Why Quantum Resistance Is the Next Blockchain Frontier – Tech Times
(Photo : Why Quantum Resistance Is the Next Blockchain Frontier)
As decentralized networks secured by potentially thousands of miners and/or nodes, blockchains are widely considered to be an incredibly secure example of distributed ledger technology.
On the back of this, they also have dozens of potential applications - ranging from decentralized content storage networks, to medical records databases, and supply chain management. But to this day, they're most commonly thought of as the ideal platform hosting the financial infrastructure of tomorrow - such as decentralized exchanges and payment settlement networks.
But there's a problem. While the blockchains of today are practically unhackable - due to the type of encryption they use to secure private keys and transactions - this might not be the case for much longer. This is due to the advent of so-called "quantum computers", that is, computers that can leverage the properties of quantum mechanics to solve problems that would be impossible with traditional computers... such as breaking the cryptography that secures current generation blockchains.
Many blockchains of today use at least two types of cryptographic algorithms - asymmetric key algorithms and hash functions.
The first kind, also known as public-key cryptography, is used to produce pairs of private and public keys that are provably cryptographically linked. In Bitcoin, this private key is used to spend UTXOs - thereby transferring value from one person to another. The second kind - the hash function - is used to securely process raw transaction data into a block in a way that is practically irreversible.
As you might imagine, a sufficiently powerful quantum computer capable of breaking either of these security mechanisms could have devastating consequences for susceptible blockchains - since they could be used to potentially derive private keys or even mine cryptocurrency units much faster than the expected rate (leading to supply inflation).
So, just how far away from this are we? Well, according to recent estimates, a quantum computer possessing 4,000 qubits of processing power could be the minimum necessary to break the public key cryptography that secures Bitcoin user funds. A sufficiently flexible quantum computer with this processing power could, theoretically, take over the funds contained in any Bitcoin p2pk address - that's a total of around 2 million BTC (circa $67 billion at today's rates).
Fortunately, this isn't an immediate concern. As it stands, the world's most powerful quantum computer - the Zuchongzhi quantum computer- currently clocks in at an impressive (albeit insufficient) 66 qubits. However, given the rapid pace of development in the quantum computing sector, some experts predict that Bitcoin's Elliptic Curve Digital Signature Algorithm (ECDSA) could meet its quantum match within a decade.
(Photo : The Next Platform)
The algorithm that could be potentially used to break ECDSA has already been developed. If generalized and applied by a powerful enough quantum computer, it is widely thought that Peter Shor's polynomial time quantum algorithm would be able to attack the Bitcoin blockchain - while similar algorithms could be applied to other forms of traditional encryption.
But this might not be a concern for much longer, thanks to the introduction of what many consider to be the world's first truly quantum-resistant blockchain. The platform, known as QANplatform, is built to resist all known quantum attacks by using lattice cryptography. QAN manages to achieve quantum resistance while simultaneously tackling the energy concerns that come with some other blockchains through its highly efficient consensus mechanism known as Proof-of-Randomness (PoR).
Unlike some other so-called quantum-resistant blockchains, QAN is unusual in that it also supports decentralized applications (DApps) - allowing developers to launch quantum-resistant DApps within minutes using its free developer tools.
Besides platforms like QAN, the development communities behind several popular blockchains are already beginning to consider implementing their own quantum-resistance solutions, such as the recently elaboratedcommit-delay-reveal scheme - which could be used to transition Bitcoin to a quantum-resistant state. Nonetheless, the future of post-quantum cryptography still remains up in the air, as none of the top ten blockchains by user count have yet committed to a specific quantum-resistant signature scheme.
2021 TECHTIMES.com All rights reserved. Do not reproduce without permission.
Tags:
Read this article:
Why Quantum Resistance Is the Next Blockchain Frontier - Tech Times
- Buy the Dip on This Quantum Computing Stock - Yahoo Finance - July 24th, 2025 [July 24th, 2025]
- UChicago partners with IBM to strengthen quantum computing startups in Illinois - University of Chicago News - July 24th, 2025 [July 24th, 2025]
- Gold clusters mimic atomic spin properties for scalable quantum computing applications - Phys.org - July 24th, 2025 [July 24th, 2025]
- Global Quantum Computing Market Report 2026-2046, with Profiles of 217 Companies Shaping the Quantum Computing Ecosystem, Including Market Leaders,... - July 24th, 2025 [July 24th, 2025]
- Quantum Computing Inc. (QUBT): A Bear Case Theory - Yahoo Finance - July 24th, 2025 [July 24th, 2025]
- Universal Quantum Joins Open Quantum Institute to Advance Endometriosis Drug Discovery with Quantum Computing - The Quantum Insider - July 24th, 2025 [July 24th, 2025]
- Unpacking the Latest Options Trading Trends in Quantum Computing - Nasdaq - July 24th, 2025 [July 24th, 2025]
- Quantum Computing: Stay Far From The Quantum Realm, Strong Sell (NASDAQ:QUBT) - Seeking Alpha - July 24th, 2025 [July 24th, 2025]
- 2025: An eventful year for quantum computing - The New Indian Express - July 24th, 2025 [July 24th, 2025]
- Riverlane and OQC Move Toward Fault-Tolerant Quantum Computing with QEC Integration - HPCwire - July 24th, 2025 [July 24th, 2025]
- Billionaires Are Buying This Quantum Computing Stock Hand Over Fist (Hint: It's Not IonQ or D-Wave Quantum) - Yahoo Finance - July 24th, 2025 [July 24th, 2025]
- Unlocking the Future: How Advanced Ceramics Are Powering Quantum Computing and Semiconductor Innovation - openPR.com - July 24th, 2025 [July 24th, 2025]
- Global Quantum Computing Market Report 2025: Revenue, Trends, and Key Players - Yahoo Finance - July 22nd, 2025 [July 22nd, 2025]
- Billionaires Are Buying This Quantum Computing Stock Hand Over Fist (Hint: It's Not IonQ or D-Wave Quantum) - Mitrade - July 22nd, 2025 [July 22nd, 2025]
- 3 Quantum Computing Stocks with Potential to Beat the Market 7/21/2025 - TipRanks - July 22nd, 2025 [July 22nd, 2025]
- 2 Top Quantum Computing Stocks to Buy in July - Yahoo Finance - July 20th, 2025 [July 20th, 2025]
- Want to Invest in Quantum Computing Without the Crazy Risk? Buy These 3 Stocks. - The Motley Fool - July 20th, 2025 [July 20th, 2025]
- Is quantum computing the next big thing in stocks? - Yahoo Finance - July 20th, 2025 [July 20th, 2025]
- Are We in a Quantum Computing Bubble? - The Motley Fool - July 20th, 2025 [July 20th, 2025]
- Is Quantum Computing Stock a Buy for Less Than $20? - The Motley Fool - July 20th, 2025 [July 20th, 2025]
- After Plummeting by 18%, Could This Quantum Computing Stock Stage a Second-Half Comeback? - AOL.com - July 20th, 2025 [July 20th, 2025]
- New Platform Leverages AI and Quantum Computing to Predict Salmonella Antimicrobial Resistance | Newswise - Newswise - July 18th, 2025 [July 18th, 2025]
- Quantum Computing Seen As Top Cybersecurity Threat by 65% of Firms - IoT World Today - July 18th, 2025 [July 18th, 2025]
- SuperQ Quantum Computing Partners with Web Summit to Expand Global Reach - TipRanks - July 18th, 2025 [July 18th, 2025]
- They Put Light and Quantum Into One Chip!: Scientists Unveil Silicon Breakthrough That Could Reshape the Future of Computing Forever - Rude Baguette - July 16th, 2025 [July 16th, 2025]
- What is quantum computing? Heres everything you need to know right now - Fast Company - July 16th, 2025 [July 16th, 2025]
- Warren Buffett Is Invested in These Three Magnificent Quantum Computing Stocks. Here's the Best of the Bunch. - The Motley Fool - July 16th, 2025 [July 16th, 2025]
- Quantum Computing Breakthrough: Rigetti Doubles Performance with Industry-First 36-Qubit Multi-Chip System - Stock Titan - July 16th, 2025 [July 16th, 2025]
- Why Is Sumitomo Corporation Taking on Quantum Computing? Pioneering Real-World Applications at the Forefront of Social Implementation -... - July 16th, 2025 [July 16th, 2025]
- Oxford Ionics and Iceberg Quantum Partner to Accelerate Fault-Tolerant Quantum Computing - HPCwire - July 16th, 2025 [July 16th, 2025]
- Analysts See over 30% Upside in These 3 Quantum Computing Stocks 7/14/2025 - TipRanks - July 16th, 2025 [July 16th, 2025]
- How Mass. is becoming a hub for the quantum computing industry - WBUR - July 16th, 2025 [July 16th, 2025]
- Ohio awards millions to Miami University for 'quantum computing workforce' - spectrumlocalnews.com - July 16th, 2025 [July 16th, 2025]
- Could IonQ Be the Nvidia of Quantum Computing? - 24/7 Wall St. - July 16th, 2025 [July 16th, 2025]
- Quantum (QUBT) Computing Rallies 8.7% Ahead of Q2 Earnings - Yahoo Finance - July 16th, 2025 [July 16th, 2025]
- Wanted: enabling technologies in quantum computing for artificial intelligence (AI) and cyber security - Military Aerospace - July 16th, 2025 [July 16th, 2025]
- What's Going On With Quantum Computing Stock Today? - Quantum Computing (NASDAQ:QUBT) - Benzinga - July 16th, 2025 [July 16th, 2025]
- ZenaTech creates quantum computing prototype to advance AI drone solutions - Evertiq - July 16th, 2025 [July 16th, 2025]
- AmpliTechs Cryogenic LNAs Power the Future of Quantum Computing and AI - Yahoo Finance - July 16th, 2025 [July 16th, 2025]
- Quantum Computing Inc. Stocks: Time to Buy or Wait? - StocksToTrade - July 16th, 2025 [July 16th, 2025]
- Think Quantum Computing Will Be the Next Big Thing? These Are the 2 Stocks to Buy Today - 24/7 Wall St. - July 14th, 2025 [July 14th, 2025]
- Rigetti Computing (RGTI): At the Quantum Inflection Point A Leveraged Play on Institutional Adoption - AInvest - July 14th, 2025 [July 14th, 2025]
- NTT Research and Tohoku University Collaborate on Quantum Enhanced Coherent Ising Machines - Quantum Computing Report - July 14th, 2025 [July 14th, 2025]
- Better Quantum Computing Stock: D-Wave Quantum vs. IonQ - MSN - July 14th, 2025 [July 14th, 2025]
- Better Quantum Computing Stock: D-Wave Quantum vs. IonQ - The Motley Fool - July 12th, 2025 [July 12th, 2025]
- ZenaTech Creates First Quantum Computing Prototype Enabling Disruptive AI Drone Speed and Precision for Future Commercial and US Defense Applications... - July 12th, 2025 [July 12th, 2025]
- Nearly two-thirds of organizations consider quantum computing as the most critical cybersecurity threat in 35 years - Capgemini - July 12th, 2025 [July 12th, 2025]
- Why Quantum Computing Stock Skyrocketed 69.3% in June -- and What Comes Next? - Nasdaq - July 12th, 2025 [July 12th, 2025]
- Quantum Computing - Why BTC isn't the biggest worry for COINBASE:BTCUSD by Profit_Through_Patience - TradingView - July 10th, 2025 [July 10th, 2025]
- 3 Artificial Intelligence (AI) Stocks Could Lead the Quantum Computing Revolution - The Motley Fool - July 10th, 2025 [July 10th, 2025]
- D-Wave, Yonsei, Incheon team up to boost quantum computing - Evertiq - July 10th, 2025 [July 10th, 2025]
- Is Rigetti Computing the Top Quantum Computing Stock for the Second Half of 2025? - The Motley Fool - July 10th, 2025 [July 10th, 2025]
- Why Quantum Computing Stock Skyrocketed 69.3% in June -- and What Comes Next? - The Motley Fool - July 10th, 2025 [July 10th, 2025]
- SuperQ Quantum Computing Inc. to Begin Trading on CSE as QBTQ - TipRanks - July 10th, 2025 [July 10th, 2025]
- Why Quantum Computing Stock Skyrocketed 69.3% in June -- and What Comes Next? - AOL.com - July 10th, 2025 [July 10th, 2025]
- This Quantum Computing Stock Just Raised $1 Billion And Analyst Says Its Only Getting Started - IonQ (NYSE:IONQ) - Benzinga - July 10th, 2025 [July 10th, 2025]
- Nearly two-thirds of organizations consider quantum computing as the most critical cybersecurity threat in 3-5 years - The Manila Times - July 10th, 2025 [July 10th, 2025]
- Quantum Computing (NASDAQ:QUBT) Shares Down 2.2% - Here's What Happened - MarketBeat - July 10th, 2025 [July 10th, 2025]
- Billionaires Are Buying This Quantum Computing Stock Hand Over Fist (Hint: It's Not IonQ or D-Wave Quantum) - The Motley Fool - July 8th, 2025 [July 8th, 2025]
- Individual defects in superconducting quantum circuits imaged for the first time - Scientific Computing World - July 8th, 2025 [July 8th, 2025]
- Horses for Courses: Where Quantum Computing Is, and Isnt, the Answer - RealClearDefense - July 8th, 2025 [July 8th, 2025]
- Satoshi-Era Bitcoin (BTC) Whale's $8B Move Explained Amid Looming Quantum Computing Threat to Crypto - Blockchain News - July 8th, 2025 [July 8th, 2025]
- Quantum Computing's 'Q-Day' Threat: Is Your Bitcoin (BTC) and Ethereum (ETH) Portfolio Facing Annihilation? - Blockchain News - July 8th, 2025 [July 8th, 2025]
- BlackRock's Bitcoin ETF Filing Warns of Quantum Computing Threat: Could Q-Day Make BTC and ETH Worthless? - Blockchain News - July 8th, 2025 [July 8th, 2025]
- Quantum Computing's "Q-Day" Poses Existential Risk to Bitcoin (BTC) and Ethereum (ETH), Expert Warns - Blockchain News - July 8th, 2025 [July 8th, 2025]
- Quantum Computing Threat: 25% of Bitcoin (BTC) at Risk as Polyhedra (ZKJ) Crashes 80% After Liquidity Attack - Blockchain News - July 8th, 2025 [July 8th, 2025]
- Scientists Just Simulated the Impossible in Quantum Computing - SciTechDaily - July 8th, 2025 [July 8th, 2025]
- 3 Quantum Computing Stocks with Potential to Beat the Market 7/7/2025 - TipRanks - July 8th, 2025 [July 8th, 2025]
- JPMorgan's quantum computing team lost its leaders & there is a mystery - eFinancialCareers - July 8th, 2025 [July 8th, 2025]
- Cracking the quantum code: Light and glass are set to transform computing - Phys.org - July 8th, 2025 [July 8th, 2025]
- IBM Backs $26M Funding for Quantum Computing Error Correction Startup - IoT World Today - July 8th, 2025 [July 8th, 2025]
- Horses for courses: where quantum computing is, and isnt, the answer - The Strategist | ASPI's analysis and commentary site - July 8th, 2025 [July 8th, 2025]
- D-Wave and Rigetti: Cantor Chooses the Best Quantum Computing Stocks to Buy - Yahoo Finance - July 6th, 2025 [July 6th, 2025]
- Quantum Computing's Surge: Navigating Tariffs and Tech Tailwinds for Profitable Growth - AInvest - July 6th, 2025 [July 6th, 2025]
- 2 Top Quantum Computing Stocks to Buy in July - The Motley Fool - July 6th, 2025 [July 6th, 2025]
- D-Wave and Rigetti: Cantor Chooses the Best Quantum Computing Stocks to Buy - TipRanks - July 4th, 2025 [July 4th, 2025]
- QEDMA Raises $26 Million With Participation From IBM to Tackle Quantum Computing Errors - The Quantum Insider - July 4th, 2025 [July 4th, 2025]
- Quantum Computing Stocks QBTS and IONQ Rally as Cantor Assigns Buy Rating - TipRanks - July 4th, 2025 [July 4th, 2025]
- Meet the Monster Quantum Computing Stock That Continues to Crush IonQ, Rigetti Computing, and Nvidia - The Motley Fool - July 4th, 2025 [July 4th, 2025]
- Meet the Monster Quantum Computing Stock That Continues to Crush IonQ, Rigetti Computing, and Nvidia - Nasdaq - July 4th, 2025 [July 4th, 2025]