Under-Explored Quantum Ecosystems #2 - @QuantusNetwork
Quantus has no smart contracts but an ecosystem formed around it anyway.
The secret sauce behind almost every defi-related thing you can do in the ecosystem, is powered by @NEARProtocol.
Let's take a look ↓↓
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Part one was @QRLedger, a chain that has run on hash-based signatures since 2018.
This one's is a much younger chain with a very different ecosystem built on top.
Quantus is:
- a PoW L1 built only yo move money
- mainnet genesis went live September 9th this year
- every transaction on the chain is signed with ML-DSA; ML-DSA-87 for new wallet accounts, and ML-DSA-65 is also supported.
- it has no smart contracts, by design
- $QTC is the only native asset
So what could grow on a chain built only to move money?
1. An Ordinals-style protocol on a chain without smart contracts: @qlyphsxyz
Since tokens cann't be launched on iQuantus, Qlyphs got around that the way Ordinals did on Bitcoin. Their rules, QLYP-v1, ride on normal QTC transfers, and their indexer reads the whole chain to keep track of who owns which token.
That one idea grew into an economy:
- there are Quarks, numbered one-of-one pieces stored inside transactions since 9 Oct
- there's a launchpad where 0.03 QTC starts a token on a bonding curve, and it graduates to a NEAR pool once the curve fills at 210 QTC
- on top of that, they built a wallet, a Telegram bot and an OTC desk.
The catch is that the chain doesn't know these tokens exist, so your balance depends on Qlyphs' servers, not Quantus.
@Quantinals_ runs another inscription protocol like this, with $QNTS on the trust model.
2. DeFi lives on NEAR
Since Quantus can't run DeFi itself, QTC goes to NEAR for it as a wrapped token. It first traded there on 6 Oct through @near_intents, which now handles swaps from 180+ assets inside the official Quantus wallet and has passed $50M in Quantus volume.
.@rhea_finance added a QTC/USDC pool, the first QTC lending market at up to 60% LTV, and a Quantus-NEAR bridge.
.@MeteorWallet, @auroraisnear and @InstaSwap_io give people more ways to swap in and out.
The bridge between quantus and near is still being built. Also, once QTC leaves Quantus, it loses the chain's post-quantum protection and is only as safe as wherever it sits.
3. The wallet race
For a money-only chain, the wallet is the app. There are already several:
- the official Quantus wallet with in-app swaps and about 16K installs
- Quantus cold wallet which turns an offline android phone into a QR signer
- @KeystoneWallet 3 signs Quantus transactions through firmware
- @Qkeep_app a community wallet
- Qlyphs wallet
4. Mining
In two months, 20 named pools have started mining QTC, including @KryptexMining, @HeroMinerss, @f2pool, @pool2miners and LuckyPool.
But look in the last 24 hours:
- Kryptex mined 60.0% of blocks (3,530 of 5,880)
- LuckyPool only 10.4%
- HeroMiners: 10.1%
- Unattributed: 16.5%
- F2Pool: 0 blocks
5. Explorers and tools
- quantus explorer and an open-source indexer (official)
- qtcscan: community explorer from the Qkeep team, with free JSON data on pools, supply and vesting
- Quantum Resistance Renaissance: a solo builder's hub of ~47 browser tools
- @miningchamp tracks Quantus pools and hashrate
I haven't personally expereinced the community but if i missed anything, pls let me know
Address poisoning attacks are serious, but largely preventable by using checkphrases.
Address poisoning happens when an attacker swaps the destination address with a lookalike. It can happen because malware got into your clipboard, or because they put a lookalike in your transaction history hoping you accidentally copy it.
The more advanced version will forward test transactions (small value) to the intended destination so you get confirmation from the recipient that it went thru. This is why when doing tests you should always check the txid with the recipient.
But using checkphrases makes this attack much harder to execute. The fundamental weakness being exploited by address poisoning is that humans have a hard time reading random data, so we generally just skip it.
A checkphrase is a human-readable phrase that is cryptographically bound to whatever data you derive it from. You can use it with any data, but the two most interesting usecases are crypto addresses and transaction ids.
If one letter changes in the input, on average all five words will change. For example, if your BTC address is
1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa
Then your checkphrase is
Age-Awake-Secret-Blossom-Hedgehog
But if you change one letter
1A1zP1eP5QGefi2DMPTfTL5SLmv7DixfNa
The checkphrase becomes
Innocent-Fitness-Joyful-Brown-Surge
In the default configuration this has about 55 bits of security and requires about 50k hashes to generate a single one, so if you are sending a large amount of money you should check the entire address, since collisions are possible for highly motivated attackers (quintillions of hashes).
It’s open source. Anyone can use it on any address type in any wallet. It’s entirely client side.
https://t.co/Sv7I2OqtP3
Privacy shouldn't be a toggle you have to find. Qkeep checks spent markers in padded buckets with decoys, and proof requests carry no address, even with Extra privacy mode off.
New in Qkeep 1.70: Extra privacy.
Turn it on and your phone downloads the public Encrypted Account data once, about 26 MB, then only small updates.
Your balance is found locally, on your device. No server ever sees which encrypted account is yours.
One tap in Settings > Privacy.
Qkeep keeps no list of your addresses, and wallet API requests aren't logged. So use it knowing nobody there can tell you how much QTC sits in Qkeep wallets, yours included.
Our @QuantusNetwork nodes are on v1.0.5. Qkeep and qtcscan both run on them, so today's DoS fix is already live for the wallet and the explorer. The runtime is unchanged and there is nothing to update on your side.
Holding your own keys also means knowing what happens to your coins. Qkeep tracks every transfer until it is final on chain, so you never have to guess whether a send really went through.
Want your address kept off our server? Turn on Extra privacy mode in Qkeep under Settings (opt-in), and Encrypted Accounts get checked on your device instead.
Keys you hold are only as safe as the signatures behind them. Post-quantum signing on-device is how self-custody lasts. Qkeep does that. https://t.co/yihcvhaJH2
Importing a key shouldn't be a one-way door. In Qkeep you can reveal and back up an imported private key or any key from seed phrase behind your password, and it hides itself again after 60 seconds.
Post-quantum is becoming a baseline. For QTC holders it starts with signing: ML-DSA keys that stay on your own device, like in Qkeep. https://t.co/wpN5Q7J9Ch