Without quantum security, our blockchain future is uncertain
Could the decentralized world built on blockchain technology win the battle with a large-scale quantum computer of the nightmares? News that two teams of Chinese scientists have achieved quantum advantage — a technical term for when a computer can perform functions beyond that of a classical computer — may be the signal that we have truly entered a new era. While Google’s 54-qubit quantum processor, Sycamore, became the first widely known example of early-stage quantum computing, the latest news out of the University of Science and Technology of China in Hefei is the best proof yet that we....
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How blockchain technology can thrive in an age of quantum computing.
According to the U.S. Cybersecurity and Infrastructure Security Agency (CISA), while quantum computers are incapable of breaking public key encryption algorithms, public and private entities need to prepare for future threats against cryptography that is not quantum resistant. Most of today’s digital communications, including cryptocurrencies, leverage public key encryption and CISA believes when “quantum computers reach higher levels of computing power and speed, they will be capable of breaking the public key cryptography algorithms that are in use today.”
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It is ‘deja vu’ all over again as Google prepares for a future that seems inevitable. Like the millennium bug of the late 90s, Practical Quantum Computing looks like the next big turn in this era of internet security and encryption. Preparing for Advanced Quantum attacks. The prevailing concern is that in the near future, personal information may not be so secure as hackers could employ higher level computing procedures, otherwise known as Advanced Quantum attacks to crack current encryption techniques. Considering the potential weakness of encryption which could make it vulnerable in the....
Bitcoin’s quantum-security discussion just gained a concrete new artifact in the code-and-spec pipeline: an updated draft of BIP-360 has been merged into the official Bitcoin Improvement Proposals repository, proposing a Taproot-adjacent output type designed to limit exposure to future quantum key-recovery attacks. The change matters less because it “solves” quantum risk today, and more because […]
IBM has announced the launch of its quantum computing service called IBM Q along with a developer API. Quantum computers are considered to the future of computing. IBM is one of the of companies that is currently involved in the development of quantum computers. The tech giant has made news by announcing its plans to build the first commercial quantum computing system. With the recent announcement, IBM has made a name for itself as the provider of some of the disruptive technological solutions. The quantum computing systems and services follow the company’s suite of products in the AI (IBM....