Cryptocurrencies typically use decentralized control as opposed to a central bank digital currency (CBDC). When a cryptocurrency is minted or created prior to issuance or issued by a single issuer, it is generally considered centralized. When implemented with decentralized control, each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database. A cryptocurrency wallet stores the public and private "keys" (address) or seed which can be used to receive or spend the cryptocurrency. With the private key, it is possible to write in the public ledger, effectively spending the associated cryptocurrency. With the public key, it is possible for others to send currency to the wallet. Current blockchain platforms rely on digital signatures, which are vulnerable to attacks by means of quantum computers. The same, albeit to a lesser extent, applies to cryptographic hash functions that are used in preparing new blocks, so parties with access to quantum computation would have unfair advantage in procuring mining rewards. Designing Quantum Secure Wallets are crucial for the future of the market.
The cryptocurrency market is now worth more than $3 trillion. It is growing up strongly with new applications. Sirius Quantum Solutions Ltd will offer secure-wallet solutions to prevent attacks post quantum computer and starting now. Any company or sector that uses secure key exchange to protect sensitive data as it travels over private or public networks. Notably those that deal with sensitive, personally identifiable data; those that operate in IP-rich settings; or those that operate in highly regulated industries, must ensure the authenticity, integrity, and privacy of data: Such as Digital Asset Holders, Banking& Finance , Governments, Telecoms , DataCenters, Healthcare.
Data is our most valuable asset in a digital era. It is the oil that keeps the motor of commerce going and guides every business choice. Over the last two decades, we've seen exponential expansion in data volume and access, which has created both complexity and risk.
Data has been pushed to the virtual edge of current network infrastructure due to increased usage of cloud services, remote working, and the spread of the Internet of Things.
Underscoring all of this complexities is a continuously changing threat landscape, in which cyberattacks are growing more persistent and sophisticated.
Why Quantum Cryptography ?
QKD( Quantum Key Distribution )is a method that secures the distribution of symmetric encryption keys by using quantum mechanics. It solves the problem of key distribution by allowing distant parties to exchange provably safe cryptographic keys across optical fibre networks with total security guaranteed by basic physical laws.
Advantages:
1-QKD (Quantum Key Distribution) systems have the advantage of being automatic, with greater reliability and lower operating costs than a secure human courier network.
2-Smart contracts ( especially Ethereum can handle stressful transactions ) be used in conjunction with quantum technologies, such as quantum lightning, to create a decentralised payment system that overcomes the problem of transaction scalability.
Challenges:
1- Hardware is under development to test and deploy the product 2- Quantum Error Correction
Recent Work : https://www.youtube.com/watch?v=8fzLByTn8Xk ( Quantum Money based on Lattices)
Here is scientific paper inspired the project : A Quantum Money Solution to the Blockchain Scalability Problem 2020, Andrea Coladangelo and Or Sattath. Whitepaper of the project under technical writings.
Currently project is open to collaborate with the people, teams and communities. We consider Qunicorn (https://qunicorn.co.uk/projects) wallet as public good for future of the data security. We are applying for grants and looking for investors to support our research and help us launch product the market in upcoming years.