PALO ALTO, Calif., Nov. 4, 2019 /PRNewswire-PRWeb/ -- California based Software Company HashCash Consultants moves into the quantum space with the promise to provide enhanced and unbreakable private key security. The company is working to fortify its Blockchain Network HC Net, with quantum encryption.
Sharing the company's plans with media, Raj Chowdhury, CEO of HashCash Consultants said "Quantum encryption holds the key to the next generation of online security. We are looking at a future where cyber-attacks will be least of our worries. It is an exciting time for the tech community as we harness the powers of quantum mechanics."
HashCash's Quantum Plans:
All of HashCash's applications are backed by Blockchain which uses public-key cryptography. A combination of the public and the private key is used to process transactions, and ensure security and privacy-preserving protocols. The public key is the address of the wallet that network participants can see and send coins to and the private key is the one with which one can access their wallet.
HashCash's Blockchain network HC Net is where all transactions take place and it boasts of the best private key security. But as the world advances into the quantum space, present-day encryptions may become vulnerable. Keeping long term security in mind HashCash is working on quantum computing to strengthen the private key security using quantum encryption.
How HashCash is using Quantum Encryption:
Quantum encryption or quantum cryptography, harnesses laws of physics to transmit a secret key in the safest and secure manner. The current methods of transmitting secret keys are backed by complex mathematical equations. It might work in the present day scenario but from the future perspective, there is a high chance of the encryption getting compromised. So for long term security quantum cryptography is the best option.
Quantum Key Distribution:
HashCash uses QKD or Quantum Key Distribution as a subset of quantum cryptography to enhance private key security. It is being used to create private keys to send encrypted messages from one location to another. Because of complexities and multiple probabilities in quantum mechanics, the hackers cannot secretly copy the key. It requires extensive computation and breaking the laws of quantum physics to decode the key, making the process of encryption unbreakable. This ultimately provides the users with the safest passage to communicate and conduct transactions with one another through HC Net.
About HashCash Consultants:
HashCash is a global software company. HashCash Blockchain products enable enterprises to move assets and settle payments across borders in real-time for Remittances, Trade Finance, Payment Processing and more. HashCash runs US-based digital asset exchange, PayBito & digital asset payment processor, BillBitcoins. HashCash offers exchange and payment processor software solutions, ICO Services and customized use cases. HashCash propels advancement in technology through Blockchain1o1 programs and its investment arm, Satoshi Angels. HashCash offers solutions in AI, Big Data and IoT though its platforms, products & services. HashCash solves the toughest challenges by executing innovative digital transformation strategies for clients around the world.
SOURCE Hashcash Consultants
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