The first IEO to launch on BitBay exchange is poised to commence its token sale on January 20. QAN, an Estonia-based crypto project that proclaims to be the world\u2019s first quantum-resistant blockchain, went live on the Launchpad on December 16.\r\n\r\nBitBay will offer investors the opportunity to purchase QARK tokens directly via Euro, Polish Zloty, USD and GBP. The token sale represents some two-thirds of the total supply of 333,333,000 QARK tokens, with tokens issued as ERC20s on the Ethereum platform until the QAN platform itself launches.\r\nBitBay Makes a Grand Entrance\r\nOne of Europe\u2019s most popular cryptocurrency exchanges, BitBay is somewhat late to the IEO party: Binance, Huobi, Okex and a number of other exchanges have already launched their own IEO platforms, with mixed success. Unlike Initial Coin Offerings (ICOs), IEOs are administered by exchanges on behalf of startups seeking to raise finance with newly-issued tokens. There have been several hundred IEOs to date, with Binance\u2019s BitTorrent IEO the best-known so far. IEOs are viewed as a progressive alternative to ICOs, which have been on a downward trajectory ever since the 2017\u201318 boom.\r\nFacing Down the Threat of Quantum Computers\r\nThe threat posed by quantum computers has long made crypto holders uneasy. The idea that such advanced computational devices could break existing public key cryptography and fundamentally undermine blockchains is not new. Indeed, it was nourished by a recent breakthrough by Google, which used a quantum computer to crack a code in minutes \u2013 one which even sophisticated super computers would take thousands of years.\r\n\r\nIn the face of Google\u2019s so-called \u201cquantum supremacy,\u201d the QAN platform styles itself as a novel solution, its signatures and hashes safeguarded by lattice-based post-quantum cryptography. The newly-developed Proof of Randomness (PoR) mechanism is based on the principles of Algorand\u2019s consensus algorithm but benefits from a higher degree of scalability. As outlined in the recently updated QAN technical whitepaper, \u201cOn the PoR-based QANplatform, attackers need to purchase a non-refundable license to participate in block validation. Should the attacker fail, this amount will be lost, which makes an attack a lot less appealing.\u201d\r\n\r\nAccording to its developers, QAN\u2019s security protocols are multi-pronged and quantum-proof by design. Smart contracts are also run in multiple developer languages and GDPR-friendly financial transactions and industry processes are facilitated at top speed.\r\nThe Looming Threat of Quantum Computing\r\nIt is difficult to know just how much danger is posed by quantum computers, or how imminent the threat is. But as Johann Polecsak, CTO of QAN, told Forbes in a recent interview, \u201cIn cryptography, it\u2019s best to prepare for the worst.\u201d At the very least, QAN\u2019s blockchain platform is the first to actively tackle the issue, however there has been attempts to introduce other solutions, such as Quantum Resistant Ledger (QRL).\r\n\r\nAs well as resolving the quantum problem, the platform touts itself as an upgrade on legacy blockchain protocols such as Bitcoin, specifically pertaining to speed, scalability, and energy efficiency.\r\n\r\n\u201cQANplatform was designed from the ground up to battle all barriers currently holding back mass adoption of blockchain,\u201d says Polecsak. \u201cTop-notch security, high TPS, low energy consumption and ability to code in language programmers already know. Enterprises will be finally able to integrate this technology without financial or HR overhead, and this is how blockchain will reach the general public.\u201d\r\n\r\nBitBay may have been late to the IEO party, but their debut token sale looks to have been worth the wait. It will take a little longer, though, before QAN\u2019s ability to withstand quantum computers can be tested in the wild.