QANplatform launches world’s first quantum-resistant ETH-compatible L1 testnet
(FinanceYahoo) QANplatform has launched the official testnet for a first-of-its-kind quantum-resistant Ethereum-compatible blockchain.
Quantum-resistance is a critical area of development within distributed ledger technologies, as exponentially powerful quantum computing poses a serious threat in its ability to crack public cryptography.
This risk cannot be understated. Current security protocols in place across the industry (including for Bitcoin) boast the claim that it would take 10 billion years to be decrypted, but a fully realised quantum-computer would reduce this closer to 10 seconds according to research from Verizon.
The significance of QANplatform’s as the first to launch an ERC20-compatible quantum-resistant layer-1 blockchain testnet cannot be overlooked. It should be seen as a game-changer – offering the earliest quantum-resistant interoperability for crypto’s biggest ecosystem.
Johann Polecsak, co-founder and CTO of QANplatform, was keen to highlight the massive challenge his team have overcome.
“I’m pleased to announce that QANplatform is the very first Ethereum compatible quantum-resistant Layer 1 blockchain platform on the planet,” highlighted Polecsak.
“The TestNet release is a truly defining milestone in QAN’s lifespan and proof that providing quantum security yet remaining compatible with 99% of the ecosystem is very much possible.