Insider Brief
- QANplatform launched a private blockchain designed to withstand quantum computing threats while maintaining compatibility with Ethereum’s EVM.
- The company integrated a post-quantum algorithm, CRYSTALS-Dilithium, recommended by the National Institute of Standards and Technology (NIST).
- The QVM (QAN Virtual Machine) allows developers to create smart contracts using various programming languages.
PRESS RELEASE SUMMARY — QANplatform has launched a unique private blockchain designed to withstand quantum computing threats while maintaining compatibility with Ethereum’s EVM. This development opens doors for a wider pool of software developers to enter the blockchain space.
Quantum computers pose a significant threat to existing blockchain platforms. They have the potential to compromise the security of the vast majority of current blockchain systems. Attempting to enhance the security of these platforms by upgrading cryptographic methods alone falls short in countering quantum threats. This vulnerability could erode trust in the entire blockchain system, as transactions may become forgeable. In contrast, QANplatform has integrated a post-quantum algorithm, CRYSTALS-Dilithium, recommended by the National Institute of Standards and Technology (NIST), into its private blockchain. This addition enhances the security of blockchain solutions on the platform, making them resistant to quantum attacks.
The QANplatform’s QVM (QAN Virtual Machine) allows developers to create smart contracts using various programming languages, such as JavaScript, Java, Python, and more. This approach eliminates the limitation of existing platforms that exclusively support Solidity, a language familiar to only a small percentage of developers worldwide. Multi-language smart contracts offer a more inclusive approach to blockchain development, making it accessible to a broader talent pool and reducing development costs.
Facilitating Blockchain Adoption with Rapid Cloud Deployment
Cloud computing and blockchain technology have gained significant prominence in recent years, with even greater focus following the COVID-19 pandemic due to their distributed and privacy-enhanced characteristics. QANplatform simplifies blockchain deployment with its Rapid Cloud Platform Deployment feature, enabling developers to deploy the QAN private blockchain quickly on major cloud platforms. This ease of use accelerates the adoption of blockchain technology in a world where distributed and privacy-enhanced solutions are increasingly important.
While most blockchains are either public or private, QANplatform is developing a hybrid blockchain, combining elements of both. Enterprises can decide whether to store data on a private or public blockchain, providing flexibility and control over data access. Even in cases of collusion among private blockchain validators, the data remains auditable and tamper-proof. This hybrid approach is seen as vital for widespread enterprise adoption.
Upcoming Milestones
The launch of the QAN Private Blockchain marks the beginning of QANplatform’s journey. The platform plans to introduce its Public TestNet in the coming months, followed by the expected release of the QAN Public Blockchain by late 2023. These steps align with QANplatform’s mission to revolutionize Web3 operating systems and facilitate broader blockchain adoption.
Johann Polecsak, Co-Founder and CTO of QANplatform, expressed satisfaction with the team’s achievements, emphasizing the importance of addressing quantum threats and reducing entry barriers for developers and enterprises.
“Designing a private blockchain that addresses both future challenges, such as quantum attacks, and current market issues, like high entry barriers for developers and enterprises, presented a significant and complex undertaking. Additionally, ensuring Ethereum compatibility to facilitate the onboarding of existing solutions onto the QANplatform added to the intricacy of the task. I am proud of the QANplatform team for achieving these milestones as a global pioneer. I am eagerly anticipating the opportunity to showcase the initial use cases of our partners operating on the QAN Private Blockchain,” said Johann Polecsak, Co-Founder and CTO of QANplatform.
In a rapidly evolving landscape centered around Web3 and blockchain-driven solutions, QANplatform’s quantum-resistant private blockchain offers enhanced security, accessibility, and versatility for shaping the future of the blockchain industry.
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