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New quantum security technology used to upgrade the cryptography used by crypto assets such as Bitcoin and Ethereum

Technology pioneer Peter Kazacos OAM, founder of KAZ has teamed up with Quantum Digital Assets Limited to revolutionise the crypto security.

SYDNEY, NSW, AUSTRALIA, November 8, 2021 / -- Esteemed technology Australian expert Peter Kazacos OAM of KAZ, is pioneering the crypto sector by using quantum security technology to upgrade the cryptography used by crypto assets such as Bitcoin.

When it comes to digital assets cryptography is everything. Digital assets like Bitcoin rely on cryptography to ensure security and trust. You need look no further than the name of the asset class to understand its importance. Cryptography is why digital assets are commonly referred to as “crypto”currencies.

According to Peter Kazacos OAM, “Advances in technology are the biggest risk for Bitcoin, particularly with the advent of quantum computing, which could break current implementations of cryptography. The KAZ solution we’re bringing to Quantum Digital Assets is an industry-first, it uses quantum technology to upgrade the cryptography of existing protocols like Bitcoin and Ethereum.”

Quantum computers will have the ability to crack the cryptography of Bitcoin. Quantum systems have the capability to determine patterns in combinations and speeds not currently possible on conventional computing systems. What would take a conventional computer years to crack will take minutes on a quantum system. This is an unacceptable risk to Bitcoin and its holders. Once the cryptography is undermined the asset will cease to operate as we know it, losses will be catastrophic and the whole system which relies on cryptography to operate will fail.

Fighting fire with fire. Using quantum technology to protect against quantum computers. Peter Kazacos OAM explained “Technology is powerful and ever evolving. At KAZ we know how to solve problems with technology. We identified a major problem with the cryptography of Bitcoin and a security threat for current investors. We are solving this by using real quantum phenomena, quantum tunneling of electrons which are totally unpredictable and entirely random to produce quantum cryptographic keys. If something is truly random it follows that it cannot be reverse engineered and is theoretically impossible to breach.”

Cue the first crypto to use quantum technology. Quantum Assets Token. Peter Kazacos OAM said, “Quantum Assets on the Binance Smart Chain are the first crypto to adopt KAZ’s quantum technology and are using it to launch Quantum Bitcoin in a bid to ensure the cryptography of Bitcoin remains safe and secure.” Quantum Digital Assets Limited is the corporation behind the recent launch of the Quantum Assets token on the Binance Smart Chain. Quantum Assets is levering KAZ’s core platform quantum technology to launch Quantum BTC and Quantum ETH each on their own Quantum Mainnets, with more protocols to follow in the future.

A spokesperson for Quantum Assets said, “We are proud to be leveraging and deploying KAZ’s quantum technology security solution to bring the world Quantum Bitcoin. Taking this a step further, Quantum Assets have devised a unique incentive and industry-first reward program to allow the crypto community to be a part of the biggest upgrade in crypto history. Holders of Quantum Assets tokens at relevant blocks (time periods) are guaranteed airdrops of new quantum assets as they are launched. So, for example, if you are holding Quantum Assets Token when the Quantum Bitcoin Mainnet is launched you will automatically receive a guaranteed airdrop of Quantum Bitcoin.”

Addressing Bitcoin’s dirty secret

Another key issue the industry is facing, is the environmental impact of cryptocurrency. Ode to Elon. Crypto can be eco-friendly. On 13 May 2021 Elon Musk fatefully Tweeted Tesla has ceased the ability to purchase vehicles using Bitcoin, due to mining’s cost to the environment.

The beloved crypto he spent months spruiking to all-time highs almost instantly began to lose its luster and price came tumbling down following Elon’s environmentally-conscious revelation. He shined a light on Bitcoin’s dirty secret - the mining which powered its network was incredibly power hungry and even worse, much of it is still being powered by dirty energy. Now eco-conscious users have abandoned the asset, with many vowing not to return until the crypto had cleaned up its act.

Addressing this, Quantum Bitcoin is touted as being eco-friendly information contained within the Quantum Assets White Paper suggests “Quantum nodes guarantee trust as quantum cryptographic keys ensure the fidelity of transactions on a quantum network. Quantum networks have no need for proof of work/stake consensus mechanisms of common protocols (which have a large carbon footprint). Quantum nodes comparatively have a very low carbon footprint (in fact we pledge zero carbon emissions for our quantum nodes). In this way, quantum assets are an excellent choice for eco-conscious users.”

The next step for Peter and Quantum Assets is mass adoption of quantum technology in the crypto space to ensure the sector continues to thrive and operate securely.

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