"Advances in technology are the biggest risk for Bitcoin. Specifically the advent of quantum computing, which could break current cryptography." Peter Kazacos OAM founder of KAZ the technology partner of QA
Cryptography of common chain protocols like Bitcoin have vulnerabilities.
Digital assets rely on cryptography to operate
Digital assets rely on cryptographic methods to maintain security and trust. Cryptography in digital assets is used for multiple purposes: it is used for the creation and destruction of assets, securing transactions, and for the verification of the transfer of digital assets.
Keys are the most important aspect of cryptography
Cryptography is the mathematical and computational practice of encoding and decoding data. Encryption keys are the most important aspect of cryptography. The strength of any encryption protocol is primarily dependent upon the cryptographic keys.
Keys that are not truly random have vulnerabilities
Generation of cryptographic keys requires the input of random numbers, several computational methods for pseudorandom number generation exist; all fall short of the goal of true randomness. They are ultimately deterministic, algorithm based and are vulnerable to hacks particularly with the development of quantum computers (which will have the ability to determine patterns in combinations and speeds not currently possible on standard computer systems).
Quantum technology can produce truly random secure keys
Quantum technology can be used to produce truly random keys. Quantum phenomena which are totally unpredictable and entirely random are the key to producing cryptographic keys which are theoretically completely secure. If something is truly random it follows that it cannot be reverse engineered and is theoretically impossible to breach.
Quantum phenomena used to produce a new class of quantum keys
We use true quantum technology to produce completely random quantum cryptographic keys. Quantum keys are derived from an actual quantum source – quantum tunnelling of electrons – which is totally unpredictable and do not have the risks of pseudorandom number generation of conventional computing systems which can be cracked and reverse engineered.
Quantum tunnelling of electrons
Now for the quantum physics – tunnelling of electrons is a quantum phenomenon in which electrons travel through a barrier which they theoretically should not be able to cross. This tunnelling is both measurable and completely random as there is no way to predict which electrons will pass through the barrier at any instant in time. By digitally measuring this quantum phenomenon we can create truly random numbers which are used to create quantum keys.
Quantum keys can be used to protect all digital assets
Quantum keys can be used to produce quantum digital assets. Any digital asset which uses cryptographic keys can benefit from upgrading to using quantum keys. This in turn leads to the creation of a new class of digital assets. Presently, test networks from Quantum Bitcoin and Quantum Ethereum exist with more protocols to follow. A multiverse of quantum assets each denoted by the prefix Quantum is in the works. Users can expect to be able to use Quantum BTC and Quantum ETH in the near future.
Quantum keys are unable to be hacked by any computer system quantum or otherwise.
Existing projects can easily integrate with quantum ecosystems.
Respecting existing chain protocols and ecosystems
By respecting existing chain protocols (by primarily upgrading cryptography to quantum keys) existing projects can deploy onto quantum networks with minimal changes to code. Current projects running with/on existing chain protocols can be deployed onto quantum mirror protocols – imagine a world with Quantum DeFi and Quantum DApps.
Quantum oracles can be used to power smart contracts and even the Pancake Swap lottery!
Quantum assets are eco-friendly
Quantum nodes guarantee trust as quantum cryptographic keys ensure the fidelity of transactions on a quantum network. Quantum networks have no need for proof of work/stake consensus mechanisms of common protocols (which have a large carbon footprint). Quantum nodes comparatively have a very low carbon footprint (in fact we pledge zero carbon emissions for our quantum nodes). In this way, quantum assets are an excellent choice for eco-conscious users.
Quantum assets are the future
Cryptography is a key element of digital assets. Without cryptography the entire system fails. With the advent and introduction of quantum computers, cryptographic keys (which are a source of protection and power for thriving digital asset ecosystems) are at risk. Digital assets produced by quantum cryptographic keys are the solution and future of digital assets.