BEIJING, Dec. 27, 2023 /PRNewswire/ — MicroAlgo Inc. (NASDAQ: MLGO) (the “Company” or “MicroAlgo”), today announced the quantum shield distributed ledger technology (QSDLT), designed to provide a stronger, more secure foundation for Bitcoin and other cryptocurrency systems.
In traditional blockchain systems, security relies heavily on cryptographic algorithms based on public key cyphers. However, the emergence of quantum computers threatens this system. Quantum computers can solve problems in a relatively short period of time that current conventional computers cannot handle, including some widely used cryptographic algorithms.
Specifically, the emergence of quantum computers could crack current systems based on RSA and elliptic curve encryption algorithms. This means that private keys and transaction data could be easily accessed by quantum computers, jeopardizing the security of the entire blockchain system. To counter this threat, the research and development of QSDLT have become particularly urgent.
To protect the Bitcoin system from the threat of quantum computers, MicroAlgo Inc.’s QSDLT was created as an innovative solution. The goal of QSDLT is to build a strong shield for the Bitcoin system by integrating quantum security, which is not just a simple upgrade to the traditional blockchain system, but a revolutionary change to the entire cryptocurrency ecosystem.
MicroAlgo Inc.’s QSDLT employs a series of advanced cryptographic algorithms, particularly those that combat quantum algorithms, to ensure that Bitcoin transactions and user identities are fully protected. Its core is to provide a security framework that is resistant to quantum computing threats, incorporating quantum security into DLT to provide stronger protection for Bitcoin and other cryptocurrencies. Its design principles include countering attacks from quantum algorithms, achieving invariance, reducing transaction costs, enabling decentralization and increasing transparency. The introduction of this technology marks the next stage in the evolution of the Bitcoin system.
Anti-quantum algorithm defence mechanism: One of the core aspects of MicroAlgo Inc.’s QSDLT is its robust anti-quantum algorithm defence mechanism. Cryptographic algorithms used in traditional blockchain systems, such as RSA and elliptic curve encryption algorithms, may be threatened by quantum computer attacks in the future. To address this challenge, QSDLT employs well-thought-out cryptographic algorithms that are more resilient to quantum computer attacks. This ensures that QSDLT will be able to keep Bitcoin transactions secure and tamper-proof in the face of the rise of quantum computers.
Invariance and transparency: QSDLT focuses on maintaining the invariance of the blockchain, meaning that once a transaction is confirmed and added to the blockchain, it cannot be tampered with. This is one of the fundamental characteristics of the blockchain and is critical to ensuring the trustworthiness of the Bitcoin system. Meanwhile, MicroAlgo Inc.’s QSDLT promotes transparency through the decentralized nature of the blockchain. Every participant is able to view and verify the history of transactions, thus enhancing overall traceability and openness.
Post-quantum distributed ledger technology (PQDLT): MicroAlgo Inc.’s QSDLT technology focuses not only on anti-quantum algorithm defense, but also places itself in a broader technological context to form PQDLT. this denotes the convergence of QSDLT with innovations in the fields of machine learning, deep learning, 6G, and the quantum internet, laying the groundwork for the future of the digital economy. The concept of PQDLT aims to achieve comprehensive security for the Bitcoin system and to facilitate the development of a digital financial system.
Reduced costs: QSDLT effectively reduces the cost of Bitcoin transactions by employing carefully optimized algorithms and technologies. This feature not only makes the Bitcoin network more accessible, but also provides a lower barrier to participation in Bitcoin transactions for a broader group of users. Lowering the cost will help facilitate mass adoption of Bitcoin and drive broader adoption in the digital currency space.
Highly scalable: MicroAlgo Inc.’s QSDLT is highly scalable with future growth needs in mind in its basic concept. This allows QSDLT to adapt to the increasing size of the Bitcoin network’s user base and to be flexible enough to meet the growing demands of digital finance. High scalability is one of the key factors that make QSDLT a trusted infrastructure.
MicroAlgo Inc.’s QSDLT is more than a simple upgrade to the traditional blockchain. It is an update to combat the threat of quantum computing. Its key features, including anti-quantum algorithmic defence mechanisms, invariance and transparency, cost reduction, PQDLT, and high scalability, combine to create a robust and flexible security framework.
MicroAlgo Inc.’s QSDLT provides the Bitcoin system with a robust defence against quantum algorithms with its strong anti-quantum algorithmic capabilities, making transactions secure and tamper-proof. At the same time, QSDLT maintains the basic principles of the blockchain, enhancing overall trustworthiness through invariance and transparency. Reduced transaction costs make the Bitcoin network more attractive, further driving mass adoption of the digital currency. As the threat of quantum computing emerges, the emergence of MicroAlgo Inc.’s QSDLT marks the dawn of a new era of Bitcoin security. The basic concepts and key features of QSDLT present a blueprint for the future of digital finance, an innovation that will open up more possibilities for the digital economy, ensure that Bitcoin and other cryptocurrency systems remain secure and trustworthy in the quantum era, and lead the way for a vibrant future of digital finance. the future of digital finance.
About MicroAlgo Inc.
MicroAlgo Inc. (the “MicroAlgo”), a Cayman Islands exempted company, is dedicated to the development and application of bespoke central processing algorithms. MicroAlgo provides comprehensive solutions to customers by integrating central processing algorithms with software or hardware, or both, thereby helping them to increase the number of customers, improve end-user satisfaction, achieve direct cost savings, reduce power consumption, and achieve technical goals. The range of MicroAlgo’s services includes algorithm optimization, accelerating computing power without the need for hardware upgrades, lightweight data processing, and data intelligence services. MicroAlgo’s ability to efficiently deliver software and hardware optimization to customers through bespoke central processing algorithms serves as a driving force for MicroAlgo’s long-term development.
This press release contains statements that may constitute “forward-looking statements.” Forward-looking statements are subject to numerous conditions, many of which are beyond the control of MicroAlgo, including those set forth in the Risk Factors section of MicroAlgo’s periodic reports on Forms 10-K and 8-K filed with the SEC. Copies are available on the SEC’s website, www.sec.gov. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, MicroAlgo’s expectations with respect to future performance and anticipated financial impacts of the business transaction.
MicroAlgo undertakes no obligation to update these statements for revisions or changes after the date of this release, except as may be required by law.
Originally published at https://www.prnewswire.com/news-releases/microalgo-inc-developed-qsdlt-to-provide-a-more-secure-foundation-for-bitcoin-and-other-cryptocurrency-systems-302022757.html
Images courtesy of https://pixabay.com