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.
This has driven a flurry of activity in the cryptographic world as researchers race to develop so-called ‘quantum-resistant’ encryption, especially follow the revelation in IBM’s roadmap that they will release Model Condor (a 1,121+ qubit quantum computer) in 2023 – this alone could break 99% of modern cryptographic protocols.
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.
“QAN is the only such solution in the crypto space, and I am very proud of the whole team for making this miracle happen.”
QANplatform aim to revolutionise smart contract development
The groundbreaking QANX blockchain has taken a strategic approach to ecosystem growth that aims to foster talent from outside of the crypto space to deliver future-proof smart contracts.
The new QAN Virtual Machine (QVM) smart contract engine is in the final stages of internal testing, soon it will be opened to enable fully realised Ethereum compatibility on the testnet.
Utilising MetaMask, developers will be able to transact and play with testnet tokens on the quantum-resistant blockchain’s testnet.
The QVM is especially exciting due to its multi-language functionality, which aims to attract and onboard developers from outside the crypto space by easing the barriers to entry.
Smart contracts will be programmable in all of the main Linux kernel languages and more niche languages such as those used by DevOps, major cloud platforms, or for API programming.
Additionally, the platform introduces a new incentivisation model that rewards developers with royalties when modular excerpts of smart contract code are reused by another developer.