• Quantum Resistance Corporation (QRC) and RedSense partner to provide security for cryptocurrencies, leveraging their combined expertise.
• The partnership will result in a unique security program and market offering aimed at protecting digital currencies from quantum computing threats.
• In 2022, more than $3.8 billion worth of digital coins were stolen from digital asset holders; cryptocurrency users face significant vulnerabilities due to traditional blockchain technology.
Quantum Computing Advancements Present Threats to Cryptocurrencies
Cryptocurrencies are facing the imminent threat of quantum computing advancements that could enable malicious actors to steal or destroy digital assets with ease. To help manage this risk, the Quantum Resistance Corporation (QRC) – post-quantum security experts – have announced a strategic partnership with RedSense, a leading threat intelligence and cybersecurity firm.
The QRC and RedSense Partnership
RedSense will provide network security and management services for the QRC, which will then be used to protect cryptocurrencies and developers using the Quantum Resistant Ledger (QRL) post-quantum secure blockchain. Together they will offer a unique security program and market offering that leverages both companies’ expertise in order to help prevent attacks on cryptocurrencies before they happen.
Traditional Blockchain Technology Presents Security Risks
Popular cryptocurrencies such as Bitcoin, Ethereum and Solana are hacked on an almost weekly basis, inflicting significant financial losses on users and further damaging the mainstream perception of cryptocurrency. In 2022 alone, Chainalysis reported that over $3.8 billion was stolen from digital asset holders; these large losses reflect the significant vulnerabilities posed by decentralized finance protocols when relying on traditional blockchain technology for security purposes.
RedSense & QRC’s Program Will Help Secure Digital Currencies
Craig Clement of the QRL Community notes: “Without having a centralized authority to dictate policy, only a sufficiently advanced intelligence program such as what RedSense and the QRC provide can give some assurance to participants in an ecosystem that sites/services are adequately secured.“ With this new program offered by RedSense & QRC, cryptocurrency users may have access to better protection against malicious actors trying to exploit weaknesses in existing blockchain technology.
Conclusion
As quantum computing capabilities continue advancing rapidly, it is more important than ever that cryptocurrency users take proactive steps toward ensuring their investments remain safe from attack or theft; this new partnership between RedSense & QRC should prove invaluable in helping secure these funds moving forward.