The Advent of Quantum: reshaping classic technologies for a new era
The post-quantum era will offer amazing advancements for many different fields, but the risks are significant as well.
Even though the history of quantum technologies development has a deep history, true scientific breakthroughs only began during the 21 century. Today, the advancement of digital technologies is moving at an exponential pace faster than at any time in history. We are entering a new realm of hyper-powered tech where the previous prediction models no longer apply. While headlines regarding quantum computing are becoming more and more prevalent, it can’t change the fact that overall development of quantum technologies (Q-tech) is still in its infancy.
The threats may seem unreal so far, but it’s still present. For the digital asset market, the rising of Q-tech means total annihilation: the very day the first quantum computer will connect a cryptocurrency blockchain is coming. Therefore cryptocurrency market demands efficient solutions for protection to be implemented as soon as possible.
Companies and countries around the world are spending astronomical sums to win in the quantum race and while exciting developments are seemingly around the corner — we need to take a bit of a history tour in order to understand such a complex topic.
Quantum Ready
The scientific research into the smallest particles of existence began over a century ago and their impact on humanity has been significant. As the first atomic bomb exploded to herald the end of a world war, it also marked the actual start of the “quantum revolution”. The chain reaction at Hiroshima mirrored the concept, that complex but microscopic processes can produce massive macroscopic technologies and impact.
The next phase of the quantum revolution started with a wide range of quantum technologies being applied for humanity’s everyday use. Technologies like the magnet field orientation detectors in every modern smartphone, wideband wireless technologies such as WiFi and numerous other advancements to automate and make the lives of humans easier owe their existence to the original research done over a century ago.
The current state of development in the q-tech field is often described as “Quantum Ready” — a time in which humanity is as close as possible for quantum technologies widespread implementation in daily casual life. Quantum computing is considered a major disruptive force for future decades. From healthcare to navigation, Q-technologies will impact many aspects of people’s lives in ways we cannot yet imagine. It will address the explosion of digital data generated by Big Data and the Internet of Things, creating significant shifts and advances in machine learning and artificial intelligence.
A detailed look into the abyss of quantum future
While quantum computing is still years away from becoming a conventional and day-to-day technology, it is slowly but steadily growing in adoption. Facts can seem boring, but they indicate the reality better than any marketing headlines.
Recent statistical data indicates that North America’s share of the global quantum computing market in 2014 will reach 39%. Moreover, due to the latest research, the global quantum cryptography market size is expected to grow from $285.7 Million between 2017 to $943.7 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 27.0%. The major forces driving the growth of the quantum cryptography market include growing incidents of cyber-attacks and increasing data security and privacy concerns.
A recent report on the market called “Quantum Technology Market: Computing, Communications, Imaging, Security, Sensing, Modeling and Simulation 2019–2024” provides a comprehensive analysis of the quantum technology market, evaluates the impact of quantum technology upon other major technologies and solution areas including AI, Edge Computing, Blockchain, IoT, and Big Data Analytics.
We can outline a few vital conclusions from the report:
- The global quantum technology market is rising fast now, and it will reach nearly $18 billion in the course of 5 years — by 2024;
- Quantum computing will lead the market by 2024 with the highest market share ;
- Quantum communication market will grow with the highest CAGR during 2019–2024;
- Northern America’s share in this market will be the largest one, reaching 39%.
Despite the rising interest in quantum tech and its benefits in various fields worldwide, we are far from understanding how will it reshape existing technologies and human lives.
The Quantum puzzle
Even the most experienced quantum physicists can find the quantum tech field confusing and unusual, because of its potential to change even the most familiar ideas about truth and reality where standard measurements become meaningless and new ways of conceiving of reality are required.
The incredible potential of quantum technologies, means those who can master this technology first, will have a significant advantage over those who do not, and this applies to politics, finance, security, and many other areas. Global corporations like Amazon, Microsoft, and Intel are looking forward to introducing quantum cryptography, as they fear that hackers will try to get to quantum capabilities first and bring down the security systems of these companies and cause chaos on the global scale.
Modern cryptography is based on the principle of using a pair of keys to encrypt data, whether it is public or private. The most advanced systems can link together both public and private keys. Though it is possible to test trillions of keys in a second(an already impressive feat), the concepts have not yet been able to overcome the reality that the- current capabilities of computing are not sufficient to perform the large-scale calculations required for advanced research in space, healthcare, and technology.
A major breakthrough in processing power will open the door to advancements yet unseen or planned. While this advancement will be a cure for the pain that prevents the advancement of quantum computing, it will also create a new problem of nightmarish proportions. When reliable quantum computing schemes can be implemented, every aspect of the world’s security systems can be penetrated as easily as pushing a pen through a sheet of paper. The most reliable forms of traditional public-key cryptography will become vulnerable and useless. To put this in perspective, cryptography is used to secure and protect everything from nuclear weapons to the power grids and water systems that keep us alive. Our financial system would be vulnerable to massive attacks and our entire existence and way of life could be decimated.
Blockchain technologies have gained popularity due to their ability to protect transaction records because hacking a distributed ledger is incredibly difficult, but a post-quantum age would make hacking a blockchain trivial.
We need to understand what this means for the future and what incredible new (and sometimes frightening) scenarios that quantum technologies will create.
1)Faster than ever: an exponential increase in computational speed
Your standard laptop works on the same underlying technologies that are used in almost every conventional computer in the world today. Data is encoded in bits — 1 and 0 — which can exist only in two states. Quantum computing, on the other hand, uses “qubits” that can exist in virtually countless states at the same time!
Traditional computers can calculate billions of possible values for a specific sequence, but they must go through each combination of sequentially, which require significant time and memory. Quantum tech, on the other hand, can “see” the billions of sequences simultaneously, thereby significantly reduce time and computational costs. Moreover, quantum computers will be able to perform complex calculations in seconds that ordinary computers would take thousands of years to complete!
2) Unseen levels of security protection
Quantum technologies will provide the groundwork for the creation of nearly impenetrable cybersecurity shields as well as a means of ultra-secure data exchange over quite long distances.
In the quantum world, a phenomenon called “quantum entanglement” takes place. That is when two or more particles are connected in a mysterious way, regardless of the environment that exists between them, and without any recognizable signaling! Since there is no specific medium in which these two particles bind, signals encoded using entangled particles cannot be intercepted. The science necessary for this technology is not yet sufficiently developed. No doubt that progress in this direction will have a significant impact on private and national security worldwide.
The dramatically increased computational speed will also contribute to the development of higher levels of cybersecurity than previously known, because the exponentially large computational power of quantum computers will allow protection against the most sophisticated hacking methods using Quantum encryption.
“Quantum computing will certainly be applied wherever we use machine learning, cloud computing, data analysis,” stated Kevin Carran, a cybersecurity researcher at the University of Ulster. “In the security field, this means intrusion detection, data pattern search, and more complex forms of parallel computing.”
Quantum computers will be powerful enough to predict the “steps” of the most talented hackers in millions or billions of possible iterations!
3) Complex solutions for the post-quantum era
It is worth noting that creating a few tools will not change the whole picture. Crafting a complex platform or ecosystem for the projects of the post-quantum era is an entirely different task of its own complexity.
There are already successful examples in pursuing that goal and one of the most prominent is the QUUBE Project, which quantum cryptography solutions have been recognized by global-scale businesses and validated by multiple cooperation agreements. Moreover, last year researchers from QUUBE presented a quantum-safe blockchain trading platform that utilizes quantum key distribution.
The QUUBE Quantum Attack Resistant Exchange platform is a full-scale and complex blockchain ecosystem resistant to “quantum computing attacks.’’ The project will provide an unmatched and smoother experience for crypto trading and the STO launchpad will be a game-changer for startups seeking to raise funds without the security concerns that might make investors resistant to these types of investments.
4) Arming hackers with quantum computational power
Since the beginning of men battling each other for land, valuables, and other possessions, we know that when somebody is making a stronger armor, someone else is crafting a sharper knife to penetrate it. This struggle between offense and defense has resulted in ever better tools.
Modern cryptographic methods are mostly based on extremely complex mathematical problems and although these obstacles are enough to hold back most binary supercomputers, a quantum computer can easily get around them. The ability of a quantum computer to find patterns in gigantic data sets at tremendous speeds will allow performing calculations with huge numbers, while ordinary computers will iterate over them one at a time. With qubits and a quantum superposition, all possible options would be checked simultaneously.
For example, it took years for hundreds of conventional computers working simultaneously to crack a single example of the RSA-768 algorithm, which had two main factor numbers and required a key seven hundred sixty-eight bits long. A quantum computer can complete this task in a few seconds!
5) Financial markets: higher stakes
In an intricate and interwoven world of global finance, speed is paramount. For now, many large-scale problems faced by this industry can be solved when computing speed reaches higher points. Detailed and accurate forecasts for financial and economic events, pricing in a rapidly changing market, and much more will be available soon.
For example, many options require complex derivatives depending on various factors, which means that the payment is ultimately determined by changing the price of the underlying asset. Trying to display and foresee all the possible “paths” of an opportunity is too complicated for modern computers. However, taking into account quantum computing capabilities, predicting and identifying the wrong price option for stock and using it for the benefit of its owner before the market takes any significant shifts could provide a never before seen edge in the markets.
This kind of power could, of course, harm the market and greatly enhance the position of companies that own and operate a quantum computer at the expense of individual traders and small companies that are unable to acquire such technologies.
Q-driven future
Quantum technologies, computing, and cryptography have seen significant growth in media coverage because of the negative and positive potential for the technology. Every year brings more vital bricks in building a foundation that will provide an entirely new level of technology for the whole of humanity.
The QUUBE Exchange project is spearheading the market by creating something more than just a tool or a project, but instead is creating a complex ecosystem designed to be prepared to handle the significant issues of tomorrow. The project’s mission is to secure the future of the crypto market at large while offering the best options for launching blockchain-based projects globally.
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