[Seoul, Korea] Monoverse, a blockchain gaming company developing the play-to-earn NFT game Frutti Dino, announces its collaboration with EYL, a quantum encryption startup. After signing a Memorandum of Understanding with the company, Monoverse will test EYL’s high-performance quantum random number generator chip as a hardware solution for beefing up the security of encryption keys in its blockchain projects.
Randomness is one of the central pillars for cryptography as a field. It plays a major role in the blockchain ecosystem, which heavily relies on cryptography to maintain the integrity of its operations. Crypto wallets generate private keys, which are crucial for controlling one’s digital assets, randomly. Currently, though, most encryption keys are produced by mathematics-based pseudo random number generators. Such algorithms can be deterministic in nature, which makes for an inherent flaw and a potential weak link for malicious actors to explore.
EYL is the first company to successfully use radioactive isotopes as the basis for chip quantum random number generator chips. Its Quantum Pulse Generator provides strong entropy, molecular randomness and disorder, to generate a truly random key in a way that cannot be reverse-engineered. Monoverse and EYL will explore quantum random number generation technology as a way to resolve vulnerabilities in private key generation and user authentication. Through its collaboration with Monoverse, EYL is looking to help it enhance the security of users’ private keys and cold wallets.
“Quantum computing is nothing short of a revolution for cryptography,” says Jaehyun Lee, CEO of Monoverse. “By teaming up with EYL, the leading providers of quantum-based RNG hardware, we are making our infrastructure future-proof. Their solutions will help us make blockchain and crypto even more secure for users, protecting their digital assets with true randomly-generated keys.”
