Quillhash Technologies: Providing True Blockchain Experience through Problem-Centric Business Solutions
Co-Founder & CEO
Ever since the mysterious Satoshi Nakamoto created the ground-breaking Bitcoin currency, blockchain technology has come a long way. Though blockchain was mostly recognized for its cryptocurrency applications at first, businesses soon began to see beyond this and today, blockchain technology has use-cases across the business functions ranging from supply chain management to Payroll and transaction management and Smart Contracts.
However, Businesses looking forward to using blockchain are prone to run into issues if they are not careful, since incorporating it into a business may necessitate altering existing processes. For this reason, Quillhash Technologies Pvt. Ltd – a blockchain solutions studio – specifically caters to those problematic areas through extensive research and its experience of developing products and services based on blockchain. Quillhash excels in delivering a consistent security-based approach with ample in-house auditing resources and experience.
It is well known for aiding clients in overcoming both vulnerability and severity problems with smart contracts. Not only has it audited smart contracts for clients globally, but also has opened up to help them in the event of potential inconsistencies, helping clients feel ease. Preetam Rao, the co-founder & CEO of Quillhash Technologies, leads CIO Insider into Quillhash’s digital universe.
In conversation with Preetam Rao, Co-Founder & CEO, Quillhash Technologies
What are your target segments and how is Quillhash helping the market transit to the world of blockchain? What is your USP as an organization?
In recent years, we have witnessed tremendous growth in the adoption of blockchain technology. The concept of smart contracts and tokenization has enabled people to conduct business and provide solutions in many innovative ways. Year 2020 witnessed an explosive growth in the DeFi space, with its estimated value reaching more than $13 Bn globally and attracting a massive number of users and investors alike. Even though blockchain technology is widely considered as secure, the smart contracts running on them are vulnerable to bugs and exploits. Hackers have been able to steal millions of dollars by exploiting such vulnerabilities.
Quillhash Technologies is enabling small and medium sized organizations in DeFi and NFT space by enhancing the security of their platforms. A smart contract security audit not only helps to fix any vulnerabilities, but also enables these platforms to become more trusted by their users.
Our solution QuillAudits consists of a team of ex-pert auditors and specialized testing tools. We have built a reputation as one of the leading providers of smart contracts auditing services, where our highly dedicated team works closely with our clients, by understanding their requirements and ensuring their audit process is completed smoothly and on time. Our auditing capabilities are best and recognized across the industry which enables our clients to meet any compliance they need, whether it is for a token launch, exchange listing or attracting Investors.
One of the novel features that we are planning for QuillAudits is embedding it with our in-house monitoring tool, QuillMonitor
Could you provide elaborate details on your flagship product QuillAudits?
QuillAudits is a complete solution for smart contracts security audit. Whether it is a basic ERC20 smart con-tract or a complex DeFi & NFT platform, we offer capabilities to audit most types of smart contracts. We employ the best auditing approaches, with Manual Review of the code by an expert team of auditors and use of specialized testing tools for automated analysis which uses penetration testing to quickly find any vulnerabilities.
Our process ensures that a smart contract’s specifications are checked, so that it performs in the intended way once it is deployed. The process also involves checking the code for any improvements that can make it more efficient and reduce the related transaction costs. QuillAudits is keen on delivering timely and quality results, our audit report is ensured to be very professional. So far, we have successfully completed more than hundred audits and have been highly praised by our clients for the quality of our service.
What are the problems QuillAudits solves for its customers? How does it satisfy the diverse range of audit requirements?
QuillAudits is helping our customers in achieving crucial goals related to their success. Our auditing solutions are simply not limited to making the smart contracts secure, but they also help our customers instil trust in their own users. The risk of losing valuable assets and data due to a failed smart contract limits many people from utilizing and participating in it.
Moreover, if you look at most of the reputed ex-changes and investors in the blockchain DeFi and NFT space, most of them now need a security audit and certificate as a compliance. We enable our customers to guarantee the security of their platform on their behalf. Most of our customers go for successful ICO, IDO launch and making strategic partnerships after getting the security audit completed.
We have built capabilities to address all types of audit requirements. We can audit smart contracts written for most popular blockchains like Ethereum, Binance Smart chain, matic, solana, EOS. Our audit team can work with the most simple to the most com-plex of the smart contracts, offer both full security audit after development and interim audit during development of the project.
Shed light on the capabilities of your other blockchain stack products.
Our other major products include QuillTrace, Token-ic, dNFT and QuillPlay.
QuillTrace utilizes blockchain technology to make supply chains more secure and transparent. It can be easily integrated with existing processes and help with real time tracking, digital verification of documents and assets and automated transactions all using a distributed ledger and peer to peer network.
Tokenic helps with tokenization of physical and digital assets such as art, real estate and IP rights for better investment, opacity, and liquidation and targeting the global economy. and dNFTs is an open-source free standard that allows for distributed ownership of NFTs in real life applications. QuillPlay is a Smart-Contract-as-a-Service platform that helps to create, deploy, audit and monitor smart contracts.
Enlighten us about the impact of your implementation with an inspiring case study.
One such case was with Oxycoin (OXY – a cryptocurrency token) team, which requested to review and audit their new token code. Firstly, we performed a comprehensive audit and then classified the severities into three classes – as high, medium and low, wherein high meant the issue of integer overflow & underflow, and arguments check. Medium revealed short address attack, while low exposed issues with solidity versions. This was followed by a preparation of checklist for all audit reports, and we found very severe security issues. We then recommended various changes to mitigate the potential risks.
What’s Quillhash’s future roadmap?
One of the novel features that we are planning for QuillAudits is embedding it with our in-house monitoring tool, QuillMonitor. It will help various stake-holders to monitor their smart contract for each and every event of smart contract. We are also launching QuillRelay, a cloud-based smart contract auditing platform, wherein developers can get audit reports with smart contracts input.