QuFi Network has launched a post-quantum verification platform for Bitcoin, enhancing security without altering existing networks.
QuFi Network has introduced a new platform designed for post-quantum verification to enhance the security of digital assets against potential quantum computing threats, all while avoiding modifications to current payment networks.
To demonstrate its capabilities, the developers utilized Bitcoin Testnet4.
Independent Verification Process
The innovative approach of QuFi separates transaction verification from execution. It leverages a network of independent nodes to perform cryptographic validations before funds are transferred, subsequently generating a compact proof for the blockchain.
This method alleviates the burden on individual blockchains, which might struggle with increased data and computational demands arising from the adoption of post-quantum cryptography.
QuFi's security framework incorporates three standards established by the U.S. National Institute of Standards and Technology: ML-DSA-65 for digital signatures, SLH-DSA as an additional hashed signature scheme, and ML-KEM-1024 for secure key exchanges.
Testing on the Bitcoin Network
As part of its practical application, QuFi developed uBTC, a proof-of-concept that verifies Bitcoin collateral and generates cryptographic proofs for subsequent transactions.
The uBTC lifecycle, including issuance, burning, and redemption, takes place entirely within Bitcoin Testnet4. Upon redemption, the funds are transferred via a standard Bitcoin transaction, allowing for independent verification without necessitating changes to the original cryptocurrency protocol.
This approach contrasts with other methods that integrate post-quantum algorithms directly into the blockchain, which can lead to larger signature sizes and increased demands on storage, bandwidth, and computational resources.
Current Status on Testnet
It is important to note that Bitcoin does not yet have comprehensive post-quantum protection, as the system is currently operational only on a testnet, not the main network. QuFi aims to expand its solution to include EVM networks, Stellar, and Solana.
In parallel, QuFi has launched a Genesis Node program aimed at operators who will support a decentralized verification network. The ultimate goal is to create a unified verification layer across various blockchains and financial systems.
Additionally, it's noteworthy that StarkWare achieved the first quantum-resistant transaction on the Bitcoin mainnet back in August.
