Mentioned:
BTQ Technologies wants to protect Bitcoin from quantum computing threats. And they’re launching a new blockchain network to do it.
What’s happening:
- BTQ Technologies (NASDAQ: BTQ) has officially launched the Bitcoin Quantum testnet
Why it matters:
- This is one the first Bitcoin forks to be launched that is purpose built to prevent potential quantum computing threats
Going deeper:
- The Bitcoin Quantum testnet is open to miners, developers, researchers and users to audit the cryptography, run nodes and test quantum safe transactions
- BTQ Technologies’ Bitcoin Quantum testnet is leveraging NIST approved Module-Lattice Digital Signature Algorithm to replace Bitcoin’s existing Elliptic Curve Digital Signature Algorithm which is not safe from quantum computing attacks
The intrigue:
- BTQ Technologies has publicly stated they plan to run a Bitcoin Quantum mining pool to generate revenue and hold Bitcoin Quantum tokens directly as an asset
