MicroAlgo unveils new quantum image encryption tech

SHENZHEN, China - MicroAlgo Inc. (NASDAQ:MLGO), a technology firm specializing in encryption and algorithm development with a market capitalization of $55.18 million and annual revenue of $74.19 million, has introduced a quantum image encryption algorithm that promises to enhance the security of image data. According to InvestingPro analysis, the company appears undervalued, maintaining a healthy balance sheet with more cash than debt and a current ratio of 6.11. This new algorithm employs quantum key images, leveraging principles of quantum mechanics to secure image encryption and transmission.

The algorithm utilizes a quantum key image, created using a quantum storage method called Generalized Quantum Image Representation (GQIR), which holds the encryption keys. The grayscale values of this quantum key image represent a sequence of keys generated during the encryption process. These keys are produced by a quantum random number generator (QRNG), which ensures a high level of security due to the inherent randomness of quantum state measurements.

Before encryption, plaintext images are preprocessed to optimize the effectiveness of the encryption. The actual encryption involves a bitwise XOR operation with the quantum key image, resulting in an encrypted image with high randomness and security.

For the secure storage and transmission of encrypted images, MicroAlgo employs Quantum Key Distribution (QKD) technology. QKD utilizes quantum mechanics’ no-cloning principle to ensure the security of keys during transmission, which is crucial for maintaining the safety of the encrypted image.

MicroAlgo’s quantum image encryption algorithm is theoretically unbreakable, even against attackers with unlimited computational power, due to its reliance on quantum mechanics principles. Trading at a P/E ratio of just 1.63, the company suggests that its technology is suitable for high-security applications that require frequent key updates, such as financial transactions, government data protection, and the medical sector, as well as for securing communication between IoT devices. InvestingPro subscribers can access 14 additional investment tips and detailed financial metrics to better evaluate this emerging technology player.

The announcement indicates that as quantum computing and encryption technologies evolve, the security and efficiency of this algorithm are expected to improve, positioning MicroAlgo’s solution for potential widespread adoption in various industries. Despite recent stock volatility, with shares down nearly 50% in the past week, the company maintains profitability and strong fundamentals. For comprehensive analysis of MicroAlgo’s growth potential and financial health, visit InvestingPro.

This news is based on a press release statement from MicroAlgo Inc. and does not include any subjective assessment or promotional content.

In other recent news, MicroAlgo Inc. announced plans to issue new shares at a price of $0.8 each to repay a $20 million debt under a convertible bond purchase agreement. This decision follows a conversion request from creditors, allowing bonds to convert into common shares at a specified price. In a strategic move, WiMi Hologram Cloud Inc. increased its ownership in MicroAlgo to 67.65% and declared a ten-year lock-up period for its shares, indicating a long-term commitment. MicroAlgo also unveiled a quantum edge detection algorithm, which enhances real-time image processing using quantum computing principles. This innovation is expected to improve applications in fields like medical imaging and autonomous driving. Additionally, MicroAlgo introduced the Classical Boosted Quantum Optimization Algorithm, combining classical and quantum computing to address optimization challenges in industries such as finance and logistics. These developments reflect MicroAlgo’s ongoing efforts to integrate quantum and classical computing for enhanced computational efficiency.

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