Quantum eMotion Corp (TSX-V:QNC, OTCQX:QNCCF) has stated that it has filed a patent application for a new way to use a blockchain wallet that is protected by the QeM Quantum Random Number Generator (QRNG2). A hardware wallet is a piece of hardware used to store and handle secret keys for cryptocurrencies like Bitcoin and Ethereum in a safe way. The wallets are made to store secret keys away from the internet. This makes them less likely to be attacked by hackers than software wallets that are tied to the internet.
In a statement, CEO Francis Bellido said, “We continue to use our patented technology based on quantum electron tunneling in many different ways.” “Our quantum-protected blockchain wallet will be the first application of the program funded by Mitacs in collaboration with Dr Kaiwen Zhang at ETS (École de technologie supérieure, Montreal, Canada) for Blockchain applications of its QRNG technology.”
In recent years, the market for hardware wallets has grown because more people want safe ways to store cryptocurrency. But even hardware wallets can be attacked by skilled cybercriminals or by quantum computers in the future. A blockchain analytics business that keeps track of hacking says that hackers stole a record-breaking $3.8 billion worth of cryptocurrency around the world in 2017.
Future quantum computers could even break the security methods that protect most online communications, like those used for banking transactions, government communications, and personal data storage. Quantum eMotion’s patent application is important in this way. “Our quantum crypto-wallet will be seen as one of the safest ways to store and manage cryptocurrencies in the future,” said Bellido. “It will be a must-have for anyone who wants to keep their digital assets as safe as possible.”
Quantum eMotion’s technology meets the growing need for hardware security for connected products that are both cheap and effective. Using the fact that quantum physics can’t be predicted, a copyrighted solution for a Quantum Random Number Generator offers to protect high-value assets and important systems with more security.
