Weekly Q&A — w. 1
Every Saturday, the Quantum1Net team will compile a list of questions that have been processed by our customer relations team during the week to let the community stay informed and up to date with the progress of the project and the ICO.
Q: Do you guys have any actual data or research to show yet, or is that something that will be developed if you get funding?
A: The team has already made significant headway into quantum randomization which will form the cornerstone in our quantum key generation. On page. 9, 10 and 11 in the yellow paper, you will find interesting info behind the research and our prototype; https://quantum1net.com/Q1N%20yellow%20paper.pdf
More explanatory papers are to be released within the coming days, follow us on any of our social media channels so you can stay up to date!
With that said, while there is still much to be done, the science behind our product is sound and tested. We have a working prototype!
Q: What makes your project different? What do you do to protect users?
A: With the introduction of quantum computers, the deterrent presented by RSA and other protocols will cease to be enough to stop hackers, as hacking them will become a worthwhile endeavor.
Generally speaking, encryption techniques today rely on hacking them not being worth the time and resources required. Integer factorisation of very large numbers is a very costly task. Because of this, many encryption methods are based on this task. Quantum computers with enough qubits will be able to perform the required operations much more efficiently and much faster, in hours or days.
Quantum1Net instead relies on a encryption based on random numbers generated by a Quantum Encryption Key Generator (QEKG). Because of the quantum properties of the device itself, tests have shown that even in large samples, the numbers selected follow no pattern thus no predictive algorithm can be derived.
Q: Quantum computing is really the future. However it’s a really complex matter, you guys better have people who get how it works before starting working with it.
A: Indeed, quantum computing is extremely interesting and will definitely play a big role in the near future. What sets us apart from most ICOs is the experience of our team leadership and the level of development already achieved. We have developed a prototype capable of generating a quantum encryption key, utilizing a one qubit optical device capable of generating perfect randomized sequences.
Our leadership team has a huge list of successful business ventures on their track-record, we are confident that the skill of our scientists will not be hampered by mismanagement or bad management.
Q: I saw there are bonuses in each period of the ICO and I think it is good incentive to invest, but when will we receive these bonuses? Will it be immediately?
A: Yes, you will receive the tokens + bonus in the designated wallet upon your investment.
Q: In the ICO, can I invest in BTC or is it ETH only?
A: The ICO starts the 2nd February, about one month from now. The initial Silver Token will trade for ETH only. The closed Gold Token offering will accept more currencies, Silver Tokens and BTC included. Silver token investors/holders will be prioritized during this second ICO.
Q: I downloaded the white paper and yellow paper. Is yellow paper something like a research document? Also, is the white paper to aid in understanding the project?
A: You are on the right track there. The white paper is a presentation of the project and the yellow paper is a technical document explaining the tech behind the prototype and project!
Q: I’ve read that you will only accept ETH in the pre-ICO. Is it safe to assume tokens will be distributed immediately by the smart contract?
A: The tokens will be distributed immediately by a smart contract!
Q: When will the crowdsale start, this month? Do you have partnerships yet?
A: The ICO starts on the 2nd of February. We do have some partnerships but they are yet to be announced.
Q: Will there be any special conditions for early investors?
A: If you would like any pre-ICO information, please send an e-mail to firstname.lastname@example.org. Other than that there is a -20% Discount in week One of the ICO (Feb 2 — Feb 9).
Q: Why do you use the Ethereum blockchain for the Silver Token and later a Gold Token based on Bitcoin? Why don’t you also use Bitcoin features for the Silver Token?
A: The contract possibilities in Bitcoin are not as developed as for Ethereum and to protect the investor token holder we want to provide them with the best convertible token possible. We believe that the procedure of a ‘convertible token’ that leads the utility Token or Coin will be used more and more in the future, just as it has been used in traditional startup investments to create security for the investors.
Given that our project revolves around the vulnerability of conventional cryptography against quantum computing, the Gold Token is based on Bitcoin and features quantum encryption, making it both a testament to the feasibility of our technology and proof of safety against quantum powered attacks.
So what is a convertible token? Just as a convertible note. You can read more about convertible notes on the following links:
Q: I was having a look to your project. I read the white paper, which has a lot of information. I saw there is a yellow paper too. What information is in the yellow paper?
A: A White paper is a presentation of a problem and the solution. It is intended to basically to highlight the features of the solution, product and service. Easily said, it is a project/product presentation. In contrast, a yellow paper is a more formal approach to the technical specification of the project. Easily said, a technical specification of the project/product.
Many ICO-projects have a very shallow white paper, not really specifying anything else than vaporware. For us it is important to be as transparent as possible with our investors (hence the white paper+yellow paper) as we have a finished working prototype.
Q: In your road-map, I can see that the Gold token will include quantum encryption. Would it be safe to assume you’re going to be implementing the technology you’re talking about on this token?
A: Yes that is correct. The quantum encryption will be implemented on the gold token!
Quantum1Net is developing the means to keep the digital world quantum-safe for years to come. Founded in 2017, Quantum1Net combines decades of industry experience with cutting edge technology to create quantum-secure encryption services. Starting with making Bitcoin safe from quantum hacking, Quantum1Net will roll out a wide range of novel products to protect digital transactions and communications from quantum hackers.