Bulletproof Security for Cryptocurrency Wallets
On April 18, 2024, Quantum eMotion Corp. (TSXV: QNC) (OTCQB: QNCCF) (“QeM” or the “Company”) proudly announced the submission of a PCT patent application for a groundbreaking method to operate Blockchain Wallet. This method harnesses the unparalleled security offered by the QeM Quantum Random Number Generator (QRNG2).
By utilizing a hardware wallet, which acts as a physical stronghold, the sensitive private keys essential for cryptocurrency access and management (such as Bitcoin or Ethereum) are securely stored offline. This offline storage mechanism provides a robust defense against cyber threats and hacking endeavors, offering a significant advantage over internet-connected software wallets.
Cryptocurrency wallets heavily rely on extensive series of numbers known as keys. Various key generation schemes, such as ND and HD, exist, each with its own set of advantages and disadvantages. Quantum eMotion’s innovative technology addresses the challenge of mismatched key generation schemes by intelligently selecting the most suitable scheme based on cost value comparisons. Furthermore, by integrating Quantum eMotion’s QRNG technologies, a blockchain wallet that combines the benefits of true random number generation with intelligent key generation scheme selection is now accessible to consumers, showcasing an unparalleled level of functionality.
Developed in collaboration with Dr. Kaiwen Zhang at ETS (École de technologie supérieure, Montreal, Canada), Quantum eMotion’s technology is currently pending patent approval globally. The patent application, filed under the Patent Cooperation Treaty with a priority date of March 30, 2023, allows for international patent protection in over 150 member states for 30 months from the priority date. This grants Quantum eMotion international pendency for the technology until September 30, 2025, after which national pendency will continue in selected countries and regions.
Francis Bellido, CEO of Quantum eMotion, emphasized the significance of secure technology in the face of the resurging interest in cryptocurrencies. He highlighted the company’s commitment to deploying quantum electron tunneling-based technology across blockchain applications to address security concerns associated with cryptocurrencies.
A recent report by Allied Market Research projects substantial growth in the global hardware wallet market, estimating a value of \(3.6 billion by 2031 with a CAGR of 23.7% from 2022 to 2031. Despite the enhanced security features of current hardware wallets, they remain vulnerable to sophisticated cyber threats and the looming danger of quantum-computer attacks. In the previous year, cybercriminals managed to steal a staggering \)3.8 billion in cryptocurrency globally, underscoring the urgent need for enhanced security measures.
Quantum eMotion aims to meet the increasing demand for affordable hardware and software security solutions for connected devices. Leveraging its patented Quantum Random Number Generator, the company is at the forefront of classical and quantum cybersecurity solutions, offering heightened protection for high-value assets and critical systems.
The company’s target sectors include Financial Services, Healthcare, Blockchain Applications, Cloud-Based IT Security Infrastructure, Classified Government Networks and Communication Systems, Secure Device Keying (IOT, Automotive, Consumer Electronics), and Quantum Cryptography.
For more information, please contact:
Francis Bellido, Chief Executive Officer
Tel: 514.956.2525
Email: [email protected]
Website: www.quantumemotion.com
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This press release may contain forward-looking statements subject to known and unknown risks and uncertainties that could lead to actual results differing materially from the targeted results. Such risks and uncertainties, as described in the Corporation’s periodic reports and filings with securities regulatory authorities, should be duly noted.