Immutable X is a layer 2 system for building and transferring NFTs cheap and quickly. Without layer 2, building and transferring NFTs is like the state of Texas trying to process mail with 5 post offices in the entire state. Layer 2 is necessary.
The way assets move between marketplaces and blockchains is by securing them with encryption.
Quantum computers can brute force attack modern encryption schemes with its raw processing power – allowing it to attempt many more passwords or keys than a conventional computer due to its processing units being able to exist in a state of superposition – allowing the CPU to test many solutions at once.
Every computer system is vulnerable to these types of attacks – and they could be widespread as soon as 5 years. Banks, governments, crypto – everything.
Except Immutable X.
Enter Starkware. Starkware is a company Immutable X has worked with to build it’s secure encryption scheme (zero knowledge proofs, zkSTARKS) that will be used for verifying data for its marketplace.
That encryption scheme will be the first ever quantum-resistant encryption scheme used for transaction data and financial data.
The NSA has been working on a quantum computer for breaking encryption since at least 2014. Other countries and companies have been doing the same. Multiple technology standard committees in the US have declared the need for quantum-resistant encryption since at least 2015.
Technology like the type that Gamestop will be utilizing in its NFT marketplace is the type of technology the US needs to stay protected and relevant in the very near future.
There are likely many, many more things happening behind the scenes than people realize. In Gamestop, there’s a lot more at stake than just it’s investors money. The US has a deep economic and strategic need to see Gamestop succeed.
Let that sink in.