firm Quantstamp.
As part of the Equilibrium project, plans were announced for the first time this summer to develop an interoperability protocol on Polkadot. To move to Polkadot, the project has developed new products for the decentralized money market via chains, such as compatible stacking coins, synthetic asset platform, and decentralized exchange.
Equilibrium confirms that Quantstamp security audits will be more comprehensive than typical audits, which focus only on finding errors in smart contracts. This is because Polkadot provides projects like Equilibrium with a modular architecture called Polkadot Substrate that they can use to launch a dedicated standalone blockchain that will later connect to Polkadot like Parachain. Instead of renegotiating smart contracts that operate in an isolated environment, Quantstamp will need to rethink all essential components of Equilibirum.
The scope of Quantstamp rework will cover the code that governs “blockchain balancing action logic, its risk and pricing modules, and“ rescue mechanisms, ”Equilibrium explains. The project’s developers have identified several key custom components and innovations that they feel require special attention, such as the use of electronic signatures. For off-chain middlemen and condition clause balance audit efforts are as follows:
Quantitative supervision plays a major role in ensuring the quality of balance processes. The main reason is that you are setting blockchain execution time when creating on Substrate. If the bug affects a portion of the substrate logic, then the blockchain as a whole might stop. ”
As previously reported, Quantstamp was the auditor for Binance’s first stable coin and was actively working on identifying major issues with the losing DeFi SushiSwap protocol. In his comments at the Unitize digital conference this summer, Ma stressed that security remains an important problem that must be addressed within the DeFi ecosystem.