In todays evolving world of technology, old blockchains are ill-equipped to deal with quantum threats, including cryptos with large market capitalizations. And how could it be? At the time when Bitcoin was created, devs were so enthralled with the robustness created by a near fail-safe network of systems that an emerging quantum threat didn’t come to their mind.
Relying on elliptic curve cryptography, specifically the secp256k1 curve, to generate private and public keys, it shows off its security by making it clear that brute-forcing its protection would require more time than the universe has existed.
Quantum algorithms, however, have changed this belief. With the likes of Shor’s algorithm capable of breaking this exponentially faster than classical methods, private keys aren’t safe anymore. The problem is that this isn’t a future concern anymore, as the public availability of blockchain addresses makes several cryptos’ networks vulnerable if quantum computing catches up.
What the world now needs is something beyond the standard paradigm — a system that can stand strong against post-quantum threats. What it needs is post-quantum cryptography. But since integrating such techniques is impossible in the existing and rigid networks, Bitcoin.ℏ, being built on Hedera Hashgraph, emerges as a forward-thinking alternative. It is sleek, it is fast, and most importantly, it is quantum-resistant.
A Dive Into Post Quantum Threat and Cryptography
What is Post Quantum Cryptography? Post Quantum Cryptography, or PQC, is simply an umbrella term for algorithms that can keep a system secure against quantum computers.
It means, instead of relying on traditional factorization or discrete algorithms—both of which quantum computers can break through in a jiffy—PQC implements hard mathematical problems.
These problems can potentially make systems secure from both classical and quantum attacks, and could include anything from lattice-based cryptography to hash-based signatures, code-based systems, and even multivariate equations.
With Microsoft deploying the first state of matter in its quantum computing chip, Majorana 1, global governments and tech bodies have started to work together to make PQC more standardized, with the US National Institute of Standards and Technology leading the initiative.
Four algorithms: CRYSTALS-Kyber, CRYSTALS-Dilithium, FALCON, and SPHINCS+, have already been selected for testing.That said, it will take more than just software upgrades to implement PQC at a larger scale, which is part of the reason many blockchain devs are still relaxed about the threats it poses. Wallets and nodes would have to be updated with hardware while maintaining compatibility with existing systems.
It is a tall order, but considering how global technologies have accelerated in development over the past decade, projects like Hadera Hashgraph and Bitcoin.ℏ have rightly predicted the threats beforehand.
This blockchain equivalent has started to experiment with quantum-resistant primitives from the base level and has implemented a security model that makes it quantum-threat ready.#NODEBinanceTGE $XRP #SaylorBTCPurchase #ScalpingStrategy #BinanceTGEXNY $ETH $SOL #BTC110KToday?