Quantum Resistant Blockchain Networks are Reportedly a Reality with Quube | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Quube, a company registered in Estonia, will reportedly be the first to develop quantum-resistant blockchain solutions in order to prevent potential quantum computer attacks which, according to the company, are a near-future threat. The news was published on Acceswire on November 6.
Although blockchain networks are designed to be secure and tamper-proof, there is a growing concern that as quantum computers develop, they could eventually break public-key cryptography and codes that hold the blockchain network together.
Quantum Computers function differently from the classical computers we use today.
In quantum computing, subatomic particles can exist in more than one form at a time. Due to the behavior of the particles, it’s significantly faster to undergo operations and solve problems and complicated tasks with a quantum computer than classical computers. Having the ability to process these new operations gives quantum computers significant advantages to solve complex tasks such as performing a 51% attack successfully, allowing a single operator to gain control of the blockchain network.
Quantum Resistant Blockchain
This fear is raising the interest and demand for solutions that preventing similar situations; startup Estone Quube aims to satisfy this market. Through a Quantum Resistant Protocol (QRP), Quube guarantees the development of quantum-resistant blockchain for an upcoming security token offering (STO).
The startup has created STO Fabric, a launchpad that includes smart fabric for security token structuring, and a KYC service which allows startups to create a company,