Today at CryptoNewsZ, we are joined by entrepreneur, blockchain enthusiast, and crypto expert Johann Polecsak, CTO at QAN blockchain platform, CTO and co-founder of Centrum Circle.
CryptoNewsZ: Hello and welcome to CryptoNewsZ, Johann, our readers would love to know more about you and your journey which brought you into the blockchain space.
Hi, thank you very much for the opportunity.
Well, I got into the ecosystem like most techies did I think, and that is through mining. A friend of mine asked me if I could source GPUs every month because there was no supply. I said sure, because it was a significant amount, I felt pretty assured I could make a deal with a distributor. But then realized that there were no GPUs for sale at that moment in Europe. “Wow. This must be huge,” I thought. So, I started digging deep, it’s all hardware and software, so why not try it? We eventually bought some machines and never looked back from crypto since then.
CryptoNewsZ: QAN is building a quantum-proof, energy-efficient, and fast platform. Please tell us more about the QAN platform and its key features?
The crypto world is at a crossroads – it either continues to run its vital transactions on outdated, slow, archaic platforms like Bitcoin and Ethereum or it reforms and adopts a new platform which can provide a strong, stable, and economically viable base to accommodate the requirements and growth pattern of all industries actively using blockchain technology.
QAN is a quantum-resistant blockchain platform powered by blockchain fintech brand Centrum Circle. QAN uses Lattice based cryptography, making it resilient to quantum attacks that are expected to become possible within the next five years, and which all major crypto networks are vulnerable to. QAN is based on a Proof of Randomness (PoR) consensus mechanism, with verifiable pseudorandomness. It is a new development that is basically a generalization of Algorand’s algorithm, with added scalability. By creating a permissioned ledger, QAN allows much more energy efficiency and better sustainability, especially when comparing to PoW networks. When comparing to PoS networks, they are considered not biased due to wealth distribution and first mover advantage. With PoR, the process is random, therefore unbiased, and there’s no advantage for your wealth. Lastly, QAN offers Multi Programming Language support which helps mass adoption. Developers can write smart contracts in the language they already know.
CryptoNewsZ: Security features are inherent in blockchains which make them resistant to attack but do not make them totally immune. Do you think QAN’s fully quantum-resistant stack of security will usher in the much-needed security in the blockchain domain?
I always believe in showing a good example. In this case, it means we have to begin preparing for Quantum Computing related attacks right now, as the Quantum problem is closer than anyone would imagine. The issue, by the way, is actually a lot broader than the blockchain ecosystem. Every large enterprise and government is aware of the risk Quantum computing has to its data systems, and we cannot expect them to wait 5 years and adopt Quantum-resistant cryptography when the attack is so near. They need to start preparations at this very moment.
CryptoNewsZ: Quantum computing is the next generation computing machine that aims to make every work easy and fast; According to you, how will quantum computing impact blockchain technology?
Quantum Computing will force all cryptocurrencies to adopt new signing algorithms, as current ones (the ones used by Bitcoin and Ethereum as well) are proven to be vulnerable to signature forgery. Asymmetric cryptography relies on keypairs, namely a private and public key. Public keys can be calculated from their private counterpart, but not the other way around. This is due to the impossibility of certain mathematical problems. For instance, you would need to factorize a number that’s a product of large primes in the case of RSA, or calculate the multiplicand of the generator (that resulted in a public key) in the case of Elliptic Curves, which most blockchains and cryptographic systems use.
Quantum computers are more efficient in accomplishing this by magnitudes, and if the calculation is done the other way (we could calculate private keys FROM public keys) then the whole scheme breaks. This is proven and we only need more qubits and stability in these systems, which are continuously developed further. QAN released an ebook, Quantum Computing and Blockchain: The Definitive Guide, if you want to learn more about the topic.
CryptoNewsZ: What are your thoughts on the increased scalability and tremendous adoption of blockchain technology? Is the present rate satisfactory?
Scalability is one of the biggest problems our industry is facing. Over time, it will be addressed using off-chain methods built in a secure and safe way.
However, while scalability is a concern these days, I believe mass adoption doesn’t really depend on it. In fact, it has not started yet – because the backbone of the whole infrastructure is basically missing, and the UI / UX in the whole ecosystem is almost non-existent, if we inspect it from a regular user perspective.
If we want to bring blockchain closer to end-users, we need credible brands behind the movement, education about how it works and to be able to emphasize how and why it’s different from traditional systems.
Whether this is satisfactory, it is a subjective question. We at QAN are working hard to bring this technology closer to everyday people by helping the inclusion of blockchain at enterprise level.
CryptoNewsZ: Blockchain has immense power to unleash the potential in enterprises; according to you, how is QAN one step ahead compared to the existing players in the highly competitive industry?
We are in close relation with many enterprises (10+) from different industries, and what we clearly see that their Tech departments fancy blockchain and are mostly experimenting with it as private individuals. But when it comes to including the technology on the corporate level, things become difficult. The reason is that the current staff is usually busy with other tasks, the entry barriers are quite high (different hardware and network architecture, different execution model, new programming languages etc.), and the additional HR costs reach the level these companies mostly are not willing to take if there is no direct, calculable profit for establishing a separate Blockchain Development Department.
How we combat these barriers is that we give the current staff education, easy-to-use tools, combined with QAN Platform’s ability to write smart contracts in any major programming language they already know.
This reduces like 90% of the overhead (which equals 90% of otherwise “wasted” time), and enables the company’s existing developers to start experimenting and working with blockchain right away.
CryptoNewsZ: Any parting advice to novices and young entrepreneurs who want to start their careers in the blockchain industry?
Sure, our (harsh) advice is not to waste time learning about 20 different platforms to find out which will give you the least overhead to start, and cause you compromises on many other sides.
Wait for QAN to release the beta and testnet, and start experimenting without the hassle, we will provide you a much smoother learning curve, and give you the satisfaction which you are looking for.
Develop in (almost) any of the languages you already know, and spin up a “blockchain network” with a click of a button to start right away.
Team CryptoNewsZ thanks you for sharing your valuable insights and time with us, Johann and wish you tremendous success for the future.