Quantum1 Network Technologies (“Quantum1Net” or the “Company”), a quantum computing technology company, is announcing today a technology platform to address structural flaws preventing the mass adoption of crypto-currency and blockchain solutions.
“With the hacking of crypto-currency exchanges causing assets valued in the hundreds of millions of dollars to be lost, existing cybersecurity measures are clearly failing. Meanwhile, crypto-currency mining and transaction verification is highly energy intensive with estimates that it equals the annual power consumption of Nigeria, Africa’s largest economy,” says Mattias Bergstrom, CEO of Quantum1Net. “For the Internet to remain a valuable asset, we must keep two steps ahead, anticipating instead of reacting; only by preemptive innovation can it withstand the many problems it is sure to face in the near future.”
The mass adoption of crypto-currency and blockchain requires robust cybersecurity and energy efficiency. Quantum1Net is breaking new ground in providing the following solution to this problem:
The Q1N network, a secure and energy efficient transaction network capable of housing a true ecosystem of digital services such as TeleporterTM, an encrypted decentralized peer-to-peer (P2P) file transmission service (available March 2018), and Q1N’s virtual private network (VPN, available 4Q18).
At the heart of the Q1N network are:
The Q1N quantum encryption key generator (QEKG), providing cryptography resistant to conventional attacks, as well as quantum computer-powered attacks in the near future, and
The Q1N blockchain, a new approach to decentralized control protected by proof-of-transactionTM (in contrast to implementations based on proof-of- work or proof-of-stake).
The Q1N network will be the backbone of an energy efficient, fully autonomous P2P ecosystem built on blockchain, with advanced routing and traffic sharing, powered by its own crypto-economy. With this mission in mind, the Q1N network will be built upon pre-existing internet infrastructure, using extant technologies while introducing improvements on others.
The Q1N network will depend on its minters to provide the network traffic to sustain transactions. To ensure that any willing party with an internet connection can contribute and benefit, Quantum1Net is introducing the Q1N revenue node system. Potential minters can benefit directly from joining the network by simply installing the software that will be openly provided by Quantum1Net on public repositories.
“In our breaking new ground technologically, Quantum1Net appreciates the interest in and support for the Q1N network platform already received globally from the financial services sector,” stated Quantum1Net CEO Mattias Bergstrom.