Cryptocurrency is possibly the most trending topic in the world of finance and technology today. What is it exactly? Cryptocurrency, or “crypto,” is a digital payment system that allows people to send and receive payments without relying on a central authority. The amount of news coverage and discourse on crypto has skyrocketed in recent years. The arguably most popular coin, Bitcoin, grew 224% in value in just 2020 alone. If these trends are any indication, it seems like the value and notoriety of crypto will continue to grow exponentially. Entrepreneur and crypto expert Ray Aria definitely agrees. “Crypto is here to stay and is going to grow stronger day by day,” he told Bold TV. However, crypto isn’t completely problem-free and could be susceptible to quantum computers. So, Aria created Flairrcoin in an attempt to build a more secure system.
Blockchain and quantum computers
Blockchain is the record-keeping technology through which most crypto, including Bitcoin, is built and recorded. Although blockchain is a very functional and intricate system, one of its main issues is quantum vulnerability, which means a person with a quantum computer could break into the blockchain.
Unlike regular computers, which use electrons, quantum computers use photons to do calculations and computing faster and more efficiently. There are only a handful of these computers in the world today, and only some governments and tech giants — such as Google and IBM — have them. These parties aren’t looking to steal crypto; however, companies like IBM are already developing quantum computers for commercial purposes. If quantum computers will be available to the public in a few years, how safe of an investment is crypto?
The Block Lattice system
Aria looked towards the future of quantum technology and crypto and developed Block Lattice as a response. Block Lattice is the system behind Flairrcoin, and it’s much more intricate and difficult to break than blockchain. According to Aria, Block Lattice is like “a tree with one billion branches, and all of those branches may have branches, too”.
In theory, Block Lattice also could be vulnerable to break-ins, but it would take around a year to do so. And during that time, the system would change so much that it would be technically impossible to break. Block Lattice could definitely make cryptocurrencies less volatile and vulnerable, and therefore more valuable.
Is it safe to invest in crypto?
The question remains: Is it safe to invest in crypto? According to Aria, it depends on the stock, but no one can really answer that with 100% accuracy. “It’s like gold: If you buy gold, no one can predict its price with certainty,” he said. But with the amount of innovation and money being invested into digital currency, the future of crypto is looking safer and brighter by the day.