BMIC Paves the Way for Crypto’s Quantum Computing Revolution

With the tech sector growing at breakneck speed, investors, developers and traders are all looking at potential effects of developing technologies such as artificial intelligence (AI) and quantum computing.

Quantum in particular is set to push the boundaries of both new and legacy code, which is the backbone of the DeFi ecosystem. As quantum compute continues to become more widely available, it will become easier for malicious actors to take advantage of underprepared crypto users through wallet and exchange hacks.

In order to keep up with future innovations and threats onchain users need to be aware of impending dangers to their assets and identities.

Quantum’s threat level towards total blockchain security, such as the security of the Bitcoin or Ethereum network is questionable, and largely speculated on, but the emerging tech will almost certainly be a problem for legacy hot wallets and their seed phrase based security.

In addition to future changes brought on by the advancement of quantum and AI, DeFi as a whole still struggles to really commit to the level of trustlessness and decentralization that drove many of the early Bitcoin and Ethereum developers. dApps across all of DeFi are still reliant on centralized services and servers, as shown by the recent AWS outage that left users helpless.

What is BMIC?

In anticipation of the potential shifts quantum may impose upon DeFi, BMIC is building a blockchain ecosystem designed for a future driven by quantum computing.

BMIC is producing a quantum-resistant wallet, quantum security as a service (QSaas), quantum resistant staking, and other ecosystem components meant to keep its users on top of technology's next generation.

The protocol aims to outpace the looming quantum revolution, and make sure that blockchain and its users are on the right side of the impending shake up.

Through BMIC, users can expect their assets to be quantum resistant, their signatures to be hidden, and to have access to innovative AI orchestration and decentralized compute tools to maintain their edge in a democratized and trustless fashion.

BMIC Token

In true decentralized fashion, the BMIC token is at the heart of its ecosystem.

The token will be required for payments and access, and is needed to unlock wallet capabilities and compute workloads. The network’s security will also be boosted via token staking, which will reward its stakers in turn with variable yield funded via its quantum-secure validators.

In order to maintain alignment with token holders, the ecosystem will feature a “burn-to-compute” system as well as revenue driven buybacks, ensuring that token holders receive actual value by holding the token, as opposed to simple governance rights.

BMIC’s token presale is ongoing, with its Phase 3 launching on Dec 1, which is a part of its total public presale that accounts for 50% of the BMIC supply. Another 10% is allocated to investors, 22% to incentives and liquidity, 15% to ecosystem reserves and marketing, and just 3% to core contributors.

The BMIC tokenomics are meant to be not only self-sustaining and deflationary, but scalable and community-aligned.

While the immediate effects of the inevitable quantum compute revolution are yet to be seen, products like BMIC are set to get ahead of the curve and take full advantage of the next wave of tech innovation coming to crypto.

Note: This explainer was sponsored by BMIC

Series Disclaimer:

This series article is intended for general guidance and information purposes only for beginners participating in cryptocurrencies and DeFi. The contents of this article are not to be construed as legal, business, investment, or tax advice. You should consult with your advisors for all legal, business, investment, and tax implications and advice. The Defiant is not responsible for any lost funds. Please use your best judgment and practice due diligence before interacting with smart contracts.