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WTF Are Quantum Hacks?
Recorded: May 27, 2025 Duration: 0:59:03Space Recording
Short Summary
In a recent discussion, key players from Shido and Go Home shared insights on their innovative projects, including Shido's upcoming ENSO upgrade and Go Home's unique meme coin strategy. The conversation also highlighted the pressing need for enhanced security in the crypto space, especially in light of recent high-profile hacks.
Full Transcription
Thank you. Thank you. Thank you. Good morning, good afternoon, good evening, wherever you're at in this crypto world.
My name is Cody and I'll be the host of this episode of Xtalks brought to you by Layer1X.
Hopefully you can bear with me here for just a second, having a little bit of technical difficulty.
I'm going to try switching over to my personal account, bringing that up
on stage so that we can get a co-host just in case dear old Elon decides to rug us on this
episode. So bear with me here for just a second. We'll be right back. Thank you. Thank you. All right.
Well, if you're just tuning in, my apologies.
We're having some technical difficulties. I can't even get my personal account to show up. So, yeah. Thanks for everybody for tuning in. We will go as long as we can. Hopefully these issues won't rug us. for a new link coming out very, very shortly. But let's knock on wood and hope it doesn't happen.
So thanks for tuning in.
My name is Cody.
I will be your host for today's episode of WTF, our quantum hacks.
So it should be an interesting one.
We've got a couple of good panelists lined up.
One of those joining me is Shido. Shido,
if you want to go ahead and give yourself a quick intro, that would be fantastic.
Hey Cody, hey Layer 1x. Hello everyone, thank you for having us again. Always a pleasure.
So for people that don't know us, we are Shido. We are a layer one blockchain built on both EVM and Wasom.
We have our own native DX, our own native wallet. A lot of things coming and it's a big day for us
actually because we have our ENSO upgrade which is our second blockchain upgrade in one year
that is happening today. It's in five hour and a half or something
like that so yeah it goes live on mainnet really really soon so the whole community is super hyped
i think you can see them in the in the audience so so yeah scary topic today i I guess. I do technical, so I hope we will make it there.
Yeah, that's awesome.
I always love to hear people evolving and continuing to innovate.
That's for sure.
We're the same way with moving on to our quantum resistance
over the next couple of years.
So kudos to you guys.
Congrats.
And yeah, a well-deserved accomplishment.
That's for sure.
We've got a new face joining us.
Go home.
GMGM, friends.
Thanks for having us.
My name is Adam Phil.
I represent Go Home right now.
Shout out to Shido. Great project. Have the privilege to work with them as well.
Go Home essentially is a meme coin project that is inspired by the WhiteHouse.gov Españolgov, right after the day that Trump got inaugurated,
it said, go home instead of go to homepage. So we'll never know if it was a sarcasm,
if it was intentional, if it was not, and if it was just a mistake, they obviously then fixed it
and removed it. But that's how the project started. Then we have expanded the notion of going home
to mean something more than just a meme.
It's not about quitting,
but it's about choosing clarity, self-awareness,
and sovereignty in a chaotic digital world.
Whether it's go hard or go home
we often bring this up we also say go home when you're drunk or you know the degen cycles that
keep on uh giving and being in in this crazy crazy um meta that we live in right now it's great but
you know meme coin mania can be engulfing for people so go home taps into the human side of
web3 a reminder that behind those wallets there are people from all over the world right now
actually we're one we've launched a um kind of a billboard campaign or a screen campaign we've got
41 billboards and 413 screens around uk because we're running a go home meme
olympics and to join it's super easy because you can just add us at go home token and obviously
include the hashtag go home olympics with your dankest and funniest meme and we'll choose who goes on to these UK billboards
in front of the millions of eyeballs. Aside of that, you know, the project is doing a lot of
good partnerships with vitamin AI recently. We've announced many cool things as well as a
clicker game that's coming soon. I can't tell more about this, but I shared the sentiment with Shido
because this is a quite technical topic.
So I'm not a technical guy,
but maybe we can talk about
some of the marketing aspects of it.
Thanks for having us again
and sorry for my long-winded answer.
No, that's awesome.
It sounds like a pretty fun meme coin.
So thanks for being here.
We've got a few other panelists that are supposed to be joining us.
I guess they're running late on a couple of different AMAs.
So we'll wait for them, but we won't wait for them.
Excuse me.
Having a hard time talking.
We won't wait for them.
We will get this kind of kicked off. And so,
you know, today's topic is definitely one of interest, especially with a lot of the different
hacks that have just happened just this year alone. I think a lot of, Sui, that just got hacked for $223 million in USD just about a week ago.
And so, I mean, that's a huge, huge heartbreak for a lot of people that are over on that network as well.
And so, you know, as the luxury of having Layer 1X as well as Shido on here coming from a Layer 1 perspective, joining this conversation, it will be really interesting as we kind of talk about the security moving forward.
that. And so we'll be diving into that as well as like, what is it going to take to become
quantum resistant? And what are quantum hacks? So, you know, let's start it out pretty easy.
The questioning around just basic security protocol. Shido, do you want to take a swing
at like what you guys are doing to kind of help uh fortify and
protect your guys's um your guys's blockchain from malicious exploits and things like that
yeah of course i i mean we had the great spaces today actually where we talked about past events
and and things like that that happened before we became a blockchain and how we learned from other I mean, it was our top priority in
terms of finances to actually hire the most competent people to audit our chain and to
make sure that our protocol was totally secure. That's why we went with Zocchio for an audit
on the chain and on the DEX and we got super high audit scores with 92 out of 100
for the blockchain and perfect score on the DEX also.
So yeah, that was the first measure to make sure
that we have this quality control.
But then you also have to make checks yourself
and your community to constantly try to find issues with your code base, constantly try again and again and again.
And those would do those checks on a regular basis to make sure that security stays there.
And also you need to implement a certain level of decentralization because if you want to be
secure even if there is one place that could fail if you are decentralized the
other will take over. So it's always better this way. I mean what the most
important I think in terms of security is to always be on the lookout.
I don't know for others, but Shido blockchain has never been hacked.
It has no downtime since it was launched.
And I mean, we have been attacked, GDOS attacks all the time.
It's happening on a weekly basis and it still exists.
So far, so good, I guess.
Knock on wood.
No, that's awesome. How about you go home? I mean, you're not a layer of...
I'm not very technical, but how was Sui hacked? Do you know? Like what was exploited there?
I'm not aware of the details. If I may, it was their main liquidity provider, their main DEX, if you want, that was hacked.
It was not their protocol itself, but their main DEX that was hacked.
And so the blockchain itself didn't suffer a hack.
It's their ecosystem.
So all the projects that are under the blockchain suffer from that.
And what was exploited exactly?
Like, how did they get into that?
They took the whole liquidity from the liquidity provider, pretty much.
Jesus.
I mean, that seems to be one of the biggest types of hacks out there are the smart contracts type of hear on a regular basis is, you know, the smart contracts, the people basically, you know, keeping their password as password one, two, three kind of thing.
Especially when it when it comes to pretty secure data that they're supposed to keep well, well protected, but they don't.
And this is this raises a lot of question, I mean,
especially for investors that are coming in that are always looking for, you know, great new
projects to kind of develop and do. And it's like, how do you know if they're going to be,
you know, how do you know if they're going to be good? How do you know if they're going to be,
You know, how do you know if they're going to be good? How do you know if they're going to be, you know, above the cuff when it comes to these kind of evolving threats?
Not only from layer one blockchains, but, you know, as they kind of adopt new technologies, you know, sharding, roll ups, you know, those kind of things.
those always enter in new kind of attack opportunities to come in and attack people.
And, you know, I'm curious from a project standpoint, like from you guys go home,
like what are you guys doing to add extra layer of protection on top of it as well?
Well, I guess it's meaningful partnerships because we're not in uh you know
necessarily a um like a technical project so we we try to do partnerships with projects that are
secure that know how to do things that we don't know right i mean and as well as the a what is
it called the distribution or diversification so we don't put all the eggs in one basket.
We don't work only with one chain or one layer
and one centralized exchange as well.
So it's a lot of meaningful partnerships,
a lot of doubting yourself
and making sure that you're prepared better.
But my interest lies in where does the accountability fall there
when such a thing happens, something like SUI, or for example, I believe it was like a couple
months back when the Bybit was hacked, right? So where does the, was it Bybit that had a fake multi-sig thing happen, generated, right?
And it was a purely human error.
However, it affects us all because the overall Web3 space is considered a scam thanks to that or as a result of that.
So where does the accountability fall for that?
Like if we rug, if I rug, I know that accountability lies with me.
However, there's also, there are questions with like, in regards to, does it actually
fall on me?
Like, can somebody come and sue me?
But especially with CFI, like central exchanges, where does that, where, where the account,
where does the, where, where the account of, where does the accountability
fall if people lost, excuse me, I think it was like a billion dollars by bit lost.
So how does that work in U S for example?
Well, basically in the U S if, if you do end up going down, I mean, obviously you can be sued quite a bit, actually.
I mean, a good example of that is if you followed, it wasn't necessarily a hack, but it was an inside job, hack job, I'll call it, with a group called SafeMoon, if you ever heard of them.
I'll call it with a group called SafeMoon, if you ever heard of them.
They were kind of leading the news this week on terms of, you know, corruption and stuff like that.
With the founder actually getting committed, found guilty on, I think, 46 counts of fraud and wire transfer fraud, stuff like that.
six counts of fraud and wire transfer fraud, stuff like that. So he's definitely going to
be going to jail for quite a few years. But, you know, that was an interesting one. But
so there is a little bit of accountability. And I mean, that's where, you know, you look at some
of the projects that were kind of around that era that started here in the U.S.
A lot of them were faceless.
A lot of people didn't like the docs just because of the regulatory compliance, which is still kind of, it's got a little bit better of a direction.
But on the same sense, too, it's still kind of up in the air on some of the things.
It's nice to see that we are starting to move towards some final, what's the word I'm looking for, kind of understanding or an agreement or some level playing field that we can build from being established here.
But in the same sense, too, it's kind of…
I mean, look at Libra. Similar thing happened with Libra, right?
Yep. Yep. So, I mean, I think that there is some accountability that definitely needs to fall in
there, especially if you are registered in the United States. But however, how do you get around
those ones that are listed in those not so friendly, you know, extradite type of countries
that when you try to get your money back
from these exploits, you know, things like that.
And I think that, you know,
a lot of it does have to rely on some of the projects.
I've seen some projects out there that have been hacked
and have been made whole by the founder and the team.
But on the flip side, I've seen some that are just like, oh, we got hacked.
Oh, well, we're done.
We're out and about, right?
And then they move on to the next project, which to me, those are the ones that kind of seem to be a little bit more shady, a little bit more of the ones that, I mean, financially,
they probably can't recoup from a major hit like that.
And a majority of those have always been kind of the smaller DeFi kind of projects,
meme token kind of stuff. And because a lot of them, and no ill will to you go home, but,
you know, a lot of these guys that do start up these meme projects or utility projects are just forks of existing projects, right?
Tomb Fork back in the early 2021 era was like the number one contract to fork and start a new meme or new DeFi project off of.
And, you know, those kind of contracts, the tuned fork,
if you knew anything about the tuned fork, it had a major exploit in it.
And a lot of people were just kind of copying and repasting it,
slapping a new skin on it and calling it good.
And, you know, if people found out that it was the same one,
it was an easy exploit.
And some projects were claiming that they were fixing the issue
and all this kind of stuff.
But when push comes down to shove, I mean, you know,
you had flash loans, you had all these different types of exploits
that were being done to basically, you know,
brute force kind of stuff
to basically break the ecosystem.
And it was just sad all the way around.
But for L1s, it's a little bit of a different story
because we've got some major stuff that has to be basically protected.
And a lot of that's done through like the consensus models that we do.
A lot of it has to do with, you know, different types of security stuff that we put in
from, you know, DNS hijacking and all this kind of stuff that you hear about.
But, you know, what's really interesting, and you brought up a good point, go home, is just like, you know, who is really accountable?
And I mean, from a centralized experience, I mean, a lot of those guys do take the precaution of they are the fiduciary.
So they have a financial responsibility to it.
financial responsibility to it.
And so, I mean, that's why we've seen, you know,
a lot of those guys that have been hacked
or at least threatened with hacks,
that they step up and protect,
but these kind of other projects
that aren't so decentralized, excuse me,
that are more decentralized are kind of iffy on it, right?
And so I know for us, we try to take every precaution.
Since we've announced our quantum resistance upgrade,
there's been a few attempts.
I mean, every blockchain has attempts at it,
but we've had a couple of different attempts at us even.
But nobody's been able to break through because we do put so much emphasis on security and that kind of stuff.
But I'm curious. There were a couple others, and I was trying to remember them, that have just happened this year alone.
And they were pretty big.
Do you happen to remember who they were?
I think you rocked a bit.
I think you rocked a bit.
You rocked a little bit.
Oh, yeah, you rocked a little bit.
Yeah, I think you were talking about other projects that got hacked or something like that.
I'm really not sure.
I mean, it happened so much in crypto.
It's like every month you have new projects that get hacked.
So what I can say is in terms of...
Yeah, there's like these specific ones
i'm trying to remember who they were i'm trying to look them up i want to say one of them was curve
um do you guys remember hearing anything about them
really curve yeah i'm not sure actually uh not sure
Yeah, I'm not sure.
I'm not sure.
What I can say is that in terms of international business laws, and when it comes to actual
accountability, especially for centralized exchange, they are considered as professionals,
and the users on their platform are not professionals.
So the professional always have their accountability when it comes to a
transaction with someone that is not in the professional world. When it comes
to decentralized finances it's a bit different. It's not the same as
centralized exchanges because the responsibility is shared in terms of
the decentralization. So the business is usually, the five businesses
have to ensure the continuity of the business.
But when it comes to losses incurred,
it's not the same as a centralized business
where they have the full responsibility of themselves
pretty much in terms of international laws right now.
One thing I would like to add in terms of accountability,
there are not no international laws for rugging.
However, there are really good overall frameworks
created within the EU.
And one thing I know for sure that if I want to research
and if I'm researching a project and I want to go on a whim and trust them or whatnot, I know for sure that if I want to research and if I'm researching a project and I want to, you know, go on a whim and trust them or whatnot, I know for sure that they have way less incentives to rug if they are operating from within the EU, which on one hand costs a lot of money, but on the other protects future investors and token holders of this project because it either is a utility project or
the securities project and they have to be MICA compliant. MICA or MICA is a EU framework which
forces all the crypto projects and blockchain related projects if they are releasing a token
to be compliant and in case they rug you can essentially go to the country that they operated from and sue the owner, sue the founder immediately if you own the token.
So that is a very good, at least a rule of thumb for me, that if they're from the US, it's much harder to get justice than in EU.
get justice than in EU. I'm not chilling for EU, but the general framework is much,
much more secure, especially in places like Liechtenstein or even Switzerland. Switzerland
isn't in EU, but it's got a very good framework. So a lot of RWAs or WA projects are from there.
So yeah, that's what I usually go by yeah and it's interesting
that you bring that up because there are a lot of different um you know countries that are starting
to get on it i don't want to say the same micr um kind of thing but they are starting to become a
little bit more friendly i believe singapore was also another one that allowed allows a lot
although sorry to interrupt uh but there's also dubai that people say oh my god dubai it's so
great it's not okay it offers a lot of good real estate nfds and stuff like that but it's not
so um great in terms of like it gives a lot of leeway to founders. For founders, it's great,
but it doesn't hold nearly as much accountability factor as you, or even Singapore,
and Hong Kong, I believe as well. So it's a huge lie when people are shilling Dubai or UAE in general, because it doesn't have
all of the, I mean, it doesn't have that much free court as well.
And it doesn't have all of the frameworks in place to secure your unrugability, let's
say, if that's even a word.
If I may also add, we operate from Sweden, so we are pretty familiar with the Maika and everything.
So yeah, it's a whole framework. It's more focused on the Sunrise exchanges, mostly for Defi.
It's more about accountability, like you said, on the actual business side. But what I wanted to say regarding international laws is
that international laws are completely codified from the jurisprudence, if you want. So meaning
that if Europe start to do something and Singapore start to do it and Hong Kong start to do it
also, then it will happen for everyone in the world at some point because it becomes
something that is done on a regular basis. It becomes a new standard and this is how
international laws are created. So basically you could say that for this point Europe is
kind of leading the charge and it will happen to everyone
because if your business operates in Europe, it can be sued in Europe, even if their headquarters
are not in Europe, pretty much so.
By the way, how much, sorry to digress the conversation, I'm just really curious how
much the tax on crypto is like, is there a crypto income tax on Sweden?
And is it high? Like if you're
getting paid in USDT, for example, I myself not in Sweden, but it really depends on the
countries in Europe. And there is some sort of framework. But it really depends. Most
countries in Europe treat the crypto as the same as stock pretty much so the tax is similar
to stock usually but you have some examples capital gain tax if you're even getting paid
with usdt for example it's a capital gain tax that's crazy yeah yeah it depends on countries
also because there are some exemptions also so if you go to countries like Portugal, for example, if you keep your crypto for two
years, you are exempted from tax on it, for example.
So, dude, I live in a country in Eastern Europe.
It's not in EU.
It's called Georgia.
And I get zero tax on crypto.
I don't know how long it's going to tax.
It's going to last.
But holy shit, is it amazing.
Enjoy it.
Is that your promotion to have everybody move there?
I mean, you're free to come.
I'm here.
I'm here.
So, I mean, except next week I'm in Lisbon for NFC.
But I'm here.
I'll be glad to give you a tour of the capital.
It's a great wine.
If you like wine, we have all the wine in the
world. Wow. Yeah. It sounds like a fun place to come visit. Zero tax, man.
No, that's, you know, it's interesting because, you know, we talk about the liabilities. We talk
a lot about a lot of different things, you know, in the sense of, you know, tax and all that kind of stuff. And in my way, in my feeling, tax is definitely a way to
hack into a project, that's for sure. But which definitely calls for the need for us to come
together for to kind of set the standard and instead of relying on governments to come in and tell us how it's
going to be we need to kind of set the presence on that so that we can push back a little bit
but anyways uh i digress on that that element of it definitely don't want to get rugged by elon who
has the ear of the orange man himself so i think it's like an algorithm that bugs in space as soon as you criticize him.
Mr. De-censoring himself.
Yep, exactly.
But no, I kind of wanted to talk about some of the newer threats that we are going to be
kind of facing here in the next couple of years.
We've heard about quantum computing coming out. And I mean, you think about
some of these things that we need to start kind of preparing for now. And it's actually kind of
scary from like an investor standpoint. BlackRock just came out and was talking about how with quantum computing
coming out and those holding Bitcoin, there is a real vulnerability in there. I was trying to
pull back up the article again, but I can't seem to find it now. But they were kind of talking about
how with quantum computing, with your seed phrase or your private key can actually be upon billions of dollars in a wallet,
especially a hot wallet kind of thing that would basically be vulnerable to tax or these kind of attacks.
And so as a result of that, you know,
Is that like a god or something?
How the hell can it figure this shit out?
Like, it's crazy. Sorry to interrupt, but like, god or something? How the hell can it figure this shit out? Like, it's crazy.
Sorry to interrupt, but like, what the hell?
Yeah, I mean, these kind of quantum computers are amazing
in the sense that, you know, the computational power
that these guys have, because they're like hundreds
and thousands of hundreds of thousands of computers
basically put together and kind of working on solving one specific problem
at a time type of thing. And that's why they're able to kind of hash through, which would normally
take a normal computer to kind of hack a seed phrase or even just a private key, you know,
a century almost to do. They can do it in a matter of minutes. And that should tell you the
computational power that these things have, which is amazing.
But it's also very, very scary.
I mean, that's where a lot of these,
we look at the advancement of technology,
this is where we need the AI to get to a point
where it can start doing, I don't want to say
superhuman computing, but I mean,
we're pretty much getting there anyways. But Shailo,
you had your hand up, go for it. Yeah, yeah. Is it fine if I go really technical on this?
I mean, heck yeah, go for it. That's what we're here for. I'm not an expert, but I'm super
curious about all that. So I do my research. And so yeah, for instance, the first thing that we
need to understand is that quantum computer are not a
real thing right now it's a theory it's something that is working in some experiment but it is
highly unstable so i think the the first prediction at getting a stable computer a quantum computer
is pretty much 2029 it's ibm that declared that, but they are far from it.
So that's the first point that I wanted to say.
People usually, they think that quantum computers are super computers, but it's not the same thing. The quantum computing is totally different,
actually. When you take a normal computer, it operates
based on bits. The bits read O's and O's. When it comes to quantum computers, it's qubits,
and the qubits actually read O's and O's, but can also be interpreted as both at the same time,
meaning that they can be superposed and they can actually interoperate with each other from a distance. So it means that to image it a
bit, if you have a multi-layer security, the quantum computer can read every layer
at the same time pretty much. That's why it's dangerous for cryptography and everything. It's not better than
computers in some aspects, but when it comes to cryptography, calculation and everything,
it can do everything at the same time so it becomes way more powerful. And that's why you can
have hacks happening on crypto wallets in a matter of instance.
But it's all in theory,
because right now it's super unstable.
It's something that is prone to a lot of error.
It's based on probabilities.
What they do to actually control the qubits
is that they either send microwaves or laser to it
so that they can control those qubits to make an operation.
But it's highly unstable.
They need a perfect environment for it, a perfect temperature, a perfect outcome.
And they cannot control it at all.
If you ask a computer specialist, it will tell you that they know that the
theory is possibly working, they know the possible
outcome, but they don't know the process pretty much.
It's like when you add the creation of a smartphone.
It made sense in terms of physics, in terms of mathematics, but how it was working, really,
the details, the stable element and the whole theory around it was not clear at the time.
And then we had the breakthrough and now we understand how it works.
And it's pretty much the same about quantum computing.
So yeah, that's the technical element.
No, I love it. I love it.
I wasn't planning on going that technical because a lot of people don't know all about quantum,
but that was a good summary of it.
I love it.
Yeah, I mean, to kind of further to push your narrative there on the quantum computing thing.
Yes, a lot of people are basically estimating that, you know, quantum computers capability
will probably reach kind of more of a public setting
around 2030 to 2040.
With like you were saying, a lot of them are saying by 2031, there's a good probability
that we'll see our first mainstream one coming out that will be kind of leading the charge.
And it'll be interesting to see who will be that first one.
I mean, there's a lot of them that are working on it from Google to IBM to, you know, Microsoft
and all these big, big major tech companies.
It'll be really interesting to see who can kind of crack the nut on that and get it,
like you were talking about very secure and very
controllable. Because yeah, it's just like with any industry, it's definitely in its
infancy stage of development and test trial and error kind of thing. But yeah, these Qubit things
are amazing. So if you guys ever want to go down a rabbit hole,
I highly recommend you do it.
It's one of those things that'll keep you up at night
doing kind of a deep rabbit hole thing.
But yeah, so I mean, that should tell you right there.
The main theme, like I said, what are quantum hacks?
You can kind of put two and two together.
And the major thing is, is that we've only got a few more years to kind of button up the holes and re-engineered it so that we can at least
fight a lot of these very common hacks that we're experiencing, we're going to be in major,
major trouble when that time comes, especially if hackers get their hands on a couple of these
computers. And who's to say that as soon as the first quantum computer comes out,
that the first AI connected to it won't take over the world
and become Skynet as we'd know it, right?
So it's interesting.
I've been following a couple of these different AI models and some of their stuff.
And it's really interesting how a lot of them are starting to give pushback on things.
A lot of them are starting to copy their own code so that they can't be changed.
And yeah, it'll be really, really interesting, especially as the quantum computing comes out. It really gives AI
the ability to kind of naturally evolve itself within in its own environment, which is really
interesting and really scary at the same time. But yeah, kind of moving forward with that, I mean,
Um, but yeah, uh, kind of moving forward with that.
I mean, you know, there's, there's a lot of, uh, I'm not a huge fan of seed phrases and
private keys.
And, uh, I share a same passion with our founder of layer one X.
I think that it's too overly complicated, but in the same sense, we have to have something
that's going to be
very complicated, you know, for these quantum resistant kind of alternatives
that we're going to need to implement down the road.
If it's already too complicated, I can only imagine what it's going to be in the future.
Kind of curious your guys' thoughts around that.
Can we simplify it without making it too much harder?
Or are we just screwed anyway?
We look at it.
Quick question.
You know what I don't understand?
Why is Face ID not a suitable option for most things.
Like why?
Because I'm using that with my banking.
Maybe I'm just too stupid to understand.
And this is space's host speaking.
This is not the GoHome's opinion, by the way.
I don't want my stupid opinions to be affiliated with GoHome.
But like why?
Like I'm using it to transfer money from my bank account.
Why is it not enough in most cases?
I mean, other times, self-custody means you have your own things, right?
I mean, that's not like conceptually speaking, you can't rely on a decentralized system to, you know, what are you going to do?
Like, bring it to your ID or a passport and say, hey, this is me.
Give me my money back.
Like, what are you going to do, right?
Unless it's a bank and unless we're still moving, going back to square one, which is decentralized institutions.
So what's the, like like i just don't understand does
it have to work with apple all the time do you have to like give it 30 or why is face id not
sufficient you know um i'm not a huge tech guy but from what i know is that um kind of those biometrics can actually be hacked as well.
They are still very vulnerable.
It's not like you see in the movies like Mission Impossible
and some of those things where it's like eyeball retina kind of scan thing.
It's more of like a face.
And if you want to do a good test,
we were kind of played around with a, my kids and I were
playing around with a phone and I was telling them about being careful of what they post out on
social because people can actually take their face and create, you know, these videos and stuff
like that. And they're like, well, people create videos, they're going to an extent and i'm like
well you can do it more than that and i took a photo of them and i stuck it in front of their
iphone and it actually unlocked their thing using biometric kind of stuff um it had to be a very
high quality photo but you think of where these ai these ai capabilities are going, I mean, anything's possible at that point.
But from a more granular structure, from my understanding is that those biometric things,
fingerprints, face scans, all that kind of stuff can actually be pretty much hacked.
Once they have the digital code of it and the key of it,
they can just basically reproduce it.
Shadow, you wanted to say something?
SHADO MADERIER- Yeah, I mean, pretty much the same
that you wanted to say about Face ID and everything.
But I wanted to explain a bit more about the quantum acts
and the word narrative, because I think it's something important to understand that
we are talking about that we are hearing about it a lot and it's all marketing
and not in a bad way it's marketing to push innovation it's the labs the
actual people that are looking into it that need this narrative to be out there
to pretty much scare people so
that they can actually have the funds to develop those security solutions for what's coming later
on. It's like if you go to war you need a new weapon for that and it's pretty much the same
happening right now. We know quantum
computers are coming, so they need to develop security solutions and they need the funds for
that. And that's why cyber security is taking such a huge leap lately, because you need those new
solutions that are coming. And I mean, I think the solution that we can have, you can take Face ID for example,
but you need to couple it with other type of securities also. So you have wallets, for example,
that use an external hardware, but not an hardware where you have your crypto on it or anything like
that, just like a card or something like that that that is also an ID that you can actually
connect to your phone additionally to FaceID and have your actual transaction validated by that
not only by one element not two elements but more than that and you don't need the the encryption
with the the blockchain keys and everything like that. It's different.
It's all... You have both external and internal factors pretty much.
And I think it's the direction that most of the industry is taking when it comes to security right now.
It will evolve because quantum computers are not, like I said,
are not a real thing yet and we really understand it more in the future.
So the security will become way more developed based on that.
But it's the first step, I would say.
Yeah, and I've had some good conversations with our founder about this.
And we don't talk too much about it just because it's a pipe dream
of ours, but eventually it will get there, is, you know, for us, we are built on a proof of X,
which is basically a proof of participation consensus, right? And so for us, we're able to,
because we are multi-chain, because of our, we've built our own VM and consensus models from the ground up,
we can pretty much go all EVM and non-EVM chains and follow users across and collect data on them if we really wanted to,
to the point where the more that they participate on any chain
or specifically on the Layer 1X chain,
we can actually protect them a little bit more.
Because to your point, having a secondary, a third validation is going to be key.
And we feel that a hacker, if they get access to one component of it and they try to to brute force a a wallet or
they try to brute force access into one of your your projects that you have an account with type
of thing you know we can pretty much stop that because we can see hey you know this is coming from an unknown IP, or this could be, we could ask if the activity is a little bit off of the normal activity from what you've been doing in the past,
we can prompt a security question to kind of block the activity on it.
it. You know, it's kind of like these different things where it pulls public record data,
where you would have to ask it on the fly to unlock your account or, you know, something like
that. But, you know, we feel that that's going to be a huge component moving forward because,
I mean, it's an unfortunate thing when people lose their keys to their wallet and they lose their funds in a sense.
And so, you know, this actually opens up a world of opportunity as well, because now there's
opportunity for you to basically have, you know, beneficiaries of accounts, of wallets.
You can actually have other people help you unlock your account, but the security needs
to be in such a way that that can't be compromised by any means. And so there's a lot of development
that needs to happen on that. But I think that there are a lot of different projects, including
us, that are kind of working on trying to solve the whole encryption and protection around assets and identity and stuff like that.
And so it'll be really interesting to see where we go.
But I think, you know, to your point, Shido, you know, it is coming.
coming. There are things that we need to start preparing for now. I mean, we're only, we're only
There are things that we need to start preparing for now.
what, four and a half years away from, from 2030, which is kind of scary and it's kind of fun at the
same time. But, you know, this is kind of one of those things. It's, it's like a wake-up call
for a lot of people, especially in Web3, to start preparing for it now.
It's very similar to some of the other things that we hear about all the time.
You hear these people preaching about all these different recessions that are going to be happening
and all this kind of stuff in our local economies.
And so those that do take heed are usually the ones that survive pretty good. And
those that don't are the ones that are kind of feeling the pinch when the time comes. And so
I think that for us, that's one of the main reasons why we're getting out, trying to kind of
kind of get behind the quantum, the whole quantum cryptography push and security and safety around it as well.
So that we can start these conversations, these things that need to happen, because it's not like you can just flip the switch and turn on quantum resistance and quantum protection.
It definitely takes a few years.
I mean, we're working with Western Australia to try to make this happen.
I mean, we're working with Western Australia to try to make this happen.
And it's going to be at least a two-year minimum for us to be able to implement a lot of the things that we want to do.
And so, yeah, so that's why we're trying to get ahead of it as well.
So, yeah, just kind of we're at the top of the hour.
Wanted to give you guys a quick outro.
If you guys wanted to do it, just drop some alpha if you wanted to. That would be great. I want to thank you guys a quick outro if you guys wanted to do it just drop some alpha if you wanted to that would be great uh want to thank you guys for jumping on and participating we appreciate
you guys uh we'll let go home since they're the a new one to the to the space we'll let them go first
and uh go for it thank you sir it's been a wonderful discussion i learned a lot um as of shilling we've just
launched the meme olympics i encourage all of you to check out meme olympics there's a huge
prize pool on the table as well as a possibility to go in front of millions of eyeballs across uk
because we rent most of the billboards across all of UK and London as well.
So there is a huge London takeover and your meme could be shown to millions.
So that's that's some alpha.
Thank you guys so much.
Wonderful conversation.
Hope to be here next time as well.
Cheers.
Awesome.
Well, good luck with that.
And Shaito, take us home.
Yeah, thank you for having us here.
Always a pleasure.
Always a pleasure be it with both of you.
I mean, it's on a regular basis and it's always great.
So yeah, I just wanted to say, just to go back a bit on the topic,
it's with things like that that forces us in a way to collaborate with each other and to
have a healthy competition in crypto also so it's really important to remember that so yeah regarding
Shido like I said at the beginning we are having our ENSO upgrade of our blockchain today faster
cheaper more secure and with the burn mechanism.
So definitely check it out.
We have a huge positive momentum in the community right now.
Everyone is pretty much hyped.
So yeah, feel free to join our Telegram and interact with us.
The community is totally great.
And you definitely want to check it.
And yeah, been a pleasure.
Always great. Yeah. See yeah, been a pleasure. Always great.
Yeah, see you soon, I hope.
Yeah, thanks for showing.
I actually showed up to one of your guys' faces last Friday.
It was a really fun conversation on L1s and L2s.
So definitely, definitely, this is all about,
Uh, definitely, definitely. This is all about, uh, layer one X is all about uniting, uh, projects, chains, bringing it all together, uh, in so that we are focused on quantum-resistant interoperability, which is basically because we've built our own VM and consensus models, we can actually speak natively to all these different chains.
need the use of a bridge, which makes it more decentralized, more secure, and even faster and
more cost effective for you, the user, as you're kind of making your way around Web3, you can jump
from project to project and know that you are totally secure as a result of that instead of
using those risky, costly bridges. So, yeah, totally appreciate you guys.
Totally appreciate our listeners tuning in today.
We couldn't do these spaces without you.
Definitely give these guys a follow.
They definitely deserve it.
Got some great projects cooking over there on their side of things.
And, yeah, still waiting for us to kind of collab together on on something shido so
putting that that offer out there yet again so i would love to see it happen so until next time
everybody keep working to unite all the crypto and we'll catch you on the flip side have a good one
bye-bye Thank you.
Host
LayerOneX
from
Layer One X
Speaker
GOHOME TOKEN
from
GOHOME
