Sollensys Corp. (OTCMKTS:SOLS) Stock Gains Momentum: Jumps 8% In a Week
Shares of Sollensys Corp. (OTCMKTS:SOLS) have been moving higher over the past week.
Market Stats
On Tuesday, SOLS stock moved up 3.80% to $5.19 with more than 14K shares, compared to its average volume of 863 shares. The stock moved within a range of $4.96 – 5.19 after opening trading at $4.96.
Sollensys Corp Developing Blockchain Verification Algorithm that can Repel Quantum Attacks
Sollensys Corp. (OTCMKTS:SOLS) one of the first cybersecurity companies to use blockchain, has completed its preliminary validation test of a blockchain verification algorithm that can repel attacks by even the most sophisticated quantum computer.
The test used a form of lattice-based cryptography, and was performed using a Sollensys Blockchain Archive Server to secure a data cache of the size typically generated on a daily basis by a large banking corporation. Recent developments in quantum computer hardware capabilities suggest a drastically changing scenario where quantum computing poses a systemic threat to blockchain integrity and security viability.
Don Beavers, CEO of Sollensys Corp. states that the company’s double blockchain technology represents the industry-leading approach for data security. However, quantum computers can rapidly evolve, and if this capability is exploited by nefarious actors, the threat level goes up significantly. The only solution is to adopt a proactive approach, so the company is developing a portfolio of algorithms which are verifiably resistant to an attack by a quantum computer.
This new suite of quantum resistant cryptographic algorithms is to be available as an option on other Sollensys data security products. Development of cryptographic algorithms that can thwart attacks by quantum computers, are currently considered to be national priority, and Sollensys is working hard to emerge as a leader in this space.
Key Quote
“Today the Sollensys double blockchain technology represents the industry-leading approach for data security. Period. However, the rapidly evolving capability posed by quantum computers, especially if exploited by nefarious actors, is an emerging and salient threat for tomorrow,” said Don Beavers, CEO of Sollensys Corp.”
Traders Corner
SOLS stock is trading below the 20-Day and 50-Day Moving averages of $5.74 and $6.84 respectively. Moreover, the stock is trading below the 200-Day moving average of $7.30.
