INTRODUCTION
The idea of quantum computer came into bare in 1980, and its implementation was at the start of the millennium. A quantum computer is primarily a machine that can process information with integral components, as stated by the laws of quantum mechanics. They can perform very sophisticated tasks at fast rates. From the direction of technological advancement, the blockchain industry and the cryptocurrency market will soon witness the use of quantum computers. The introduction of quantum computers can create a lot of damage. A functional quantum computer can crack cryptographic algorithms like the RSA, DSA and EEC. The QUUBE project aims to prevent this kind of imminent threat to the security of this industry.
There are two main threats that quantum computers pose to the cryptocurrency world and the blockchain technology.
• One sophisticated quantum computer that is connected to the blockchain can successfully perform a 51% attack. In such a case, the quantum computer operator has control over the blockchain. These operators can prevent new transactions from getting a confirmation in the blockchain.
• The second threat is that quantum computing is superior to traditional encryption algorithms. Quantum computers can overcome the encryption methods used in cryptocurrency, crypto wallets and exchanges. With the Shore and the Grover algorithms, hot wallets are very vulnerable to hacks. The assets in such hacked exchanges can be moved anywhere by the quantum computer operator. The possibility of these threats is why the cryptocurrency market needs proper protection.
The QUUBE Exchange will be based on a quantum blockchain with quantum computers. This blockchain eliminates the threat of a 51% attack earlier expressed. Also, the quantum blockchain uses methods that are stable to quantum computing and even the next level of quantum encryption. The QUUBE ecosystem concentrates on:
• High speed,
• Communication channels,
• Security of the trading environment,
• Security token market.
Exchanges can create registers that are quantum computing proof. The cryptographic structures based on hashing functions generate private keys by unique protocols. Quantum computers cannot use their usual exhaustive methods to discover a private key. The other option is using private blockchains. Membership in the private blockchain is strictly by invitation. The problem with private blockchains is that it uses multi-level structures which require centralized management.
There are three major products of the QUUBE Ecosystem. They include Quantum resistant blockchain QRP. The others are Quantum protected cryptocurrency exchange QUUBE and the STO/IEO Launchpad. QUUBE provides a cryptocurrency exchange for cryptocurrencies or security tokens. They will get profit from the fees for transactions in the exchanges. The Launchpad helps in creating security tokens and fundraise amongst accredited and non-accredited investors for the QUUBE projects.
QRP tokens turnover would be almost up to $375 million by the end of the 5th year product launch. The consistent demand for the QRP will remain at a high level because of the QUUBE quantum resistance.
The funds gotten from the ICOs will be distributed using a particular allocation formula. 30% of the funds go into the exchange software. 40% is for R&D lab and Blockchain development. 20% of the funds go into quantum key distribution hosting. The last 10 % is shared equally between Marketing and margin trading terminal.
Conclusion
The QUUBE project is one that will not only improve the adoption rate of cryptocurrencies. It will be the needed protection by crypto market ecosystems from quantum attacks. After the introduction of the quantum blockchain, traditional exchanges would be unable to withstand it. By the third quarter of 2020, QUUBE would be introducing its PRO STO Trading Terminal and AI. A lot has been put in place to make sure it’s ecosystem is ready for the coming quantum computers.
USEFUL LINKS;
Website: https://quube.exchange/
Facebook: https://facebook.com/QuubeQuantum
Twitter: https://twitter.com/quube_exchange
Telegram: https://t.me/QuantumWarriors
Medium: https://medium.com/@quube_exchange_m
Whitepaper: https://quube.exchange/static/assets/docs/Whitepaper-QUUBE-190917.pdf
AUTHORS DETAILS
Bitcointalk username- Corer
Bitcointalk profile link- https://bitcointalk.org/index.php?action=profile;u=2373697