QAN, the world’s first quantum-resistant smart contract platform, is pleased to announce the publication of a new technical paper. The paper explains in detail the mathematics and cryptography underlying the QAN blockchain platform. The release of the technical paper is timed to coincide with the opening of the IEO Launchpad with QAN on the BitBay exchange, ahead of an initial exchange offering in January.
In September, QAN published its white paper, which outlined the company’s plans to build a first-of-its-kind, quantum-resistant blockchain. Current smart contract platforms such as Ethereum or EOS use variants of cryptography that are resistant to brute-force attacks using current computing standards but will be vulnerable to attacks by quantum machines. Earlier this year, Google reported it had achieved quantum supremacy using its Sycamore processor, meaning the quantum threat is expected to materialize sooner rather than later.
Unlike other blockchains that will need to undergo significant upgrades if they are to resist quantum attacks, QAN is building quantum resistance into its platform from the outset. The company is achieving this by deploying quantum-proof digital signatures based on lattice cryptography.
The technical paper, published today, breaks down the precise modeling used to enable QAN’s quantum-resistance. Given that QAN is aiming to appeal to an enterprise user base as well as individuals, the technical paper illustrates the project’s commitment to transparency in how it intends to achieve its goals.
Speaking of the technical paper publication, Johann Polecsak, QAN’s Chief Technology Officer, stated:
“We are truly building the future here, and love to build the technology which will boldly transform us. There is a huge market whose participants are not even aware yet, and great things happen when one is lucky enough to be part of that moment.
Building and launching an industry-ready, secure-by-design blockchain platform is this very moment, and I am really proud of our team and product!”
QAN will launch the token sale for its QARK token as the first initial exchange offering (IEO) to be held on the BitBay exchange. The sale will commence on January 20. Prior to the sale, BitBay opened the IEOLaunchpad on December 16. The IEO Launchpad contains all relevant documentation about QAN, enabling would-be investors to undertake their own detailed due diligence prior to purchasing QARK tokens.
Besides quantum resistance, QAN offers various other features not available on current smart contract platforms. Transaction fees, although payable in QARK tokens, will have their values fixed in fiat currency, enabling enterprises using the platform to make accurate forecasts of their running costs.
The platform is also designed to be scalable, achieving a throughput of up to 1600 transactions per second. Furthermore, smart contract developers can create applications on QAN using a variety of programming languages, making the platform accessible to a wide pool of talent.