Today dear friends we are witnessing the massive introduction of blockchain technology in absolutely diverse areas of both on-line and off-line industries. And of course, this is great. Since the blockchain means decentralization, security and anonymity of the network and its participants, lack of need of third parties, and equal rights and opportunities for the interacting parties. But with the advent of the quantum computing market, the future of the blockchain can be questioned due to 51% attack by the only one huge-capacity quantum computer connected to the blockchain.
A person who has access to such a computer gains control over the targeted blockchain and may be a hindrance for a new transactions to be confirmed within the blockchain that he is attempting to inflict. Also the commonly used encryption algorithms are vulnerable to machines that are able to perform quantum computing and, as a result, the encryption methods used by various enterprises, government and private services, as well as crypto projects, and cryptocurrency exchanges are prone to cracking by quantum computers. Various types of crypto wallets which we are having on the market now, may also be vulnerable. And as you all know we are having a large number of it due to the wide distribution of cryptocurrencies and blockchain technologies, and where we all are storing our coins there by the way. So assets from these wallets can be stolen and moved to a place that is controlled only by an attacker who is using a quantum computer.
So in order to protect the industry from these threats we must resort to the use of quantum technologies in the blockchain and cryptocurrency market. And this decision was made by the guys from a crypto startup called QUUBE, whose main goal is to create a new quantum sustainable ecosystem for market-oriented security tokens that would be having a high speed, ultra-secure encryption algorithms and also secure trading space, as well as the anonymous and fully secure communication channels.
Exactly these market problems prompted the reaction of the QUUBE team and they decided to launch a «quantum blockchain» which will be stored on computers capable of performing quantum calculations that virtually eliminates the risk of 51% attack.
As for the second threat, the encryption algorithms attacks, the quantum blockchain is equipped with methods that are resistant to quantum computing and even post-quantum encryption methods. You can see info about this in the project WP if you are interested to learn more.
The QUUBE team has also develops software for cryptocurrency exchanges and crypto wallets which works with the blockchain and will be keeping trading journals and register balances and other data that is necessary for the full functioning of the platform.
Also it must be mentioned another achievement of the project team, their very first quantum safe launchpad for the STO/ICO ecosystems with an own exchange platform where issued tokens may be traded between each others or between other currencies, and with the ability of projects to quickly raise funds among accredited and non-accredited investors to finance their further developments. So on the QUUBE exchange platform, projects that already are or want to be a member of the ecosystem can use an automated device panel to generate security tokens that meet all ERC-20 requirements or acquire an instant listing or STO structure from scratch using the QUUBE alliance.
Summing up I would say that the CUBE project is not just another crypto startup, I think they are the pioneers who are concerned about the future of the entire crypto market since the full use of quantum computers and calculations is just around the corner, and this phenomenon will certainly have a very serious impact on the crypto currency market and the blockchain as a whole. Perhaps it will even completely change or restructure it. And in order not only to successfully get out of the strike but to have high chances of not even getting a hit, we need to think about it in advance. That is why I recommend to pay attention to this project, and that is why the guys from the QUUBE are developing and implementing quantum blockchain and post quantum encryption algorithms.
Additional info you can get from QUUBE official website: link
Brief project introduction: link
My bitcointalk profile: link
