The Rise and Fall of IOTA (mIOTA) – A Bittersweet Story

IOTA - A Brief History IOTA is a cryptographic protocol that runs on a unique form of Distributed Ledger Technology (DLT), significantly different from most cryptocurrency projects. It is different for one vital reason; IOTA doesn’t run on a blockchain! As we have tried to iterate multiple times, blockchain, the distributed database technology, is just a subset of DLT. So then, what kind of database technology does IOTA use? IOTA was developed and initiated by David Sønstebø, Dominik Schiener, Sergey…

Introduction to Quantum Cryptography – Everything You Need to Know

The Need for Quantum Cryptography To explain what I mean by Quantum Cryptography, I would first dive into what Quantum Computing actually is. I could say what “Expert” websites say, that Quantum computers use the fundamentals of quantum mechanics to speed up the process of solving complex computations. They can process massive and complex datasets more efficiently than classical computers. But that sounds like a whole lot of gibberish and no-talk. So, let's take a bold step and try to…

Unbreakable Encryption Chips – How this Concerns Bitcoin

Recently, researchers at the University of St. Andrew’s, King Abdullah University of Science and Technology in Saudi Arabia, and the Center for Unconventional Processes of Sciences in California introduced a prototype silicon chip. These developers claim the chips provide unbreakable encryption. Nature Communications published an article concerning this new system and pointed out that it utilizes chaotic wavepackets in conventional silicon-based semiconductors. Cryptocurrencies depend on traditional encryption standards, which may soon become outdated due to innovations in quantum computing. There…