In a bold move to fortify Blockchain Wallet’s security, Quantum eMotion Corp. (TSXV: QNC) has revealed an innovative approach. This groundbreaking method leverages the QeM Quantum Random Number Generator (QRNG2) to enhance security, marking a significant step forward in cryptocurrency protection.
Conventional hardware wallets serve as bastions, safeguarding private keys vital for managing and accessing cryptocurrencies like Bitcoin and Ethereum. By storing private keys offline, these devices shield themselves against cyber threats and hacking attempts, offering a considerable advantage over internet-connected software wallets.
Cryptocurrency wallets, especially those based on blockchain technology, rely on an extensive series of numbers called keys. Quantum eMotion recognizes the various key generation schemes, such as ND and HD, each with its advantages and disadvantages. However, tailoring the key generation scheme to individual user needs presents challenges, often resulting in mismatches.
Quantum eMotion’s innovative technology tackles these challenges by introducing a wallet that can intelligently choose the key generation scheme, comparing cost values to make the selection.
Additionally, by integrating Quantum eMotion’s QRNG technologies, consumers gain access to a blockchain wallet that combines true random number generation with intelligent key generation scheme selection, offering unparalleled functionality.
Through collaboration with Dr. Kaiwen Zhang at ETS (École de technologie supérieure, Montreal, Canada), Quantum eMotion has achieved a patent pending status on a global scale. The patent application, filed under the Patent Cooperation Treaty, establishes March 30, 2023, as its priority date.
- International Patent Application Timeline:
- Priority Date: March 30, 2023
- Pending Until: September 30, 2025
Security Challenges
- Security Challenges:
- Vulnerabilities in Current Hardware Wallets
- Threat of Quantum-Computer Attacks
- Cybercriminal Activities
A recent report from Allied Market Research predicts significant growth in the worldwide hardware wallet market. From a value of $442.6 million in 2021, the market is projected to soar to $3.6 billion by 2031, with a compound annual growth rate (CAGR) of 23.7% from 2022 to 2031.
However, despite their enhanced security features, current hardware wallets face vulnerabilities. They are posed by sophisticated cybercriminal activities and the looming threat of quantum-computer attacks. In the previous year alone, hackers managed to steal a staggering $3.8 billion worth of cryptocurrency.
With the emergence of quantum computers capable of breaching current encryption algorithms safeguarding online communications and financial transactions, the future presents even graver security risks.
Quantum eMotion’s Role in Blockchain Security
Quantum eMotion’s groundbreaking initiatives to enhance blockchain wallet security represent a major step forward in strengthening the bedrock of cryptocurrency transactions. As the digital landscape evolves, the integration of quantum technologies promises to revolutionize security paradigms, ensuring the integrity and confidentiality of digital assets in an increasingly interconnected world.
Disclaimer
FAQ
Quantum eMotion uses their QRNG2 technology to generate truly random numbers, enhancing the security and integrity of blockchain wallets against both cyber and quantum threats.
QRNG technology provides a secure foundation for generating encryption keys, ensuring that the keys are unpredictable and safeguarded from both traditional and quantum computer attacks.
Quantum eMotion addresses vulnerabilities like susceptibility to quantum-computer attacks and advanced cyber threats, which current hardware wallets are exposed to despite their offline key storage.
Quantum eMotion's wallets offer enhanced security by intelligently selecting key generation schemes and integrating QRNG technology, providing superior protection against a wide range of security threats.
