- Partnership with Arqit, one of the top projects in quantum resistant technology.
- Emergence of quantum computers poses a challenge to cryptographic mechanisms.
NEO blockchain project’s NEO Global Development (NGD) arm, which has been researching quantum-proof technology under the moniker NeoQS, has partnered with Arqit, a project specializing in quantum-resistant technology.
Partnership to Increase quantum-resistant technology by R&D
As per a Medium post, published on October 17, 218, NEO has joined forces with Arqit on quantum resistance research with a goal to foster rapid development in the blockchain industry.
Arqit is a non-profit blockchain project, determined to develop a quantum resistant DLT system for organizations with the help of quantum encryption – which is being developed in association with a consortium of European universities and companies.
It’s worth pointing out that Arqit aims to achieve the said target by bringing enhancements to the open source Corda code base and implementing the unique Proof of Performance Protocol for the very first time.
Sharing his optimism concerning the partnership, Peter Lin, director of R&D of NEO Global Development said,
“As a pioneer of blockchain technology and one of the biggest blockchain platforms around the globe, it is important to NEO that we remain at the forefront of technology in areas like post quantum cryptography. We are therefore pleased to partner with Arqit and look forward to a collaboration to help to make all blockchain communities safe in a post quantum environment.”
China based NEO community laid out its purpose in a Medium post published last month, which mentioned that currently the focus is on the execution of NF strategies surrounding technological research and development (R&D), marketing, community development, and ecosystem growth.
The team recently tested NEO-CLI 2.9.0 and added documentation for the same. Notably, the new version uses the Akka framework, which is efficient enough to overcome the limitations of the traditional object-oriented programming.
Win-win Situation for Both
The newly christened partnership will help NGD and Arqit extend their collaboration to develop the quantum safe technology in the distributed ledger technology industry.
David Bestwick, CEO of Arqit said,
“As one of the biggest blockchain projects and ecosystems in the world NEO has an important thought leadership role and we are pleased to be able to share thinking and development with them on the future of quantum safe blockchain business.”
At press time, NEO sits comfortably at 15th position according to CoinMarketCap, trading at $16.68.