Quantum Computing to be a Threat to Crypto, IBM Says

So, can quatum computer hack the private keys? Let's see what experts says
18 March 2019   296

Top managers of the technology giant IBM have stated that quantum computing is a threat to digital currencies and cryptography used in blockchain systems. This is reported by Coindoo.

It’s reverse engineering the private keys which represent the control of your wallet. Your public key is essentially your wallet which holds balances. And I think that’s a real, credible threat. Bitcoin is a public ledger. So you can go out and see which public keys are holding the largest balances and you could go out and target those (the hundred or thousands of bitcoin in there) and say I’m gonna spend effort (computing resource) to reverse engineer the private key from the public key, which is exposed. I think that’s even a near term threat.

Jesse Lund

VP of blockchain and digital currencies, IBM

He also noted that over time, the threat from the quantum computer will become increasingly relevant. In particular, Lund stressed that in the future, quantum computing will be able to calculate private keys using public ones as a template. Thus, according to him, more than half of the existing blockchain systems will be susceptible to this threat.

In addition, virtually all systems that use encryption, including communications, private and government databases, etc., can be at risk.

Companies need to be aware of quantum and the potential risk that it will bring so they can take actions today so that they are not hackable at some point in the life cycle of their products.

Nev Zunic

Chief technology officer, IBM data security services

The opinion of colleagues was supported by the manager of the Swiss division of IBM Research, Michael Osborne. He expressed the opinion that the era of quantum computing will mark the framework of the life cycle of modern cryptographic systems.

EOS to Buy $30M Worth Domain For Its Social Network

Earlier, CEO reported that his company will spent about $150M to develop Voice, and looks like "voice.com" purchase for $30M is one of the first steps
19 June 2019   146

The Block.One company, known for developing the EOS blockchain protocol, acquired a domain for its new social network Voice for $ 30 million. This is evidenced by documents published on the website of the US Securities and Exchange Commission (SEC).

Documents were provided by MicroStrategy, an analytical and mobile software provider. It follows the “voice.com” domain, registered in the GoDaddy domain name registry, was transferred to the EOS developer on May 30, 2019. After 2 days, Block.One officially announced preparations for the launch of a social network.

Block.one has made a smart strategic decision in choosing Voice.com to be the internet domain name for its new social media platform. The word ‘voice’ is simple and universally understood. It’s also ubiquitous — as a search term, it returns billions of results on the internet. An ultra-premium domain name like Voice.com can help a company achieve instant brand recognition, ignite a business, and massively accelerate value creation.

Marge Breya 

Senior Executive Vice President and Chief Marketing Officer, MicroStrategy Incorporated. 

The commercial model of MicroStrategy is based, among other things, on the accumulation and sale of such expensive domain names.

According to Block.One, the identification of users and the use of the EOS blockchain in the social network will help to avoid the massive influx of bots, which often affect other members of this niche. Earlier, CEO Block.One Brendan Blamer reported that his company spent about $ 150 million to develop Voice.