As Google launched a new quantum computing chip Willow, triggering a “quantum apocalypse” scare in the crypto market over the possibility of cracking encryptions used by the industry, slowing down bullish sentiments, here is a glimpse of some quantum-resistant tokens.
Quantum computing is the next big thing in the AI world and Google has set the ball rolling with its new chip which allegedly reduces computing errors by half.
As quantum computing develops so is the possibility of complex cyber-attacks which can affect the safety and security of digital systems including cryptocurrency. As such web3 blockchain experts are investing to equip the blockchain to address this new threat, as suggested by Ethereum cofounder Vitalik Buterin.
Quantum-resistant computing has become the need of the hour for crypto systems. If users do not use quantum-resistant computing then they are likely to face the following cybersecurity challenges
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Hackers can gather sensitive data like user information and credentials through quantum attacks on crypto algorithms.
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These attacks can undermine the national security of countries.
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Quantum attacks can disrupt the digital ecosystem and may lead to the downfall of various e-commerce and financial systems.
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Even advanced technologies like web3 blockchain can be affected by quantum attacks.
As crypto companies and governments try to develop their own quantum-resistant computing which will become mandatory for the security of users and their personal information, crypto traders are trying to buy the dip and invest in quantum-resistant tokens to future-proof their investments.
Here's a look at three such tokens in the wake of the latest developments from Google.
Cellframe (CELL)
Cellframe (CELL) is an open-source pioneer which aims to bridge the gap between blockchains across the crypto world and has basic features like its own quantum-resistant mechanism. The highly scalable and secure environment offered by CELL with its customized smart contracts works to improve platform privacy.
These features have made traders trust this token, especially in the aftermath of Google launching the quantum chip Willow. This is visible in the price movement CELL has experienced in the last 2 days.
Known for its hassle-free blockchain interoperability Cellframe had a market cap of $6,593,628 in October when it was trading at $0.2312 with a 253% drop in its trading volume and a 15.42% decline in its value which showed that buyers are sceptical about it.
As per October forecasts, CELL was likely to hit the $0.68686 mark by 2026 as it breaks the bearish trend. The digital asset is likely to cross the $1 barrier by 2030 to reach the $1.663115 mark. Many crypto investors were looking to invest in Cellframe for the long run, and the Google quantum computing chip development news has given the opportunity to do so.
The new development has accelerated the situation, and now Cellframe is up 11.17% in the last 24 hours to trade at $1.24, making analysts predict that the $1.6 mark will be touched soon. The token’s trading volume has gone down 19.24% in the last 24 hours to touch $6.49 million, while the market cap rose to $35.65 million.
Ozone Chain (OZO)
The next quantum-resistant token to look out for is Ozone Chain (OZO) which has emerged as a major cryptocurrency courtesy of its decentralized and highly scalable and secure Ethereum ERC-20 blockchain standard.
Since the Ozone Chain uses the Ethereum blockchain as its base the token is compatible across many decentralized applications (dApps). In addition to the quantum-resistant computing system, OZO also focuses on providing speedy transactions at a lower fee. Moreover, it has added layers of security for smart contracts.
All these features have made OZO a formidable quantum-resistant token to invest in. The coin had a market cap of $109,835,939 in October when it was trading at $0.2126. Despite its bearish sentiment, the OZO token was estimated to surge over 235% at that time.
OZO is likely to hit the $0.579205 and the $0.916608 mark by 2027 and 2030 respectively. Like Cellframe this one is also to reach the $1 psychological in the next 6 years which could be accelerated by developments like Google’s recent quantum chip launch.
Hence, analysts are suggesting that this is the ideal time to invest in OZO while the entry barrier is low. At press time, Ozone Chain was trading at $0.2105, down 1.67% in the last 24 hours with a 4.14% surge in its trading volume, which stands at $165.98K while the market cap dipped to $133.58 million.
AME Chain (AME)
Another quantum-resistant token to capitalise on is AME chain (AME) which is a quantum-secure blockchain known for features like its Ethereum Virtual Machine compatible system, making way for scalability and security.
AME chain uses smart contracts for peer-to-peer communication across various dApps. AME is also secured from denial-of-service (DoS) attacks as it has highly advanced security algorithms.
All these features make AME a valuable token to invest in. The AME had a market cap of $392,192 back in October when it was trading at $0.0007836 with a 22.05% monthly decline.
Back then, AME was predicted to grow 227.69% and hit the $ 0.0029 mark in a month. As per the estimation, bullish trends are to take over the token as it enters 2025, making it aim for the $0.004176 mark and the Google quantum chip might propel that. AME is likely to gain further and hit the $0.005613 mark in the next 5 years was the projection two months ago.
However, the Google quantum chip news has caused the AME chain to surge nearly 30% in the last 24 hours as it traded at $0.002863 at press time with a 22.32% increase in its trading volume which now stands at $343.19K and the market cap rose to $1.4 million.
Overall, these tokens promise financial security as advancements in quantum computing put the crypto world under a quantum attack threat. The exponential growth forecast of these digital assets is likely to provide massive returns in the coming years.