BTQ Technologies Launches BitcoinQuantum Testnet to Secure $650 Billion in BTC Assets
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
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Source: PRnewswire
- Testnet Launch: BTQ Technologies has launched the BitcoinQuantum testnet on the 17th anniversary of Bitcoin, aiming to protect nearly $2 trillion in BTC assets, particularly addressing the quantum attack risk to 6.26 million BTC valued at approximately $650 billion, marking a significant advancement in quantum security.
- New Signature Algorithm: BitcoinQuantum replaces Bitcoin's ECDSA signatures with ML-DSA, a NIST-standardized algorithm, ensuring the protection of national security systems and demonstrating BTQ's foresight and technical capability in addressing future quantum threats.
- Call for Industry Participation: The testnet provides an open environment for global participants to test and validate quantum-resistant solutions, enhancing the overall security of the crypto industry in the quantum era and increasing BTQ's influence in the sector.
- Diverse Revenue Model: BTQ plans to operate a BitcoinQuantum mining pool, projecting the accumulation of approximately 100,000 BTQ tokens in the first year, leveraging this strategic asset to capture market opportunities arising from the migration to quantum-safe infrastructure, further solidifying its leadership in the crypto market.
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About BTQ
BTQ Technologies Corp. is a global quantum technology company focused on securing mission-critical networks. The principal activity of the Company is the development of computer-based technology related to post-quantum cryptography, particularly as it applies to blockchain and related technologies, and their protection from the emerging security risk of quantum computing. Its products include PQScale, Keelung, Kenting, Preon, QPoW, QRiNG, and QByte. Keelung is a user-friendly toolkit for developing zero-knowledge proofs, featuring a domain-specific language embedded in Haskell and a compiler. Kenting specializes in hardware acceleration tailored for zero-knowledge computation applications. PQScale is a scaling mechanism for lattice-based post-quantum signatures, leveraging zero-knowledge proofs to compress digital signatures to achieve speed and cost savings. QPoW is an energy-efficient, post-classical consensus algorithm that uses NISQ hardware to authorize blockchain transactions.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
