Quantum computing represents an existential threat to blockchain technologies, because it could theoretically break the cryptographic algorithms that secure it.
Krown Technologies Ltd and Quantum eMotion Corp (CVE: QNC) (OTCMRKTS: QNCCF) signed a memorandum of understanding on Monday to leverage blockchain, fintech, AI and quantum computing to get head of this potential issue.
Shor’s algorithm, a powerful quantum computing method, can efficiently break the encryption systems that protect private keys by quickly solving the math problems that make these systems secure.
Another breakthrough called Grover’s algorithm can speed up the search for specific data in large datasets, potentially weakening the cryptographic security of blockchain mining. This means that if a computer gains sufficient power, it could exploit public keys that are already exposed, leading to retroactive attacks.
Today’s quantum computers are not advanced enough to pose an immediate threat. Still, experts agree that it’s critical to start developing resistant cryptography and creating strategies to migrate keys to safer systems. These steps will help protect blockchain technology from potential future risks posed by quantum computing.
Krown leverages its robust blockchain ecosystem and development expertise in collaboration with Quantum eMotion’s cutting-edge Quantum Random Number Generation (QRNG) technology.
QRNG technology uses the unpredictability of quantum mechanics to produce random numbers. Unlike traditional random number generators, which rely on algorithms and can be predictable, QRNGs generate randomness based on quantum phenomena, such as the behavior of particles or light. This makes QRNGs highly secure and ideal for cryptographic applications, where true randomness is essential to protect data.
Together, the companies aim to set a new security standard for blockchain infrastructure and cryptocurrency wallets.
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Partnership integrates RNG into Krown’s ecosystem
QRNGs utilize the inherent unpredictability of quantum mechanics to generate true randomness, which is crucial for secure cryptographic operations. By combining Krown’s extensive experience in blockchain, fintech, and artificial intelligence innovation with Quantum eMotion’s pioneering QRNG advancements, they will deliver practical, scalable solutions to address both current and future security challenges in the digital asset space.
The partnership between Krown Technologies and Quantum eMotion focuses on seamlessly integrating QRNG technology across the Krown ecosystem. This integration enhances Krown’s blockchain, cold wallet storage solutions, hot wallets, and security infrastructure.
By merging Krown’s blockchain expertise with Quantum eMotion’s QRNG solutions, the partnership elevates cryptographic standards for encryption and authentication. Additionally, the collaboration futureproofs the system against emerging computing threats by adopting quantum-resistant cryptographic techniques.
Through this dynamic partnership, both companies drive technological advancements and foster market growth.
Krown Technologies brings an extensive intellectual property portfolio, a proven track record in blockchain infrastructure, and a team with decades of experience in blockchain, fintech, and cybersecurity.
Its commitment to deploying these technologies makes Krown an ideal partner for demonstrating QRNG’s real-world applications. Meanwhile, Quantum eMotion contributes groundbreaking QRNG technology, which provides randomness crucial for cryptographic systems.
Integrating QRNG technology enhances security by significantly strengthening encryption keys and improving overall data protection.
It also improves entropy, ensuring that high-quality randomness supports secure cryptographic protocols. Moreover, it facilitates the transition to quantum-resistant cryptography, helping to safeguard systems against future threats.
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Market advancement reason for optimism
The QRNG market is expected to surpass USD$4 billion by 2030 for physical devices and exceed USD$100 billion for cloud-based applications. The global blockchain market is projected to grow from USD$20.1 billion in 2024 to USD$248.9 billion by 2029, achieving a compound annual growth rate (CAGR) of 65.5 per cent during the forecast period.
This partnership positions the two companies as leaders in meeting the increasing demand for secure blockchain solutions, setting the stage for groundbreaking advancements in the industry.
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joseph@mugglehead.com
