The future of blockchain without quantum security is uncertain

It is reported that two teams of Chinese scientists have achieved quantum advantages-referring to a computer that can perform functions other than traditional computers-which may indicate that we have truly entered a new era. Although Google’s 54-bit qubit quantum processor Sycamore has become the first widely known example of early quantum computing, the latest news from the University of Science and Technology of China is the best proof that we have crossed the information watershed.

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Although there are many reasons to be excited about these developments, there are also reasons to be concerned. Although we may all be eagerly waiting for the day when we can predict traffic jams, write animal tests in the annals of history, or determine the likelihood that someone has cancer, and then devise a unique treatment method ⁠—all of this Completed in seconds-but its immense power also has its dark side.

For a society that is so dependent on the Internet, the most frightening thing is that quantum computing puts all our digital infrastructure in danger. Our contemporary Internet is based on cryptography-the use of codes and keys to ensure the security of private communications and data storage. But for cryptocurrencies such as Bitcoin and Ethereum , this concept is the most basic. A sufficiently powerful quantum computer may mean that billions of dollars in value are stolen, or the entire blockchain is destroyed. As digital signatures suddenly become easy to forge, the concept of wallet “ownership” will become obsolete.

When I first created digital currency in the late 1980s, quantum computers were just a theoretical proposition. Although we all know that its arrival is inevitable (those who work in technology are often keenly aware that the future is coming to us at an alarming speed), but in a world where we have not even seen the first web browser Here, we did not spend too much time thinking about this technology that seemed to be a far-reaching future at the time.

Facing the fragility of quantum computing

However, times have changed. In the next 30 years, cryptocurrencies will be perfected, storing nearly $3 trillion in value. An analysis by Deloitte found that more than 25% of bitcoins could be stolen in an attack, and at the time of writing this number is close to $300 billion. When you think about it, by 2025, cryptocurrencies are expected to account for 10% of the world’s GDP, and this vulnerability will quickly change from worrying to frightening. Quantum computing is coming, and we have never been as vulnerable as we are now.

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In addition, history tells us that we should be afraid of not only hackers, cyber terrorists and criminal organizations, but also governments. In the past ten years, the revelations of Chelsea Manning and Edward Snowden have shown the world that the world’s most powerful government can (will) without anyone’s attention. Do something.

Although we already know some early examples of quantum computing, it is foolish to bet that a national-level participant obtains a highly developed quantum system before a private organization. When they do get the technology, they don’t just come for your Bitcoin. They will read your information and every email, instant message or file you have sent using the old encryption technology; now they can get it with the new quantum master key.

Is there a solution?

The problem we face in the future is how to make ourselves safe from its destructive potential. My team at xx network and I have been developing our quantum secure blockchain for the past few years as a way to solve this problem. Using our flagship metadata sharding DApp to add another layer of privacy protection will be another way to guard against malicious participants in quantum armed forces. Different innovators will come up with other solutions, but they are not coming soon enough.

We have reason to believe that the coming quantum computing revolution will not destroy our opportunities for a new decentralized world based on blockchain. The National Institute of Standards and Technology of the United States is already considering 69 potential new methods of “post-quantum cryptography”, and is expected to formulate a draft standard before 2024, and then promote it on the Internet.

In the post-quantum world, almost no encryption technology is completely redundant. Key agreements and digital signatures are the most vulnerable to attacks, and innovations such as lattice-based cryptography provide us with ready-made solutions that can be implemented in the next generation of blockchain technology, and there are more powerful The technology is well known.

Although the kind of large-scale quantum computer I described in your nightmare has not yet appeared, the arrogance and the optimism of the unlimited freedom of our community (usually an asset) may put us at risk when it finally arrives. In the past few years, we have not only seen the significant adoption of cryptocurrencies, but also the view that decentralization can solve many problems in today’s society. We are winning this battle. It would be a great shame if we lose this war because we have not taken this collective threat to our security and privacy seriously.

If we do this, we can ensure the basic promise of blockchain technology and revitalize its appeal. This sounds exciting.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/the-future-of-blockchain-without-quantum-security-is-uncertain/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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