01 Communique Laboratory Inc. has been commissioned to develop the World’s First Quantum-Safe Blockchain designed for Tokens, NFTs, Smart Contracts for the Metaverse
(MorningStar) 01 Communique Laboratory Inc. has been commissioned to develop the World’s First Quantum-Safe Blockchain designed for Tokens, NFTs, Smart Contracts for the Metaverse, De-centralized Finance (DeFi). Inside Quantum Technology News shares the announcement.
After an extensive global search, a consortium of highly successful crypto experts selected 01 Communique as their technology partner and Post-Quantum Cryptography (PQC) provider. The consortium (Talent Summit) is pursuing the new blockchain aggressively and is planning a Proof-of-Concept (PoC) within three months. The PoC of this new venture is the first step towards protecting the de-centralized eco-system.
It is expected that this best-in-class quantum-safe blockchain will be resilient against cyber adversaries, including quantum attacks. Blockchain technology is vulnerable to cyber-attacks, including quantum threats. A recent crypto hack reported a loss of over $300 million due to hackers forging a wrong signature to fake a transaction. These hacks have now become commonplace, and it is anticipated that the introduction of quantum computing will increase them dramatically.
“01 has taken a minority position in Talent Summit and in addition will be compensated for the development project by way of a payment of $250,000 cash plus a 10% royalty for the ongoing share of the ‘Tokens’ per transaction,” said Andrew Cheung, the President and CEO of 01 Communique.
01 will protect the integrity of this state-of-the-art blockchain by using its patent-protected, quantum-safe, IronCAP™ technology. In addition to being quantum-safe and supporting smart contracts, this new blockchain is aiming at high-performance with the ability to process tens of thousands of transactions/second (TPS).
“This revolutionary blockchain is essentially a transformation of the proven Solana blockchain into a quantum-safe version to be incorporated in Tokens, NFTs, Smart Contracts for Metaverse, DeFi, and more,” said Andrew Cheung.
Sandra K. Helsel, Ph.D. has been researching and reporting on frontier technologies since 1990. She has her Ph.D. from the University of Arizona.