QANX - Worth Buying?

You might have heard that advances in Quantum Computing could at some point in future threaten the security of even Bitcoin: the basic idea being that super fast computers will eventually be able to crack public encryption keys.

QAN is a project which is aiming to get ahead of this threat by developing a 'quantum resistant hybrid blockchain'.

The project in itself is just another blockchain, making all the usual claims and having all the usual aims: being fast, scaleable, interoperable, developer friendly, and allowing for the development of various dapps on top, but with the additional promise-boost of 'qauntum level security' - so cryptography which is even more secure than Bitcoin's.

It is very early days for this project, so there is nothing actually built on it yet, even the wallet is still in its testing phase, but anything aiming to be 'ahead of the game' when it comes to blockchain security is worth a look IMO.

What is a Quantum Resistant Blockchain?

To be honest they lost me here - I skimmed through their Ebook on the topic which is pretty enough but all I managed to glean from it was this......

They use lattice mathematical structures which allow for the obfuscation of data through homomorphic encryption.

And my brain-thing comprehends this as follows: 'eh?'.

Most of the discussion was around Quantum computing and the debates about whether it has the capacity to crack Bitcoin's encryption and it read more like an advanced math project for fun rather than an outline of a project that's going to produce anything that's going anywhere anytime soon!

THE QANX token

This is the current 'pre-release token' as far as I can gather, which I'm assuming will be swapped for the actual QAR token which will be the main token when the project goes live, but at the moment QAN is just another Binance token which you can buy on Panckake swap....

There is an option to buy and stake QANX from October the 13th for a 60% return, you simply stake your QANX and get more of the same tokens dropped on you. You need a minimum of 5500 QAN to qualify for the drop.

HOWEVER, given the recent run up in price, there's a fairly good chance the QAN price could drop by 60% again anyway, meaning you might well be better off just waiting and then buying some more later on in the year, or early on next year if you want to get hold of some more.

Final thoughts: QANX worth buying?

I stumbled across this token a few months back on someone's top picks of alt coins - it looked interesting, so I picked a few up and it has gone up in price, but on further review I'm thinking this just looks like another 'promise project' which may not be going anywhere.

Besides, having read around the Quantum computing topic a little I'm not convinced that Bitcoin is going to get hacked by a Quantum computer anytime soon anyway!

Still, if yer interested, it's easy enough to pick up some QAN on PancakeSwap, although buying is definitely NOT financial advice.

Posted Using LeoFinance ^Beta