Quantos

README

THIS REPO IS BEING SPLIT INTO DIFFERENT REPOSITORIES TO MAKE THE DEVELOPMENT MORE MODULAR. SOME OF THE CODE HERE IS OUTDATED. THE P2P STUFF IS HAVING ITS OWN REPO NOW. WILL POST THE UPDATE ONCE THE SPLIT IS 100% DONE WITH REPO LINKS OR YOU CAN CHECK THE OTHER PUBLIC REPOS HERE.

HELP WANTED

While Quantos network is the work of one individual currently, I can use all the help I can to make it faster. The project evolves daily and would like other people input. Here is what I am looking for:

• UX Interface experts (python tk, c++, golang, javascript... not set on the wallet programming language yet)

• Flexible (not gymnastics!) Programmers with prior CORE blockchain development experience (CORE is important here... layer 2-3-4 or solidity programming don't count)

• Technical writers (to help communicate the project idea better)

• Algorithm writers (yea thats my job but a hand would be cool)

• If you are a top dev, got skills and a track record, let me know!

email: dev@quantos.network

NOTE: There is not website yet lol no time for that so yea that could be helpful too :P

QUANTOS (QBIT)

THE LOW-FEE UTILITY CHAIN OF TOMMOROW

WHITE PAPER V 1.0 (WIP)

GITHUB URL: https://github.com/quantosnetwork/Quantos

PREFACE

Since the advent of blockchain, especially since utility chains exists (ethereum the king of them all), a lot of applications were found for blockchain technologies. Virtually every area and industry can find utility in the new ways of doing things it did provide us.

Some of those applications were life changing for a lot of people and in a good way. Starting with the democratization of cryptocurrencies (tokenization) up to metaverses and nfts.

Adoption of blockchain technologies is doing pretty well since 2021, of course there are people on both side of the fence: advocates and antagonists. Each "clans"are having their reasons and arguments, but recent surveys shows that the society is heading toward blockchain adoptions, and so more each day that passes.

Here are some recent (Oct 2021) statistics from a survey done by Deloitte.

The survey results show that 53% of the global organizations view blockchain as one of their top 5 strategic priorities. Deloitte’s Blockchain Statistics 2019 further indicate that this is an increasing trend, with only 43% of the respondents feeling the same in the prior year. 

... Only 3% of the senior executives view blockchain as not important over the next 48 months. 

(Source: Deloitte)

... 83% agree that there is a compelling business case for blockchain

(Source: Deloitte)

32% of companies are in the development stage of their blockchain project.  10% were in the pilot phase, with 15% already in the going live stage. 20% were in the research phase, 7% had paused the project and 14% had no involvement. (Source: PwC) The market valuation of blockchain technology is expected to reach $25 billion by 2025. (Source: Globe News Wire)

Companies view blockchain as a strategic priority. They agree that it is the future of the industry and unless they don’t keep up with the times, they will lose competitive advantage. Nonetheless, fees, regulatory issues and all of the logistics of implementing the technology are preventing them from taking the next step. There is also a lack of trust in this new and revolutionary technology. Some are skeptics, feeling that blockchain is overhyped or that it will disrupt their industry.

That doesn’t change the fact that spending on blockchain solutions is increasing and both governments and private companies are investing.  Quantos wants to solve part of these problems by offering a low-fee and easy to use technologies that bridges current technologies and improve them so it doesn't handicap the evolution of blockchain and the abilities of companies already working on projects to continue the way they were doing up to this day. One problem that is widespread since the advent of fintech and that surprisingly nobody really addresses is security. One would think it would be the top problem when we are talking about storing trillion of dollars in value in a decentralized environment. To show the scope of current security isues here is a list of hacks that happened in the last few years.

THE BIGGEST HACKS

Here are some of the biggest hacks in the recent years and the different reasons why they happened.

(source: https://www.hedgewithcrypto.com/cryptocurrency-exchange-hacks/) The biggest of them all happened in 2016 with a value of about $4.5B in stolen bitcoins. The story is available here: https://www.reuters.com/technology/us-arrests-couple-allegedly-laundering-45-bln-crypto-tied-bitfinex-hack-2022-02-08/ .

WHY FINTECH CAN STILL BE HACKED IN 2022

As we can see even in 2022, nobody is really safe and hackers are getting more creative than ever. But what is the real issue and why, with all the security experts and white hat hackers does it still continue to happen?

• 1 Rogues employees with access to important parts of the system.

• 2 Smart Contracts honest mistakes from developers due to the complexity of the systems.

• 3 Intellectual laziness (per example re-entrancy attacks have been known for a while as well as ways to prevent them).

GETTING READY FOR THE FUTURE

While there are still threats to address immediately, technology evolves fast and so does hacking methods, especially when money is involved.

The next era in technology which is coming within the next 5-10 years will put new actors in the game in the shape of ultra-fast quantum computers with the ability to solve problems / hack into algorithm at a pace never seen before. While quantum computing is a breakthrough and can be very useful in industry involving research, it can also be a double edged sword for today's technologies.

A few years ago, quantum computers were merely a hypothetical threat. Nowadays, its getting more real each day. The NIST (National Institute of Standards and technology) used to say in about 20 years or less, however at the pace it's going it might be way sooner. Here is an excerpt we can read on the post-quantum page of the NIST: The question of when a large-scale quantum computer will be built is a complicated one. While in the past it was less clear that large quantum computers are a physical possibility, many scientists now believe it to be merely a significant engineering challenge. Some engineers even predict that within the next twenty or so years sufficiently large quantum computers will be built to break essentially all public key schemes currently in use. Historically, it has taken almost two decades to deploy our modern public key cryptography infrastructure.  Therefore, regardless of whether we can estimate the exact time of the arrival of the quantum computing era, we must begin now to prepare our information security systems to be able to resist quantum computing. (source: https://csrc.nist.gov/projects/post-quantum-cryptography)

What does it have to do with fintech and blockchain technologies?

Trying to stay on the non-technical side of the edge, everything we know about cryptography and security and use everywhere (including fintech and blockchain technologies) are cryptographic curves and public / private keys. If those become easy to hack, then everything is at risk and obsolete. Which is why it is important to be prepared, especially when part of the world economy relies on fintech nowadays.

SHOULD I FEAR QUANTUM TECHNOLOGIES?

In short No. Even if the issue is not widely discussed in the open, a hand-load of scientists are already working on finding solutions. Thanks to the NIST who has initiated a process to solicit, evaluate, and standardize one or more quantum-resistant public-key cryptographic algorithms, we already know and can use some of those solutions today to make our technologies more secure now and tomorrow. The algorithms that are evaluated are available on the NIST website at the following link: https://csrc.nist.gov/projects/post-quantum-cryptography/round-3-submissions We are at round3, which means that those are the algorithms that have been tested and are very likely to protect us in the future.

QUANTOS BLOCKCHAIN : MERGING SOLUTIONS WITH CURRENT TECHNOLOGIES

Quantos is a project that was thought about in 2018 and did evolve with time to become Quantos Networks. Quantos like the name suggests is closely linked with quantum technologies. The "OS" part stands for "Operating System".

(this is a work in progress...)

Documentation

Overview

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