Privacy coin leaders are focusing on post-quantum narratives.

Written by: KarenZ, Foresight News

The crypto world has begun discussing "Bunker Mode."

On October 7, Justin Drake urged the industry to calmly plan for "Bunker Mode": prioritizing the migration of assets to new addresses that have not previously signed transactions and whose public keys are still hidden behind hashes, minimizing public key exposure. He is concerned that AI accelerating mathematical research may impact existing signature schemes, such as ECDSA, before the true quantum threat arrives. However, he stresses not to panic or rush into migration. This is a defensive recommendation based on potential risks.

Subsequently, Vitalik advanced the conversation further: the focus should also include lattice-based cryptographic schemes that are considered post-quantum secure, such as ML-DSA. In his view, the mathematical advancements brought about by AI may change the security margins of these schemes, therefore, parameters should be chosen more cautiously, and hash-based schemes should be prioritized in applicable scenarios. He also does not recommend that users rush to migrate funds immediately.

The discussion between the two raises a longer-term question: after changing cryptographic algorithms, can we continue to cope with new attack methods?

Quantus is at the intersection of this discussion. This new public chain adopts post-quantum cryptography from the start, using ML-DSA for transparent transaction signatures and implementing privacy transfers through zero-knowledge proofs, distributing proof costs. ML-DSA is also one of the schemes that Vitalik has reminded needs continuous examination. Therefore, understanding Quantus requires clarity on how it protects transfer authorizations, how it bears the costs of new cryptographic schemes, and how it will adjust security designs in the future.

Quantum threats: why it's also a migration issue

To understand quantum risks, one can start with a regular transaction. Users sign with a private key, the network verifies the signature, determining whether the transfer has been authorized by the respective key holder. For Bitcoin and Ethereum, which use elliptic curve signatures, if a sufficiently powerful quantum computer arises, Shor's algorithm could potentially derive the private key from the publicly available public key, thus forging the authorization. This issue touches upon asset control.

Existing public chains also need to handle upgrades and migrations: after introducing new algorithms, coordinating how old accounts, existing assets, and applications transition is necessary. Quantus's starting point is to establish a new chain that natively adopts post-quantum schemes, reducing reliance on existing cryptographic systems. This choice alleviates some burdens of transforming a vast old system but also means it needs to build user trust and credibility from scratch.

What is the background of Quantus?

Quantus is an independent Layer 1 blockchain mainly used for storage and transfers, combining post-quantum cryptography, privacy transactions, and proof of work. It is developed based on Substrate (a blockchain software development toolkit developed by Polkadot developer team Parity Technologies), with a product focus on electronic cash and account security, and its native asset is QTC. The mainnet was launched on September 9, 2026.

According to the official website, Christopher Smith is the founder and CEO. He previously participated in BitMesh, Lunyr, and FactoryDAO, and is also the author of the Quantus white paper and host of the QDay podcast.

In terms of funding, the white paper marks December 2024 as the startup phase for obtaining financial support. Quantus's official GitHub repository lists two rounds of private placement, with the first round raising 1.65 million USD at a token valuation of 20 million USD; the second round raised 770,000 USD at a token valuation of 100 million USD, led by Balaji Srinivasan. According to a founder interview summary by Bankless on October 6, 2026, AngelList co-founder Babak Nivi and Helius CEO Mert are also investors.

What are Quantus's core mechanisms: how do authorization, privacy, and scalability connect?

Quantus supports both transparent transfers and privacy transfers. Transparent transfers are authorized by ML-DSA signatures, and the address, amount, and balance are visible on-chain. ML-DSA is also used for node identity authentication, with nodes establishing encrypted communication channels through ML-KEM. ML-DSA has been standardized by the National Institute of Standards and Technology (NIST) as FIPS 204, aiming to resist attacks from parties possessing large quantum computers.

Changing algorithms can also increase engineering burdens. Post-quantum signatures and public keys are typically larger; if each transaction carries this data directly, block space, transmission, and verification will endure more pressure.

Therefore, Quantus introduces Wormhole addresses and zero-knowledge proof aggregation solutions, attempting to reduce the on-chain data overhead per transaction. Privacy and scalability connect within this mechanism.

The Wormhole process can be understood as follows: users first transfer QTC to a special address that cannot be directly spent; afterward, the wallet generates a zero-knowledge proof, demonstrating that it knows the corresponding secret and that there is indeed a matching deposit record on-chain. The network verifies the amount constraint and anti-double-spending mark, then generates a corresponding amount of QTC at the designated receiving address, deducting applicable fees. According to Quantus's description, since the corresponding deposit is no longer directly spendable, this mechanism is designed not to increase the spendable supply arbitrarily.

Scalability occurs during the proof aggregation phase: wallets first aggregate their proofs, then miners or aggregation services merge multiple wallets' batches, finally validated by the Quantus main chain. The official estimates that the current two-layer aggregation capability is about 430 QTPS, meaning the number of quantum-secure transfers that can be accommodated per second.

The network is maintained by proof of work. Miners repeatedly attempt random numbers to search for a Poseidon2 hash result that meets difficulty requirements; the choice of this hash function primarily considers computational efficiency in conjunction with zero-knowledge proofs. The target block interval is 12 seconds, with block rewards decreasing smoothly. Additionally, transparent accounts can choose to delay transfers, allowing cancellation during the waiting period, providing time for discovering operational errors or anomalies.

What is the token economics like?

The supply cap of QTC is 21 million coins. According to white paper v0.4.1, using this cap as a base, 27% is allocated at genesis, of which investors, founders, and the team account for a total of 23%, while the company accounts for 4%. An additional 73% will be issued through mining.

The aforementioned 23%, and the portion of the company allocated that accounts for 3% of the supply cap, have been locked for one year since the launch of the mainnet, followed by a linear release over 36 months; the remaining portion accounting for 1% of the supply cap is liquid at genesis, intended for initial liquidity.

The mining output portion calculates the reward for each block in Quantus using the following formula: block_reward = (max_supply - current_supply) / 50,000,000, meaning the supply cap minus the current issuance divided by 50 million. Quantus states that this reward mechanism will be smoother and will not exhibit the same high volatility as Bitcoin.

Regarding fees, all transaction fees go to miners or are burned. The default for a transparent transfer (ML-DSA-65) incurs about 0.0062 QTC per simple transfer, while a higher security level ML-DSA-87 costs about 0.0081 QTC, both of which can have additional tips, with all fees going to miners; encrypted transfers are charged at 0.04% of the amount, with a minimum of 0.01 QTC (fixed at 0.01 QTC for 25 QTC and below), with half going to miners and half burned; cancellations by premium accounts result in 1% of the canceled amount being completely burned.

Transitioning from a new chain to usage: the transaction and custody entry

Once a chain is launched, users need convenient access to and management of its assets.

On October 6, NEAR officially announced that QTC has been integrated into NEAR Intents and supports native Quantus deposits and withdrawals. Quantus released its launch announcement on the same day.

In terms of institutional custody, on October 18, blockchain anti-quantum security company Project Eleven partnered with public chain Quantus to plan for integrating Quantus into its institutional-grade custody platform Strongpoint. Both sides will collaborate on technology integration, key management processes, and transaction support, enabling institutions to manage Quantus assets through Strongpoint's existing hardware, strategies, approvals, and audit controls. The target support time is first quarter of 2027.

How to evaluate Quantus?

The highlights of Quantus lie in integrating post-quantum authorization, privacy, and proof costs into the same blockchain design. Starting with a new chain, Quantus has minimized the burdens of migrating old accounts but must rebuild asset credit, liquidity, and network use. The first issue it addresses is its cryptographic design itself. The extent of industry demand it can accommodate needs to be proven through actual adoption.

Compared to the technical narrative, Quantus's token distribution may warrant more caution from investors.

A supply cap of 21 million coins and a PoW consensus mechanism readily evoke comparisons to Bitcoin. But there is a distinct difference in their issuance structures: Quantus allocated 27% of its total supply at genesis, of which 23% is accounted for by investors, founders, and the team. In other words, although Quantus emphasizes mining issuance, nearly a quarter of the token supply cap has already been pre-allocated to investors and the core team.

This difference will become more apparent over time. Under a simplified model with an average block time of 12 seconds, unchanged reward parameters, and not accounting for fees burned, by the fourth anniversary of the Quantus mainnet, approximately 2.91 million coins will have been newly issued through mining, whereas the pre-allocated shares for investors, founders, and the team will amount to 4.83 million coins, already unlocked by that point according to established arrangements. Even after four years of operation, the new mining issuance will remain lower than that of the pre-allocated tokens.

The one-year lock-up followed by 36 months of linear release indeed prevents the related shares from flooding the market immediately but does not alter the scale of their pre-allocation. Starting September 2027, the relevant shares will gradually unlock, and whether future market demand can absorb the newly circulating supply will pose another challenge.

The valuation contrast is equally noteworthy.

As of the time of writing, the Quantus browser indicates a total of 11,665 accounts in the network, of which 8,160 are categorized as deposit accounts. The current circulating supply of QTC is approximately 270,521 coins, calculating at around 180 USD, gives a circulating market value of about 48.7 million USD.

However, this 48.7 million USD circulating market value is merely the most visible side of Quantus's valuation story.

According to the token distribution table, incorporating the shares that were allocated but remain locked during the genesis phase, the nominal value of already issued tokens at the same price is estimated at about 1.03 billion USD; if calculated using the 21 million supply cap, the fully diluted valuation would reach around 3.78 billion USD.

This means that the currently truly circulating QTC only accounts for about 1.29% of the supply cap, while the market price is being used to gauge a token supply structure much larger than the circulating supply. The extremely low circulation proportion, high fully diluted valuation, and future unlocking arrangements coexist, serving as a admonition for investors: the market demand reflected in the current price has yet to be tested by a substantial supply entering circulation.

The market interest in Quantus cannot be entirely attributed to anti-quantum technology.

Bankless pointed out in an article on October 6 that some supporters of Quantus overlap with the groups that previously showed keen interest in Zcash. On October 8, during Token2049 in Singapore, Quantus, in collaboration with the NEAR Foundation, hosted the QDay event, with Zcash sponsoring it, and the agenda included Zcash founder Zooko Wilcox and NEAR co-founder Illia Polosukhin as invitees. Meanwhile, QTC has been integrated into NEAR Intents, gaining new channels for asset exchange and cross-chain transfer.

From investors and industry figures to ecological collaborations, Quantus is not a new chain that relies solely on technological breakthroughs for attention. It also benefits from existing networks, resources, and market focus in the privacy cryptocurrency space.

These connections can help Quantus gain exposure and improve asset accessibility, but whether this attention can truly convert into users, liquidity, and long-term demand remains a question that this new chain needs to answer.