Demand for public networks is growing as they showcase an extensive list of possible applications across a wide range of industries. This market is ruled by Ethereum, a public chain known as the "world computer." But there are many other competing public chains in the L1 track due to the high cost and low efficiency of Ethereum. Abelian, which has unique features of anti-quantum and privacy protection, is also a player in this space and should not be overlooked.
Abelian is a privacy-protected L1 blockchain that uses the lattice-based cryptographic algorithm standardized by NIST and proves its security through cryptography. Its goal is to create a secure digital ecosystem, build a post-quantum zero-knowledge bridge, and support EVM equivalent blockchain networks to empower Web3 and DeFi applications. Additionally, Abelian plans to build an L2 network with anti-quantum and privacy protection features to create a more efficient and secure network.
Antidote to Quantum Supremacy
Quantum computing has rapidly progressed in recent years. In 2019, both Google and IBM constructed 53-qubit computers, while in 2021, a Boston-based startup called QuEra built a 256-qubit computer. IBM has announced plans to build a 1,000-qubit computer in 2023. Furthermore, PsiQuantum secured $215 million in funding, including from Microsoft, to develop a 1 million qubit quantum computer. As computing power increases, the possibility of cracking digital signature encryption technologies like elliptic curve cryptography (ECC) and RSA using algorithms like Shor becomes a real threat to blockchain security.
A quantum system with 317 million qubits can crack the ECC algorithm that secures the Bitcoin blockchain in under an hour, according to University of Sussex scientists. A quantum computer with 1.9 billion qubits could crack it in just 10 minutes.
To address this threat, the founder of Ethereum, Vitalik Buterin, has highlighted the need to upgrade Ethereum's anti-quantum attack algorithm, and has identified it as a key task for the project in 2023. However, upgrading already existing blockchains with the anti-quantum attack algorithm is extremely difficult as their architecture was not designed in accordance with such a task
But the Abelian system inherently resists attacks from both traditional and quantum computers. It uses a lattice-based approach, included by the NIST (National Institute of Standards and Technology) in the list of four encryption algorithms for quantum resistance. Their PQcrypto standards are expected to be published in 2024 and adopted by the US federal government.
Abelian's cryptographic algorithm is considered to be at the forefront of anti-quantum cryptography technology, demonstrating both safety and reliability in cryptographic applications, and earning recognition from authoritative research institutions.
Privacy as a Priority
The United Nations Declaration of Human Rights recognizes privacy as a fundamental human right, and in the Web3 era, privacy protection is more crucial than ever before. Cryptocurrencies rely on public ledgers that are accessible to anyone, which can put users at risk. Wallet addresses and transaction details are open and transparent, making it easier for hackers to gain access to sensitive information. As a result, protecting the privacy of smart contracts and off-chain data has become a pressing issue.
To address this issue, many developers and leading venture capitalists are focusing their attention on privacy-focused projects at both the protocol and application layers. In an interview in late October 2022, Ethereum developers expressed their intention to achieve four key goals in the coming year, two of which pertain to privacy.
Abelian is a blockchain that prioritizes privacy. All activity on the Abelian network is encrypted, which offers greater security and privacy than the Bitcoin network. Abelian offers three privacy level options that strike a balance between security, privacy protection, and compliance requirements:
Basic Privacy: Similar to the pseudonymity used by Bitcoin.
Complete Privacy: Hide transaction amounts and wallet addresses using a lattice-based linkable ring signature and commitment scheme.
Complete Privacy with Responsibility: This level of privacy may be suitable for enterprises, especially in industries with high compliance requirements such as financial services.
While privacy protection is critical, privacy coins have been criticized for their potential use in illegal transactions. To address this, Abelian employs linkable ring signatures based on lattice technology, which is also used by the privacy coin project Monero. Abelian further protects privacy and assets by hiding wallet addresses and transaction amounts through a commitment scheme and zero-knowledge proof system.
Abelian is a project in the blockchain space led by a group of experienced cryptographers, mathematicians, and computer scientists. The team's core members have over 20 years of experience in cryptography, with expertise in zero-knowledge proof systems, digital signatures, and well-known blockchains such as Bitcoin, Ethereum, R3 Corda, and Hyperledger Fabric.
Some notable members include Dr. Duncan Wong, who co-invented linkable ring signatures and has authored over 200 cryptography research publications; Professor Huaxiong Wang, a top international cryptographer and mathematician proficient in lattice-based cryptography, threshold cryptography, and secret sharing; Professor Khoa Nguyen, a well-known cryptographer who has published papers in EUROCRYPT, PQCrypto, CRYPTO, and other prestigious conferences; and Professor Guomin Yang, another renowned cryptographer who has published papers in CRYPTO and ASIACRYPT.
Abelian's research papers have been published in reputable academic journals.
In 2018, a paper titled "Key Isolation and Privacy-Preserving Signature Scheme Using Publicly Derived Public Keys" was published in IACR, co-authored by Professors Guomin Yang, Huaxiong Wang, Khoa Nguyen, and Dr. Duncan Wong. The paper was later published and included by EuroS&P, ESORICS, and "IEEE Transactions on Reliable and Secure Computing" in 2019, 2020, and 2021, respectively. In 2019, another paper titled "A Lattice-Based Connectable Ring Signature Supporting Stealth Addresses" was published in ESORICS, co-authored by Professors Khoa Nguyen, Guomin Yang, Huaxiong Wang, and Dr. Duncan Wong.
Peer-reviewed by scientists, their anti-quantum encryption algorithm has been shown to be the world's first completely secure algorithm and has been rigorously tested in mathematical confrontation mode.
Abelian has also sponsored various events, including the IEEE Blockchain Group Hackathon in Hong Kong in 2022, ACISP 2022 (Australia's largest and oldest cryptography research conference), Euro S&P 2023 (IEEE European Security and Privacy Symposium), and ESORICS 2023 Symposium in the Netherlands.
ABEL at the core of Abelian ecosystem
The Abelian ecosystem has a native token called ABEL, with a total supply of 225.18 million, Neutrino being the smallest currency unit in Abelian. The exchange rate is 1 ABEL = 10^7 Neutrinos.
Abelian produces a block every 256 seconds, with the mining difficulty being checked and adjusted every 4000 blocks. Each epoch consists of 400,000 blocks and takes about 3.25 years. The block reward for the first epoch is 256 ABELs, and it decreases by half for each subsequent epoch. The block reward for the last epoch is 0.5 ABEL. The genesis block pre-mined 20.58 million ABELs dedicated to promoting decentralization and supporting the Abelian community.
The mining reward for each era decreases, with the final era rewarding 0.5 ABEL per block. It will take ten epochs, or 32.5 years, to mine all the tokens. ABEL aims at empowering the privacy-protected and anti-quantum Abelian ecosystem. The project roadmap indicates that ABEL will be listed on leading exchanges in 2023.
The Result of Four Years of Work
Abelian is a project that has undergone four years of research and development since its launch in 2018. In 2022, after the mainnet was launched, Abelian raised $3 million in funding led by Draper Dragon, with additional investments from high net worth individuals and family offices. The funding will be used for project technology development, reserves, marketing, and support for Abelian ecological partners. Draper Dragon, a venture capital fund established in 2006, has invested in early-stage companies such as Coinbase, Minimally Invasive Medical, Ledger, and YeePay.
As of October 2022, there were over 3,000 miners from across the globe in the Abelian network.
Abelian plans to complete the upgrade from PoW to PoS within 36 months for better scalability and environmental benefits. This means that Abelian will maintain excellent security and decentralization while improving scalability. The network will be fully open-sourced in 2023. Additionally, Abelian will create side chains and protocols, such as Lightning Network, to support EVM-type smart contracts, high scalability, and interoperability, empowering DeFi, Web3, and Metaverse applications.
The L2 network development has started, and Abelian L2 will be based on the Cosmos SDK. The Abelian L2 will integrate the anti-quantum attack and privacy protection features of Abelian L1 and cleverly introduce the existing ecological power of Cosmos to create an efficient, decentralized, and secure technical solution.
Recently, the Abelian Foundation released a developer funding plan, offering financial support of $5,000 to $50,000 to outstanding projects. The goal is to attract global developers to join forces with Abelian to create a post-quantum encryption ecosystem.