Things were really heating up as Saylor opened up a task force last month. His latest talking point is "If quantum breaks cryptography, it breaks AI, cloud infrastructure, banks, and the internet- not just Bitcoin."
Adding "the entire stack upgrades together"
Yet, we now see Google setting a deadline of 2029 for migration of all its products.
The "stack" doesn't just upgrade together by default. Each system has to take its own initiative to upgrade, and each faces decisions in how to go about it.
There will be significant impacts
Cryptocurrency faces a variety of decisions that are unique only to crypto operating in a decentralized manner.
So while its calm for now, it is inevitable the topic will heat up again.
What does this mean for projects that are well ahead of the curve with Quantum Resistance?
Let's take a look at the top 5 listed on CMC.
(( Disclosure notes on how I think about it. First, I have owned and followed Qanplatform for 5 years and maintained my position. In that time, I have been very interested in sustainable business usage of blockchain solutions, while also learning the challenges most projects face in transitioning to Post Quantum Cryptography.
Many have wondered if this risk creates an opportunity for better prepared coins to gain the marketshare being lost by top coins.
I don't really see it that way. I do think it creates more and more awareness however.
For Qanplatform, this serves them well with their enterprise focus on the emerging market where all businesses look for solutions to migrate to new cryptography.
I personally think while bitcoin works through this, it highlights how important these upgrades are across the globe ))
ZEC – Their shielded transactions offer protection, but if you want to use the public side, that is still vulnerable. They will need to fix this to be considered quantum resistant
STRK is a layer 2 scaling solution for eth. Since the root issue is your digital signature and protecting your wallet, it will be dependent on the Ethereum solution. Vitalik dealt a blow to layer 2 concepts recently, so we'll see how they respond.
Nervos is Cell based architecture. "The protocol enables quantum resistance, but users must choose to adopt quantum-secure lock scripts or wallets like Quantum Purse"
Naoris – They promote that they can secure networks as a layer 0. Believe this is still pre-mainnet and I still am trying to see what adoption path this represents. If anyone has more understanding of this, please share.
QANX (As noted, I hold this one) is pre-mainnet and has focused on a seamless transition of digital signatures. This innovation has use cases being implemented at Ueno bank through their Itti partnership alongside SignQuantum. Recently Crowe Portugal also has engaged with SignQuantum. They will need public mainnet to realize the benefit of this solution. In general, they have a heavy focus in enterprise utility.
