The first quantum-resistant cryptocurrency DapCash which will survive Quantum Apocalypse is developed
Yes, blockchain is not as secure as it is considered. Encryption algorithms used in the blockchain of existing cryptocurrencies are not able to resist a quantum supercomputer. The fact is that the quantum supercomputer is able to quickly match the keys to transactions within the blockchain. A classic computer would do this for years. As soon as a quantum computer with processing power of about 1000 qubit (quantum bits) appears, it will be possible to hack the blockchains of all the existing cryptocurrencies.
But not everything is so tragic. There already is a project which is developing quantum resistant cryptocurrency DapCash. This project has several distinctive features in comparison with existing cryptocurrencies:
The blockchain DapCash uses so-called postquantum cryptography. This is a kind of cryptography, which even the quantum supercomputer will not be easy to cope with because of the large amount of intermediate calculations, for which a great amount of memory is required. Since even post-quantum cryptography doesn’t ensure full protection against the quantum computer, variative digital signature will be used in DapCash. So, the owner of crypto-wallet will get the opportunity to choose the type of signature or several types of signatures at once. Finally, ring post-quantum signature enabling you to make totally anonymous transactions will be applied in DapCash. It is impossible to determine who sent money or to whom money was sent due to post-quantum ring signature.
DapCash will not be only a cryptocurrency, but also will provide very useful services such as anonymous VPN, TOR-like routing, audio and video streaming, business collaboration tools. The author of the idea and the leader of the project is Dmitry Gerasimov, the owner of Demlabs company. Dmitry has a unique combination of professional skills: education in the field of quantum physics and 20 years of experience as a C/C++developer. Dmitry specializes in computer security, encryption algorithms, and system programming on UNIX.
Currently DapCash project is in full swing, and here’s what has already been done:
The concept of the project updated. Parachain (it is identical parallel chains with the same blocks, consensuses and coins inside) will now be applied only to " bronze”;Two new post-quantum algorithms are integrated;The demo of console version is almost finished;Nodes have already been developed;VPN service is almost ready. On its basis, a separate non-blockchain (but also post-quantum) VPN service intended for component testing is being prepared for release. All holders of DapCash coins will get free access to this VPN service up to release;New transport layer protocols based on UDP and UDP Light are under developing. If you want to become one of the first owners of the new generation cryptocurrency, you can buy DapCash coins at the pre-sale stage right now. ICO DapCash is planned in October - December 2018.