Business
Introducing Best-in-Class Quantum-Safe Blockchain
TORONTO, ON / ACCESSWIRE / April 5, 2022 / 01 Communique Laboratory Inc. (TSXV:ONE)(OTCQ...
About this update from 01 Quantum Inc.
[{"type":"text","content":"Introducing Best-in-Class Quantum-Safe BlockchainTORONTO, ON / ACCESSWIRE / April 5, 2022 / 01 Communique Laboratory Inc. (TSXV:ONE)(OTCQB:OONEF) (the \"Company\" or \"01\"), has been commissioned to develop the World's First Quantum-Safe Blockchain designed for Tokens, NFTs, Smart Contracts for the Metaverse, De-centralized Finance (DeFi). It is expected that this best-in-class quantum-safe blockchain will be resilient against cyber adversaries, including quantum attacks.Blockchain technology is vulnerable to cyber-attacks, including quantum threats. A recent crypto hack reported a loss of over $300 million due to hackers forging a wrong signature to fake a transaction. These hacks have now become commonplace, and it is anticipated that the introduction of quantum computing will increase them dramatically.After an extensive global search, a consortium of highly successful crypto experts has selected the Company as their technology partner and Post-Quantum Cryptography (PQC) provider. The consortium (Talent Summit) is pursuing the new blockchain aggressively and is planning a Proof-of-Concept (PoC) within three months. The PoC of this new venture is the first step towards protecting the de-centralized eco-system.\"01 has taken a minority position in Talent Summit and in addition will be compensated for the development project by way of a payment of $250,000 cash plus a 10% royalty for the ongoing share of the 'Tokens' per transaction,\" said Andrew Cheung, the President and CEO of 01 Communique.01 will protect the integrity of this state-of-the-art blockchain by using its patent-protected, quantum-safe, IronCAP™ technology. In addition to being quantum-safe and supporting smart contracts, this new blockchain is aiming at high-performance with the ability to process tens of thousands of transactions/second (TPS).\"This revolutionary blockchain is essentially a transformation of the proven Solana blockchain into a quantum-safe version to be incorporated in Tokens, NFTs, Smart Contracts for Metaverse, DeFi, and more,\" said Andrew Cheung.About 01 CommuniqueOne of the first-to-market, enterprise level cybersecurity providers for the quantum computing era. The Company's cyber security business unit focuses on post-quantum cybersecurity with the development of its IronCAP™ technology, protected in the U.S.A. by its paten...