Is future anti-quantum the next wealth code after BTC? | Roast Star Selection

If a respected scientist says something is possible, he is almost certainly right. But if he says something is impossible, he is very likely wrong.

This law is one of the famous Clark's three laws, explaining the laws of science and culture.

  The Origin of BTC: Financial Arrogance and Negligence Creates a Trust Trap

It is a dreamer's paradise. I don't know how many upstarts have stepped into the throne of financial giants from here overnight. Here, the power and extravagant lifestyle of financial giants have inspired countless ambitious young people. passion, it is - Wall Street.

The first president of the United States and founding father George Washington was sworn in here, the world-famous Bill of Rights was passed here, and it is also the "birthplace" of the New York stock market. In front of the memorial hall stands a full-body bronze statue of Washington. This heroic and mighty general stared at the bustling crowds on Wall Street with piercing eyes. I don’t know if he has realized at this time that the upcoming battle on Wall Street, Its intensity and cruelty are no less than the gunfire of that year——

After the 21st century, the proliferation of financial derivatives on Wall Street and the US real estate bubble triggered the US subprime mortgage crisis and led to the 2008 financial crisis.

At the same time, many financial workers on Wall Street still show signs of corruption and corruption, and the Federal Reserve injected liquidity into the financial system to stabilize the market. Wall Street packs junk-level loans, cuts them into pieces and sells them again, earning considerable profits. Financial system practitioners are still in crisis with high salaries and high bonuses. Their greed and evil have aroused the anger of the public.

The people have completely lost confidence in the government and the financial industry. On September 17, 2011, thousands of demonstrators gathered in New York, Manhattan, planning to turn Wall Street into Egypt's Tahrir Square.

"Occupy Wall Street" is just a portrayal of people venting their anger on the financial system represented by Wall Street. The complexity, closure and monopoly of the financial system is an important reason for this phenomenon. The financial system urgently needs to be reformed to restore the essence of financial services to the real economy.

The original sin and long-term consequences of non-decentralized finance

The Austrian school points out that Keynesianism is sophistry and short-sighted. The government issues money to create inflation. It is an original sin, and in the long run, the harm outweighs the benefit.

Richard Cantillon, a representative of the Austrian School, proposed the "Cantillon Effect". He pointed out that the government's currency issuance must be self-interested at the expense of others. Returning to the real world, there is a process from the government issuing currency to inflation being perceived by the market, and rising prices. The new currency does not circulate equally to everyone in an instant, but flows from the first person to the second person and then to the infinite latter. As long as the government issues more currency, those who get the money first will benefit, and those who get the money later will be forced to bear the loss. And who gets the money first? Only the rich. Therefore, as long as the government prints and distributes currency, original sin will occur and the gap between the rich and the poor will be exacerbated.

In addition, the root cause of the economic depression is the inflation caused by the government's currency issuance, so using inflation to pay for the economic depression is simply like "fighting poison with poison". The commodity prices of the first industry where the new money circulates will rise first, and then the prices of other commodities will gradually rise. This will give entrepreneurs and consumers in the first industry the illusion that it is profitable. So entrepreneurs in the first industry will vigorously expand, and consumers will buy frantically, just because it is profitable. When the new currency penetrates into the whole society, everyone finds that there is a bubble, and it will naturally burst. So it fell into a depression period of cessation of production and cessation of consumption.

In fact, Keynes also saw the long-term disadvantages, and left a famous quote: In the long run, we are all dead (in the long run, we will all die). He also knows that in the long run, the consequences of printing money will come sooner or later. But he emphasized that the immediate problems must be resolved first.

Inflation caused by the government, when the global financial crisis caused by Wall Street financial elites swept people's lives, some global technical elites thought about and tried to build a monetary order without government-issued currency. He came up with a technical solution to realize that human society does not need the participation of financial institutions, and completely solves the ultimate solution to the kidnapping of the whole society by Wall Street.

The financial crisis is an all-round fission that affects almost all countries and all levels of society in the process of accelerated integration of the world economy and finance. It reflects people's deep reflection on the existing economic, financial, and even social development models.

On January 3, 2009, the headline of "The Times of Earth" used "Chancellor onbrink of second bailout for banks" as the headline, saying that the British Chancellor of the Exchequer was on the verge of implementing the second round of bank bailouts, and the Bank of England would carry out a bailout for domestic banks. Financial bailout, that is, the government prints money to lend money to banks. At this time, a person who called himself Satoshi Nakamotonotorious built a digital cryptocurrency, the first genesis block of the Bitcoin system, and wrote this news into it. Some people believe that Satoshi Nakamoto invented Bitcoin to protest the inflation caused by the government's excessive money issuance.

The BTC we missed in those years: not enough knowledge to dare to do crazy things

During the financial crisis, "Satoshi Nakamoto" posted the white paper of the Bitcoin system (a peer-to-peer electronic cash system) on a secret cryptography discussion group on October 31, 2008 New York time. The white paper fully expounds the principles of Bitcoin and his views on virtual currencies.

The characteristics of Bitcoin: The first thing is "decentralization", which is particularly consistent with the voices of people at that time. Secondly, Bitcoin is a virtual currency, a digital currency, which has a fixed circulation and no inflation. In addition, its birth also solves the trust between people. People cannot tamper with the code at will to resist the subprime mortgage crisis and financial crisis like corrupt officials and financial practitioners, to protest the government’s excessive issuance of money to cause inflation, to avoid history from repeating itself, and to correspond to the most affected financial industry at that time.

As the world learns more about Bitcoin, its demand continues to rise. At present, some countries have passed legislation to recognize the legality of Bitcoin, and this trend continues.

BBS Bank 2017-2020 True Fragrance Law

In some small countries with serious inflation, the use of Bitcoin can well preserve the asset value of citizens, so this cryptocurrency with natural deflation characteristics has become an alternative currency for small countries.

In 2021, Bitcoin is different from the centralized virtual currency issued or controlled by a specific organization, and it will open up the wide application of the second-generation Internet. As of the date of writing, Bitcoin has exceeded 30,000 USDT. , Blockchain has brought people more imagination. In the future, Hayekian romantic feelings may embrace each of us in various innovative ways.

Is the double insurance of technology reliable?

Bitcoin is now considered one of the safest cryptocurrencies. Blockchains such as Bitcoin and Ethereum use classical cryptography. Among them, Bitcoin uses a double SHA256 algorithm, which makes it an extra line of defense compared with the security systems used by banks and Alipay. Cryptography endows encrypted currencies with security and indestructibility. .

How hard is it to brute force a Bitcoin private key?

The total number of private keys for Bitcoin is theoretically "2 to the 256th power". "10 to the 77th power" is "10 to the 37th power" times larger than "10 to the 30th power", a total of 37 zeros. In the Bitcoin private key set that is "10 to the 37th power" times more than the amount of sand on the earth, trying one by one to crack the private key corresponding to a certain address is simply harder than finding a needle in a haystack.

This is why many people say, "Bitcoin is the first time through technical means to ensure that personal private property is sacred and inviolable."

Note: The actual value of the total number of private keys is slightly lower than the above theoretical value, because a small number of private keys are not available, but the impact on the total is negligible.

There is a phrase in English called "canary in a coal mine", which literally translates to "Canary in a coal mine", but its interpretation is a harbinger of danger.

Why do canaries appear in coal mines? Because the canary used to be the siren in the coal mine. Due to large-scale coal mining, toxic gas will be produced in the mine at any time. Because it is colorless and odorless, it is too late for the miners to find out. But the canary is more sensitive to harmful gases than humans, so the miners brought it into the coal mine. When it stops singing or faints, a small amount of gas has been produced in the mine. Therefore, the canary became a harbinger of danger in the mine.

To a certain extent, the birth of the quantum computer is a symbol of the canary. The encrypted distributed ledger is actually "unhackable" under normal circumstances, and its immutability and unparalleled security are widely accepted. Laying the foundation of public trust in digital assets and facilitating mass adoption. However, the advent of quantum computing could jeopardize the integrity of public-key cryptography, the backbone of blockchain security.

Launch: Countdown to the Anti-Quantum Era

The milestone of "quantum supremacy" could be reached at any moment, as quantum computers outperform classical computers at specific tasks. (A quantum computer is any device that performs calculations using the principles of quantum mechanics. To store and manipulate information, ordinary computers use binary units called "bits," which can represent only one of two possible states, 0 or 1. Quantum machines rely on qubits, which can be both a 0 and a 1 at the same time. This phenomenon, called superposition, allows these devices to perform certain tasks much faster than "bit"-based devices.)

While the potential applications of quantum computers are vast, one of the most relevant applications in the context of blockchain technology and cryptography is their ability to run specific algorithms much faster than any existing supercomputer. One of the most widely discussed putative use cases is running the famous factorized Shor's algorithm, which beats many contemporary encryption techniques by a few blocks.

One potential risk stems from the fact that blockchain security relies heavily on one-way mathematical functions (that is, functions that are easy to run but harder to reverse). These functions are used to generate digital signatures and verify transactions on the ledger. Criminals equipped with functional quantum devices will be able to perform reverse calculations at a much faster rate, which will allow them to forge signatures, impersonate other users and gain access to their digital assets. When mining, such a malicious actor could take over the process of updating the ledger, thereby manipulating transaction history and double-spending coins.

Quantum computing will have an impact on nearly every area of ​​application of cryptography. Our current era is entering the era of quantum computers from the era of classical computers. As far as blockchain technology is concerned, a systemic shift may be expected: “Quantum computers will redefine not only blockchain cryptography, but anywhere cryptography is applied, including something as simple as an online banking website.

Designers of encrypted systems should start taking precautions against this threat immediately. One solution might be to replace traditional digital signatures with quantum-resistant cryptography, security algorithms specifically designed to withstand attacks from sufficiently powerful quantum computers.

In August 2017, in order to support the research and application of anti-quantum computer cracking algorithms in the future, Jin Liu and mathematician Prof. Jintai Ding planned to establish ABCMint and registered in Encryption Valley near Zurich, Switzerland. The vision of ABCMint is to support the research and application of anti-quantum computer cracking algorithms around the world. The research includes supporting mathematicians in the discovery, cracking, and improvement of algorithms around the world.

Its currency ABC: a digital currency that is resistant to quantum computer cracking, the underlying algorithm and mining procedures are completely different from Bitcoin

The underlying algorithm: Rainbow Signature Rainbow Signature

Mining program: polynomial mathematical equation ABCardO

The biggest difference between ABC and all digital currencies is the use of the rainbow signature algorithm.

Rainbow signature is the world-renowned and longest-running anti-quantum computer cracking digital signature, and the most stable digital signature recognized by the global anti-quantum computer cracking algorithm industry. Rainbow signature is also the only digital signature that has held a patent from the first day and was selected in the third round of all the anti-quantum computer cracking signature standards issued by NIST, and has not given up the patent.

The digital currency in the next ten years may be based on algorithms that quantum computers cannot crack. If this judgment is correct, then it may be in the next ten years: all digital currencies will move from the era of elliptic curve signatures to anti-quantum computer cracking The age of algorithms.

The anti-quantum market is still small, and the attention is not enough. However, as its value is gradually discovered by people, it may show explosive growth in the next few years.

We believe that the next ten years of digital currency will be the decade of digital currency that is resistant to quantum computer cracking. 300 billion US dollars, reaching or exceeding one trillion US dollars.

before the quantum age

Layout digital currency that is resistant to quantum computer cracking

Be open and believe that anything is possible, but don't bet big.

You can believe in Bitcoin, believe in possibility.

However, don't be all in on your beliefs in business.

Finally, explain several logics that are important to cryptocurrencies:

The courage of the martyrs + the wisdom of the pioneers.