Post-quantum era is coming
The future challenges of blockchain tech
The modern world is changing rapidly. The cinema vision of the future no longer restricts. Emerging technologies paved the way to yet unbelievable developments, which existed inside a fantasy author’s imagination only decades ago. New possibilities come with threats yet unseen. What does technological advancement bring to us?
Advantage becomes a threat
The era of computers commenced less than 80 years ago, and nowadays almost every family has several compact devices with processors that are much faster than the first multi-stage computing machines!
Those devices are linked building local and global networks, showing unbelievable abilities of data collection and processing, reaching earlier inaccessible comfort level for users. In 1965 co-founder of Intel, Gordon Moore observed that computer capacity had doubled every two years — such interesting dependency was called “Moore’s Law”. The law has been followed up to 2011 inside the traditional computer industry being somehow a dominant technical task for all market participants. Back then, computer production industry faced the problem of physical limits: synchronous operation of processors with a large number of transistors could not be guaranteed. Extensive way of development allowed “Moore’s Law” to be applied 7 more years: processor cores number had increased. But this way also came to an end — synchronization between cores leads to efficiency losses that increase more rapidly than multi-core processors capacity. Several years ago it became clear that “Moore’s Law” would face physical limits of traditional computer architectures.
New tech arms race begins
The largest computer companies entered a race looking for a new architecture that might allow continuing “Moore’s Law” further, and the quantum computers became mainstream in this direction. The idea of a quantum computer was suggested by Yuri Manin in 1980, and the first model had been worked out by Richard Feynman in 1981. By the beginning of the XXI century software industry was ready for quantum computer implementation. Right there, programming languages for the first programs depicting unbelievable abilities of quantum computers were developed. Thus, new millennium began, and the world had met the first quantum computer “not theoretically but in a metal case”. It was not so fast, with low capacity but the real one.
New Millenium marked a new breakthrough — at the beginning of 2001, the quantum computer performed the Shor’s algorithm the first time. The appearance of such a machine announced the start of the quantum era. Nowadays, quantum computers have already caught up the best models of traditional computers from the point of capacity, but “Moore’s Law” is implacable. Over the coming years, quantum computers are expected to overrun traditional ones substantially by their capacity.
Microsoft has added quantum computing programming language into the standard package of Visual Studio while tens of companies opened access to their quantum computers for the network. What is the result of quantum computers implementation for the blockchain industry and cryptocurrency market?
A quantum computer appearing implies two damaging blows to the cryptocurrency market and blockchain industry:
- 51% attack. One quantum computer of potentially huge capacity, connected to the blockchain is able to perform 51% attack successfully. As a result, a quantum computer operator gets control over blockchain and may prevent new transactions from gaining confirmation inside a particular blockchain.
- Encryption algorithms attack. Traditional encryption algorithms are vulnerable to quantum computing. Encryption methods, which are authorized by states and are used in cryptocurrency, crypto wallets and cryptocurrency exchanges algorithms, may be easily cracked by quantum computers. All the “hot wallets” and all cryptocurrency exchanges (that are equal to “hot wallets” by quantum computers) could be hacked using Shore and Grover algorithms. Moreover, assets from those wallets could be transferred anywhere a quantum computer operator desires.
Where is the problem - there is a solution
The day when the first quantum computer will connect a cryptocurrency blockchain is coming; therefore cryptocurrency market demands protection of two indicated threats.
The objective of QUUBE Exchange project is creating a new quantum-resistant ecosystem focused on the security token market, high speed, super protected trading space, and communication channels. The first testing version of quantum blockchain was launched by our team in 2018. Quantum blockchain is kept on quantum computers, therefore, a risk of a mentioned before 51% attack is almost impossible like for traditional blockchain in traditional computer networks. This is our response to the first threat. Quantum blockchain use methods that are stable to quantum computing and even post-quantum encryption methods and this is our response to the second threat. Moreover, our team worked out software for cryptocurrency exchanges and crypto wallets operating with the blockchain recording trading logs and balances. QUUBE exchange is ready to accelerate assets trading processes by creating Security Token Market and Launchpad dedicated to the different types of securities. This technology instantly may be applied for the Global Notes creation and tokenization, preferably for the REG S type of corporate stocks and bonds. Our team succeeded to implement the first quantum-safe ecosystem and security token Launchpad with the exchange platform allowing STO/ICO projects to fundraise rapidly amongst accredited and non-accredited investors. QUUBE is a unique fundraising engine facilitating asset tokenization and investors relation.
Transformation of the digital economy market is coming, and the time is running up. Utilizing QUUBE-like solutions is the only real option for survival in current market conditions. Follow us, subscribe and join the global community not to miss the next exciting articles!
Join QUUBE Exchange on networks:
🌐 Website https://quube.exchange
✉️ Telegram Group
🗣 Steem https://steemit.com/@quube-exchange
📸 LinkedIn https://www.linkedin.com/company/quubesecurityexchange
👤 Facebook https://facebook.com/QuubeQuantum
https://instagram.com/quube_exchange
🐥 Twitter https://twitter.com/quube_exchange
⭕️ Medium https://medium.com/@quube_exchange_m
⚙️ GitHub https://github.com/Quube-Exchange-2019
🅱️ Bitcointalk
