Dallas, Texas, March 31, 2022 (GLOBE NEWSWIRE) -- Blockchain is a revolutionary technology. As is the case with any innovation daring to challenge the status quo, the rise of digital-ledger-powered ecosystems isn’t without looming threats of its own.
Most stakeholders are aware of the dangers that regulatory scrutiny and the unpredictable upswings and nosedives of price action pose to every project. Not to mention the platform-specific issues like bugs or security lapses in smart contracts and hostile overtakes of a community-driven project.
While all those challenges deserve the attention they’re getting, some industry veterans are ringing the alarm bells on a far more fatal and far-reaching threat that’s been hiding in plain sight.
Encryption Standards of Today are Unbreakable, or Are They?
There’s a widespread belief that today’s encryption standards are unequivocally and utterly unbreakable.
Considering the limitations of classical computing, it’s hard to argue with that assumption. We do not have the technology to overcome the walls of modern cryptographic algorithms. There simply isn’t enough “horsepower” to crack the combinations and figure out the private key based on the publicly accessible parts.
However, despite those limitations, researchers and blockchain experts at USX are not so optimistic about the future of current cryptography standards. With future being the keyword here, as the team believes that once floodgates of quantum computing are opened, encryption security, as we know it today, will cease to exist.
The vast majority of blockchain projects rely on either RSA or ECDSA cryptography to secure their data. Modern implementations of those standards with 256-bit keys can take even the mightiest supercomputer of today upwards of millions of years to crack, making them virtually impenetrable.
However, despite the seemingly limitless number of combinations, there’s still a finite limit on possible variations to go through before the entire chain can be broken. That’s where the threat of quantum computing comes crashing into the picture.
Quantum Computing is the Deadliest Threat to Blockchain and Encryption in General
While quantum computing has been at the forefront for technology innovators and sci-fi enthusiasts alike for decades, we’re finally hitting milestones that point to the possibility of commercial quantum computing by as early as the 2025.
Once that happens, the encryption protocols of today will cease to offer reasonable protection, if any protection at all. That’s because quantum computing offers a virtually limitless supply of raw power thanks to quantum entanglement.
Classical computers operate on bits, which can be either zero or one. Whereas a quantum computer operates on qubits, which can be both zero and one at the same time. Due to entanglement and superposition, qubits exist in all possible states concurrently.
To find the 256-bit combination of zeros and ones that holds the key to decrypting a piece of data, classical computers must leverage factorization and manually go through several combinations—a number that is countless from any practical standpoint.
Since qubits have both states at the same time, a quantum computer may be able to go through all the possible combinations in a single computational cycle.
While that explanation involved a lot of liberties to simplify the science, it serves the purpose well enough as far as illustrating the dangers of quantum computing for blockchain and encryption are concerned.
The World Needs Quantum-proof Blockchains More Than Ever
Thanks to the rise of DeFi, P2E gaming, autonomous organizations, and countless other innovative applications of blockchain technology, the world is experiencing an unprecedented rate of cryptocurrency adoption and general-public participation. As such, the need for quantum-proof blockchains has never been more intense.
The team at USX is doubling down on its quantum blockchain efforts with the USX Quantum project.
USX Quantum is an ambitious project to bring quantum-proof and quantum-powered blockchains to the mainstream before commercial quantum computing ever does.
The group of blockchain veterans is pouring all its resources into raising awareness and taking actionable steps to not only tackle the threat of quantum computing but also harness its power for the uplifting of the entire blockchain ecosystem.
USX Quantum: A Daring Journey to Visualize and Realize a Stronger Blockchain
USX Quantum is an ambitious and daring journey to safeguard the interests of all the stakeholders involved in the blockchain ecosystem.
As a group of blockchain and business veterans, the team knows that creating a quantum-powered blockchain solution is a multi-faceted endeavor.
On one hand, creating the technology itself is a wildly ambitious challenge that’s going to require a flawless collaboration between scientists, developers, and the wider business community. With the conglomerates of the traditional finance world and the governmental agencies from across the globe, all chasing the same target, the clock is ticking and every minute matters.
On the other hand, creating the technology alone will not achieve much without mainstream adoption. This involves another set of challenges, the kind that involves attracting millions and possibly billions of eyeballs to this technology and then presenting it in intuitive layers that can capture the long-term interest of the public.
USX is hoping to tackle all those challenges by bringing every stakeholder on board, from scientists and developers and business veterans being the initial persons of interest. As the project progresses, a shift towards involving social media influencers and branding experts will be kicked off as well.
All of this is to ensure a technology that not only serves the USX team and community, but the wider world of blockchain and possibly all areas of data security as well.
The Road Ahead for USX Quantum
To meet those challenges head-on, USX is launching the USX Quantum token to involve the community and fund this ambitious, blockchain-betterment project.
With a total supply of 2.6 billion, USD Quantum is a community-funded and community-driven project, guided under the leadership of an experienced team with a proven record for dedication.
To incentivize investors and early adopters, USX Quantum will offer 20% POS rewards for the first year, with no maturity period or minimum requirements. For those who truly believe in the need for a quantum-proof blockchain, there are also lock-up contracts with bonus rates up to 116%.
The team has limited its holdings at 10% of the total supply, out of which only a 20th portion (5%) will be distributed initially. Furthermore, USX has proven its dedication with its previous project that was executed if it was possible. The entire team stuck around until the very end of the project, regardless of the roadblocks and challenges that came in their way.
To learn more about USX Quantum, and join the movement for a safer and stronger blockchain, interested parties are encouraged to explore the following links:
