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Quantum Physicists Are Working on ‘Unbreakable’ Cybersecurity Systems

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Prof Ping Koy Lam

Professor Ping Koy Lam

A group of physicists in Australia’s capital city of Canberra are looking away from crypto-based mathematics encryption to work on encryption based on the laws of physics, or more specifically – quantum physics. This form of encryption is deemed ‘unbreakable’.

A group of physicists at the Australian National University (ANU) are hard at work with quantum cybersecurity solutions that potentially help develop ‘unbreakable encryption’.

The endeavor is borne from QuintessenceLabs, a company created in 2008 after ANU researchers discovered quantum physics to significantly improve encryption. Built out of ANU, the company has been globally recognized as a leader in quantum cybersecurity after winning the renowned Security Innovation Network (SINET) award.

Speaking to ABC News, ANU physics Professor Ping Koy Lam explained the difference between conventional math-based encryption and the quantum-based encryption that he and his group of physicists are working on. He said:

Usually, encryption technique relies on complicated mathematics to guarantee its security. What we are doing now, that is new, is we use the laws of physics to guarantee the information’s security.

Significantly, he added:

The form of encryption that we’re currently working on should be unbreakable.

He noted that the code used by the method of encryption he is developing ensures that despite the efforts of any malicious eavesdropper trying to listen in to the communications, the code will remain unbreakable.

The Quantum Technology at Use

Elaborating on the technology to CIO Australia, QuintessenceLabs is looking to leverage the laws of physics in cybersecurity applications where photons are entangled in the quantum state, with data mirroring each other over distances.

In other words, any attempt to intercept the data immediately triggers an alert when there is any form of tampering in the quantum entanglement.

A ‘one-time pad’ is made up of random numbers and generated by lasers. As an encryption technique, this one-time pad only contains once code for each number. This renders any attempt by an attacker to reuse the code obsolete, even when a malicious attempt is made to cross-reference and figure connections between the characters and messages.

Professor Lam added:

When we decide on a particular form of encryption, we always make an assumption that the adversary doesn’t have enough computational power to break it.

Now, with this new form of encryption, the information will remain secure independent of the amount of resources anyone can put into breaking it.

A Globally Encrypted Network, Secured by Quantum Physics

QuintessenceLabs is looking to develop a global network of its quantum-based cybersecurity technology for governments and companies to securely share information among each other.

“To do that, we need to transfer information just like we are doing now with fiber-optics network from one place to another through many stations. What you need to do then is guarantee that even at the stations, the information remains secure,” Professor Lam explained.

So, the technology we are working on now is called a quantum repeater. The analogy can be [that] it’s like fiber optic repeater [stations].

Professor Lam compared it to having data beamed to outer space through a quantum entanglement with satellites being the ‘repeater’ stations from where data is then disseminated to other stations.

He states the company already has clients such as Westpac, Lockheed Martin and IBM using the technology. Furthermore, he added:

If industries such as banking or even government agencies look to adopt some of this new encryption technique, that’s when we will see a real change over to encrypting to the new method.

The technology could also benefit individuals beyond corporations and governments. Activists and journalists who routinely deal with sensitive information can use the technology to secure their data.

Professor Lam sees it as a “one-time key” that is stored remotely. If the encrypted data is compromised elsewhere, it would be impossible to encrypt without the key.

“A journalist can go into a hostile environment and start recording footage and information onto this random number field databank. If they are captured, the information cannot be leaked out,” the ANU professor said.

The deciphering of the information can only be done when the journalist returns to their headquarters.

Hacked  reached out to QuintessenceLabs who weren’t available at the time of publishing.

Featured image of Quantum Mechanics from Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4 stars on average, based on 1 rated postsSamburaj is the contributing editor at Hacked and keeps tabs on science, technology and cyber security.




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Cardano (ADA) Has Big Security Boost as Trezor Ready to Support ADA

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  • Hardware wallet manufacturer set to support Cardano’s ADA, which is a big security boost.
  • ADA/USDT still demonstrates some near-term vulnerabilities to the downside. 

Trezor Set to Support Cardano’s ADA

IOHK were very much pleased to announce, that Trezor are currently undergoing preparation to support Cardano (ADA). Trezor are a globally known hardware wallet, which facilitates cryptocurrencies to be stored. They are renowned for the security and being able to store the key to the wallet safely. The company is a large manufacturer of hardware wallets. A huge boost in security for the foundation’s native token, something token holders should be pleased about.

The update came from the Cardano founder, Charles Hotkinson, via his Twitter account, indicating this could be the case before the month of November. Separately, Trezor themselves tweeted, “have you ever wondered what we are working on? Have a look at our newly created roadmap, where you can see all the new stuff that is coming up! https://wiki.trezor.io/Roadmap It lists other tokens which will be receiving support in addition to Cardano’s ADA that day. This includes the likes of Monero (XMR), Stellar (XLM), Ripple (XRP), Zencash (ZEN) and Zcash (ZEC).

What Next for Cardano?

The Cardano Founder, Charles Hoskinson, was recently speaking about how the team is going to be providing more insightful updates. He noted that they will soon start the creation and posting of videos with their future projects.

There is much anticipation from token holders regarding the imminent 1.4 update. Given Cardano’s growing number of users, this is said to be a large factor to the development of a new update from the foundation. This 1.4 update is expected to help Cardano gain further traction in bringing in more users to its platform and the use of its native token.

Technical Review ADA/USDT – 4-hour Chart

ADA/USDT 4-hour chart

Downside pressure continues to keep ADA/USDT at bay. The lack of announcement from Cardano with regards to its ecosystem update, as mentioned above, perhaps could be also taking its toll on the price. It is currently running within its 8th consecutive trading session in the red. No sign of bounce yet.

ADA/USDT price action remains stuck and dictated within this triangular pattern formation. The market bears, with the current losing streak, are set to test the key near-term support to the downside. This is seen at the lower part of the above-mentioned pattern, tracking at $0.0728 area, also within a touted demand zone. A breach potentially seen here, could see a very fast move back down to 18th September low area, around $0.0620. As a result, it is hard to ignore that the current technical set up, suggest of vulnerabilities.

In terms of resistance, this can be seen at the upper part of the pattern, tracking at $0.0800 mark. Enough upside momentum could see a breakout higher, back towards $0.0950 territory, price last within this proximity on 23rd September. Further north, any breach of the mentioned areas, $0.10000, will quickly be back in the picture.

ADA/USDT daily chart

To conclude as mentioned above, the near-term support $0.0728, is vital for ADA/USDT to hold. A failure of comfort here, could open the doors to a fresh wave of selling pressure.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 55 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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EOS Price Forecast: EOS/USD Heading for Another 300% Move?

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  • EOS/USD price action via the 4-hour chart view has formed a bullish flag pattern.
  • The price is moving around levels seen back end of March to early April, before a bull run of over 300%.

The past six sessions for EOS/USD have been erratic to say the least. It has been subject to a high amount of volatility, swinging aggressively in both directions. There has been a lack of commitment from either the bear or bull camps of late. As the market continues to trade with such behavior, it appears to be trying to find its feet, ahead of a potential chunky firm trend.

EOS DApp Hacked Again

An EOS based gambling DApp, EOSBet has been hacked, with $338,000 being reported as stolen. This isn’t the first time; just back in September, hackers managed to get away with a reported 40,000 worth of EOS, which at the time had a value of $200,000. It has been said that they were able to exploit their smart contracts, having found security vulnerabilities.

Technical Review – 4-hour Chart View

EOS/USD 4-hour chart

EOS/USD price action has formed a bullish flag pattern, which began taking shape on 15th October, after the aggressive price behavior stabilized. The bulls at the time ran the price well up into $6 territory. Consequently, it then met the breached ascending trend line, failing to move back above this area. This followed the sharp breakthrough to the downside, which occurred on 11th October. As a result, a drop of over 15% was seen, forcing EOS/USD to retreat in a demand area, within the $5.0000 level proximity.

Looking to the upside, small near-term resistance is seen at around $5.6100, which is the upper trend line of the mentioned bull flag pattern. A breakout will likely open the doors to a retest of the broken ascending trend line, tracking around $6.1100. Support can be eyed at $5.4600, which marks the lower trend line of the flag. Furthermore, should this fail to hold, EOS/USD could likely fall back down to the serving demand area, within the lower $5.0000 territory.

April 2018 Bull Run

EOS/USD April bull run

In April of this year EOS/USD entered a chunky bull run, gaining over 300%. From the back end of March until 11th April, the price had been stuck within consolidation mode. Resulting in the price trading within a tight range, at levels of where the price is currently seen today.

Something quite astonishing started to unfold. Between the period of 11th April to the 29th April, a bull run of around 290% was seen. Over this time frame EOS/USD went from $5.9500 up to a high of around $23.0811. The price is currently demonstrating a similar behavior to that of what was seen during the mentioned period. It is interesting to note that the price did have historical levels to break through, as it had already run higher during the period of December 2017 and came back down. Finally, this is not to say EOS/USD will observe the same bull run. However, it is an interesting observation to be aware of.

Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading.

Featured image courtesy of Shutterstock.

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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4.4 stars on average, based on 55 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets.




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“Mass Adoption is the Direction Things Are Taking” – Lionel Wolberger, CTO and Co-Founder of Platin

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Platin is a new blockchain token-based ecosystem which powers an infrastructure platform that incorporates a proprietary programming language (‘SolidityGEO’), all in the name of accomplishing a so-called decentralized ‘Proof of Location’ protocol.

We reached out to the team to find out more about how their solution works, the current state and future vision.

The result of this outreach was a warm reception from the company’s Chief Technical Officer (CTO) and Co-Founder Lionel Wolberger, with whom we discussed such topics as well as Platin’s: objectives, company ethos, and views on the current state of the crypto space.

Who is Behind Platin?

Lionel Wolberger’s experience with cryptocurrency and blockchain spans as far back as 2011, where he “spoke about it at Cisco Secure Video where our team of cryptographers included the inventor of Public Key Cryptography himself, Prof. Adi Shamir.”.

It wasn’t until two years later before Wolberger got the opportunity to professionally re-engage with crypto technology, when he participated in an experiment on behalf of the Internet Identity Workshop “and decided to study it more closely and see what it was all about.”

In 2017, Lionel Wolberger created Platin alongside co-founder Allon Mason when they “identified the potential for a secure and lightweight Proof of Location protocol on the blockchain.”. Wolberger met mason during academia at Cornell University, having

“always admired his drive and passion for the projects he has developed over the years, particularly XPLace an online marketplace with hundreds of thousands of users and multi-million dollar annual turnover.”

Wolberger also highlights the fact that the team is working alongside secure-location advisor Professor Srdjan Capkun (Director of the Zurich Information Security and Privacy Center, ZISC), which he calls a “privilege”.

“Dr. Capkun is an ideal advisor, as he sits on the major standards committees, and has an inside track to secure GPS and other important technologies associated with secure proof of location.”

What is Platin?

Whilst participating in the “’colored coin’ experiment’” for the Internet Identity Workshop, Wolberger had a fundamental epiphone with regards to his perception of blockchain and the purpose of cryptocurrency:

“it’s not about currency, but an asset tracking system of decentralized trust that could also provide the basis for so much more than just currencies.”

As such, Platin’s purpose is to provide a utility-token based platform which they (on their website) describe as a system for the “Geo-location of digital assets (cryptocurrencies, documents, images, etc.), anywhere on the map, anywhere in the world, in real time.”.

There are a wide range of uses for geo-locational software, from marketing to emergency broadcasting regarding critical events such as national disasters. Official use-cases include:

Lionel Wolberger lists, among the key values of Platin its hardware agnosticism as well as its interoperable nature.

“Interoperable refers to Platin’s protocol, that it is cleanly defined and independent, enabling it to work with many other products or systems, at present or in the future, in many possible implementations with few restrictions. This is achieved by having a clean interface (API, SDK) and is essential as Platin is needs to inter-operate with Android, Apple, many backend systems and blockchain assets.

“Hardware agnostic refers to one aspect of Platin’s Proof of Location protocol, its ability to work with any — all, i possible — geospatially relevant signal sources. This will certainly include GPS, cll towers and wifi, but will extend to BLE, LoRA, Ultrasound, indeed any signal that has relevance for a Proof of Location. This is achieved by having a clear definition of Proof of Location and how a device’s location relates to all this other data.”

Furthermore, the team is planning to implement cross-chain compatibility in the future, including Ethereum / EOS.

A Security Focus

Security is also a key concern and this is echoed in our interview as well as across the website for Platin. The company even mentions KYC / AML with its list of use-cases for the platform.

One way which the company seeks to achieve this is through the use of hardware cold-storage systems for the safe-keeping of all tokens, with their first wallet integration being TrustWallet. They also, according to Wolberger, are anticipating a future partnership with Ledger.

Lionel Wolberger claims that

“Platin has security and privacy baked-in from the start. Some features that reflect this approach include.

  • Platin’s architecture starts with individuals storing their own data, with blinded commitments shared to the network.
  • Platin’s functionality is “opt-in” based, reflecting a deep respect for our users as sovereign digital actors. You opt-in for the sharing of data, whatever you are comfortable with. The default is no sharing.
  • One of our Platin’s hires was a full-time cryptographer, and we are open sourcing our first zero knowledge cryptographic achievement: a ZK Range proof of bounded location. This shows our cryptographic and security passion.
  • Platin’s default pattern is “send the algorithm to the user,” rather than, “have the user send their data to the network.” Our Artificial Intelligence is privacy-preserving in this way.
  • Platin’s three pillars of security are orthogonal, working together to create a secure proof of location that would not be possible with any one of those pillars”

Geolocation and Geofencing

With use cases including retail shopping and other location-based rewards initiatives, Platin incorporates (and is responsible for the effective utilization of) specific technical and methodological processes pertaining to their geo-locational solution / protocol.

This scenario is made fully possible using a technology called ‘geo-fencing’ which is essentially, according to Wolberger, “An ability to restrict and define usage within the boundaries of their regulatory and legal jurisdiction.”

“imagine that a national supermarket chain airdrops coupon for 10% off certain items to celebrate the launch of their new store However, they do not want these coupons to be redeemable at other locations as they want to drive traffic to this new store.

“With a special smart contract, the coupon will only work within the geo-fenced area around the new store.”

Attempts at geo-location are most effective with both the consent and honest participation of both direct and third-party sourced users. Considering tech scandals surrounding personal and public data privacy & security, it has become increasingly difficult to encourage people to confide their personal data sincerely.

This is where rewards-based systems such as Platin come in.

Humanitarian Aid (A Use Case)

Another key use case cited, which Wolberger doubles down on in our discussion is that of charitable coin drops…

“We think it is incredibly important to focus on use cases such as humanitarian aid airdrops.

“While our technology has broad commercial uses, our team is passionate about seeing the project bring new ways to enable ordinary people use cryptocurrency, and an ideal win/win use case is the ability to transfer crypto to people who need assistance.

“Blockchain and cryptocurrency can often seem intimidating to people, but mass adoption is the direction things are taking. Platin wants to ensure that everyone can access and utilize this technology to utilize decentralized funds in a beneficial and potentially life-saving way.”

These partnerships include IsraAID (with whom theys already signed an agreement) in addition to the Swiss Red Cross (with whom they are currently in discussions), where Platin plans to further develop and test their systems and processes with regards to how they will integrate geo-location focused / geo-fenced cryptocurrency airdrops.

Another, tangentially related use-case is:

“the Tokyo Olympics airdrops… we are currently discussing the opportunity with our Tokyo-based partners.

“The Olympics has traditionally seen technological innovation, such as instant replay, virtual video graphics and most recently 5G deployments. This is the year of blockchain, and we look forward to announcing details once we are permitted.”

Final Words

All these features, aims and objectives are tied together by the fact that they are all built upon not only a proprietary – but also a home-grown programming language which third parties can leverage for their own projects when working on the Platin blockchain.

“SolidityGEO extends Ethereum’s Solidity language, GEOS extends EOS’s C++ language. These will equip our partners for fast onboarding into location proofs on the blockchain.”

SolidityGEO is what Platin calls a “location-aware language” created to help the utilisation and implementation of geographic demarcation for token distribution, rewards and airdrops. It will additionally include ZK-Snarks and Starks zero-knowledge proof mechanisms as well as general operating standards such as ISO and W3C.

Finally, with regards to the future:

“Proximity radio technology is being deployed steadily, without any loud publicity. 5G, RTT-enabled Wi-Fi, and IEEE secure proximity radio standards promise highly accurate distance readings via radio. The average person feels this progress in the slow spread of keyless entry–just having a key, fob or smartphone in your pocket to unlock a desired resource such as your car or home. Platin has partners in this space and there are sure to be exciting announcements in the next six months (though they will be quite technical, they will promise rapid progress).”

Featured image courtesy of Shutterstock. 

Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink.

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