The Next Big Thing

When it comes to innovations in any space, the biggest disruptors tend to be the changes nobody could foresee. In most cases, this is due to people usually being used to what they already have, while the visionaries behind such projects don’t have a problem with thinking outside the box. Blockchain is no exception to this rule as the technology itself upended the world of digital ledgers and rushed it into a new era, so specific innovations within the technology have the ability to transform it beyond people’s wildest imaginations. One of them is the birth of quantum computed blockchains.

How Quantum Computing Can Improve Blockchain

“Quantum computing” is an often used buzzword that few people actually understand. In short, current computers use binary bits information in the shape of 0 and 1 to store and manipulate information. Quantum computers use quantum bits, or qubits, which can be both 0 and 1 at the same time. This, along with other, more complex quantum phenomena, lets them manipulate an enormous number of states at once, giving them a significant advantage compared to traditional computing.

When it comes to blockchain, its biggest strength is its security, while one significant weakness is the lack of scalability. Quantum computing can help with both: since quantum computers could theoretically crack blockchain’s encryption system, they could also improve it to make it virtually unbreakable, even with that technology. On the other hand, quantum’s superposition of states could speed up even a technology as slow as blockchain without sacrificing any of its key features.

Acquanaut: The First Blockchain Network Powered by Quantum Computing

Acquanaut is one such innovation that takes into account blockchain’s needs for both scalability and increased security while the world is heading towards an era of quantum computing. The project recognizes the need of both veterans and newcomers to the space to know that their funds are safe and well protected, but also that they’re able to trade quickly and without much hassle that is usually associated with audits, reconciliations, and other intermediary work.

Of course, pairing a quantum computed blockchain with wallets and exchanges that are not quantum computed defeats the purpose of quantum computing completely. This is why Acquanaut offers all these services with their proprietary technology. The wallet and exchange are only the beginning, necessary to build the framework upon which the rest of the features will come. These include various web and mobile apps, many of which will depend on the needs and wants of Acquanaut’s user base, but also general trends in the market.

To further improve speed and scalability, Acquanaut uses a delegated Proof of Stake (dPoS) consensus algorithm to vote upon matters of general interest. Another way in which quantum computing takes their proprietary blockchain technology to a new level is by enabling every transaction and connection within the network to have its own, unique node for added security.

A Closer Look at Acquanaut’s Features

No blockchain is complete without its own wallet and exchange, which is especially true in the case of solutions that are completely reengineered, as is the case with Acquanaut. For example, their wallet is already available for both iOS and Android for free. You can use the app itself to purchase cryptocurrencies, or the Acquanaut exchange the choice is yours. As far as the exchange is concerned, it is completely decentralized, making it safer than the vast majority of currently available cryptocurrency exchanges. With no single, central point of failure, your data and funds are safe while you’re trading, although you’re encouraged to keep your funds off the exchange and in your wallet otherwise as a general precaution.

But how does quantum fit into this? That’s the best part: you, the end user, don’t need to even be aware that this is a quantum blockchain, as that much will be clear from the speed, security, and reliability of the network. You don’t need the technical knowhow surrounding either blockchain or quantum computing to be able to operate this exchange and wallet, just like you don’t have to be an electrical engineer to use an oven or turn on the lights in your home.

Key Takeaways

The world is constantly on the brink of innovation. Since the 80s and 90s, our everyday lives have changed beyond recognition, and technological advancements show no sign of abating. Now, the blockchain space which has already taken the world of finance, especially in terms of being your own bank, to a whole new level has to move as quickly to keep offering an alternative to traditional finance. Implementing a whole new technological concept like quantum computing to blockchain means redefining what the future looks like, and how security, improved profitability, and user friendliness all come together in a cutting edge project.