This company wants to invest $400 million to make Bitcoin “resistant to quantum attacks”

400 million dollars to protect Bitcoin from quantum risks?

Increasingly, we see the subject of quantum computing gaining momentum in the crypto sphere, with sometimes alarmist statements about quantum risks for Bitcoin (BTC). We will come back to this in more detail, but first, let’s focus on the case of the company MicroCloud Hologram Inc., which announced on Monday that it plans to invest 400 million dollars ” to upgrade the Bitcoin protocol to make it resistant to quantum attacks ».

In its press release, the company intends to develop a protocol “ based on a multi-layer hybrid cryptographic architecture » :

This protocol will introduce a parallel validation mechanism for post-quantum signature algorithms, complementing traditional signature algorithms, on the existing Bitcoin transaction structure. In this framework, users will be able to simultaneously use ECDSA and a quantum-resistant signature algorithm for a double signature, thus guaranteeing security redundancy even before quantum threats fully manifest themselves. This hybrid signature strategy not only strengthens the system’s resistance to attacks, but also provides sufficient transition time for network upgrades, avoiding the systemic risks associated with a one-time replacement.

💡 Could quantum computing bring down Bitcoin?

What is curious about this value proposition is that the company seems unknown to the battalion in the ecosystem. This is no coincidence, since MicroCloud Hologram initially specialized in holographic technologies, such as LiDAR solutions.

Listed on the stock exchange, the company presents another curiosity, namely the fact that it has completely collapsed since its introduction:

HOLO share price in monthly data

 

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While it is not a question of making a hasty judgment, these poor stock market performances, coupled with a reorientation of activity towards a fashionable subject, are reminiscent of another trend: digital assets treasuries (DAT). It will be necessary to see in the coming months whether we are faced with an isolated case or not, but we could indeed see it as a strategy to raise new funds by surfing on a topic of the moment, although no public declaration to the Securities and Exchange Commission (SEC) supports this hypothesis at the moment.

While the subject of quantum fascinates, we discussed it in our live last Thursday. Beyond the seductive titles, we also made it clear that there is not “one”, but “quantum risks”. Furthermore, let us remember that the community of Bitcoin developers did not wait for the increase in interest in recent months to get to work and that the subject is already being taken seriously.

In any case, we will be required to follow concrete developments on the migrations of blockchains towards “quantum resistant” models, as innovations in the sector progress.

🎬 Are quantum computers a threat to cryptocurrencies? With Charles Guillemet

 

Source: Press release, TradingView

Since 2021, I have devoted my free time to seriously educating myself on cryptocurrencies in order to acquire maximum knowledge and credibility. I often have the opportunity to conduct interviews with influential personalities in the blockchain industry. I also conduct in-depth analyzes on Web3 themes to offer exclusive content to Cryptoast readers.

Vincent Maire

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