A Revolutionary New Hash Function:
Nano Cancer Drugs Algorithm NaCa and
its Cryptocurrency

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Imminent crisis: cryptocurrencies mining/forging consume more and more electricity every year


Bitcoin’s estimated annual electricity consumption (TW.h/year) increases quickly with time.
Blue dots: data from Digiconomist.
Straight black line: the exponential fitting curve.
A log10 base y-axis is displayed.

If Bitcoin were a country, it would replace the position of France and rank at 10 on April 23, 2022

More importantly, the outputs of most if not all cryptocurrencies are just digital wastes.

Crisis in 15 years: most cryptocurrencies will be broken...





Quantum computers will break through most, if not all, current cryptocurrencies in about year 2034. Quantum Shor’s algorithm completely breaks through many widely used encryption algorithms. Grover’s algorithm partially breaks through all the hash functions, so that a quantum computer with Grover’s algorithm does mining 2 billion times faster than a classical computer and dominate most if not all current cryptocurrencies.

Practical quantum computers will be available in around year 2034



The maximal count of physical qubit increases with time.
Black straight line: fitted exponential model.
Red dashed line: qubit = 1.1e7. CAS: Chinese Academy of Science; KyotoU: Kyoto University. Y axis is log10 based.

Our motivation of inventing the NaCacoin



Upper panel: The mechanism of new nano cancer drug A; middle panel: The pain points in development of drug A and the solution provided by NaCacoin; lower panel: Average time span and cost of each stage in drug development in pharmaceutical industry.

Our solution: NaCacoin

White paper abstract


A Revolutionary New Hash Function: Nano Cancer Drugs Algorithm (NaCa) and its Cryptocurrency NaCacoin

X. Young*, G. Sylvain*, S.Y. Shu*, D.Y. Bao*
June 22, 2020
*: NaCacoin Team, Switzerland.
email: info at the domain nacacoin.org

Abstract

Big crises of blockchains and cryptocurrencies

Blockchains and blockchain-based cryptocurrencies have become a compelling revolution. There have been at least 5,500 different cryptocurrencies created by the end of May 2020 since Satoshi Nakamoto created the first cryptocurreny, Bitcoin, in year 2008. The overall market cap of all the cryptocurrencies is more than US$256,873,793,585. Although people hooray for the elegant and concrete structures of blockchains and cryptocurrencies which are guaranteed by the strong cryptography with solid mathematical background, two major crises are approaching:

  • Imminent crisis: cryptocurrencies mining consume more and more electricity every year but their outputs are just digital wastes. For example, if Bitcoin were a country, it would replace the position of France and rank at 10 in the electricity consumption list on April 23, 2022.

  • Long term crisis: quantum computers will break through most, if not all, current cryptocurrencies in about year 2034. Shor’s quantum algorithm will completely break through many widely used encryption algorithms such as RSA, ECDSA, and ECDH in post quantum era (around year 2034). Grover’s quantum algorithm will partially break through all the hash functions used in cryptocurrencies.

After checking many cryptocurrencies including Primecoin, Curecoin, and Gridcoin, we found that these two major crises have not been solved. The root cause of these two crises are the hash functions used by different cryptocurrencies. If these two crises continue, blockchains and cryptocurrencies will be devastated completely with zero value in the near future.

The solution to the crises

A revolutionary new hash function, Database of Nano new Cancer drugs (NaCa for short), which solves the two major crises aforementioned, was developed. NaCa has the following advantages:

  • NaCa, unlike all other hash functions used in cryptocurrencies, outputs binary strings which codes structures of nano new cancer drugs rather than digital waste.
  • NaCa's complete and dynamical quantum resistance guarantees the security of cryptocurrencies in the post-quantum era.

The product

A revolutionary cryptocurrency, NaCacoin which is based on our new hash function NaCa, was developed, with the following attracting characteristics:

  • NaCacoin is the only cryptocurrency which completely solve the electricity wasting problem.

  • Complete and dynamic quantum resistance.

  • Our new hash NaCa can replace the block hash functions of all current 5500 cryptocurrencies so that they will become NaCa based cryptocurrencies. E.g., Bitcoin, ETH and EOS will become NaCaBitcoin, NaCaETH and NaCaEOS respectively.

  • Much faster transaction with lower price compared with other cryptocurrencies.

  • Being more decentralized than Bitcoin, Litecoin, ETH, EOS, Bitshare etc.

A new business model: Double rewards for miners

Major pharmaceutical/biotech companies and hospitals will be licensed to use the above mentioned nano new cancer drugs database on an annual basis. Licensing fee (USDT) will be refunded to NaCacoin miners for their contribution to the establishment of this database, so NaCacoin miners will get double rewards: NaCacoin and USDT. The double rewards will encourage more miners to mine NaCacoin. This feature will keep motivating miners to mine NaCacoin even when the block reward decreases to a very small amount after many years. By contrast, many cryptocurrencies such as Bit- coin and Litecoin may disappear when the block reward and the transaction fees cannot cover the mining electricity.

Conclusions

We concluded that NaCacoin is a new revolution in the field of cryptocurrencies.

Key words

blockchain; cryptocurrency; cryptographic hash function; encryption algorithm; quantum resistance; database of nano new cancer drugs; NaCacoin.

Contact

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info at the domain nacacoin.org

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