Postquant Labs announced the launch of Quip Network, a Bitcoin wallet that promises post-quantization protection by integrating signatures resistant to its technology via the Arch Network, an external layer of the underlying protocol that enables the linking of Bitcoin and smart contracts. The application is expected to be released in the first week of May.
At the core of Quip: WOTS+ signature scheme (Winternitz One Time Signature Plus). While the Elliptic Curve System (ECC) that Bitcoin currently uses is vulnerable to sufficiently powerful quantum computers, WOTS+ bases its security on hash functions, an architecture that is believed to be resistant to quantum attacks. Quip integrates its scheme into the Arch Network.
Richard Kirback, Chief Technology Officer, Postquant Labspointed out that this approach reduces the risk of theoretical attacks. In the current model, when a user submits a transaction, their public key is exposed on the network until it is confirmed within a block (10 minutes on average).
However, there are important technical differences when it comes to execution time:
- Postquant Institute: Quip says it manages exposure times in two-block cycles (approximately 20 minutes).
- Google Quantum AI: A report published on March 30 estimates that a quantum computer could derive Bitcoin’s private key in just one hour. 9 minutes.
If Google’s estimates are correct, a quantum attacker could act within the 20 minutes Quip leaves its keys exposed, raising questions about the overall effectiveness of the solution against high-performance attackers.
Postquant Labs’ main claim is that its solution avoids some of the most discussed paths in the community, such as the transition (BIP-361) that could freeze Satoshi’s BTC and fork (eCash).
By connecting with Arch, Quip will be able to provide protection against potential quantum attacks without changing the protocol, the Postquant Labs team said.
In that sense, Colton Dillion, CEO of Postquant Labs, argued: That method is more practical than waiting for Bitcoin updates: “Despite Satoshi himself speaking about the quantum problem, the Bitcoin community has been delaying a solution for years. “Developers say protocol upgrades could take five to 10 years, but Quip’s approach could provide similar protections right away.”
Meanwhile, as reported by CriptoNoticias, wallets powered by post-quantum technology are already in operation and in development. This is especially the case with the latest version of Trezor Safe 7.
Postquant Labs is also developing a post-quantum blockchain network
Postquant Labs projects in this direction are not just announcing wallets. In early April, the company launched a testnet (testnet) Blockchain network from Quip Network. Combining quantum computing and classical computingwas developed in collaboration with D-Wave, a company specializing in quantum computer annealing. More than 13,000 researchers have registered to participate.
According to an April statement, the network already has quantum attack-resistant wallets deployed on the network that are compatible with Ethereum and Solana. While support for Bitcoin continues to develop,.
In this way, the company’s projects, wallets and block networks, are presented as another option for post-quantum solutions that the ecosystem is discussing.
