What are Quantum-Resistant Blockchains?

In the next 10 years, we will see a quantum machine that will run Shor`s algorithm and crack current public-key cryptography. A lot of new vulnerabilities will arise. And quantum-resistant blockchain should come to the rescue.

Quantum-resistant blockchains refer to cryptographic algorithms that are resistant to attacks using quantum computers. Current public-key algorithms depend on the complexity of solving the discrete log and factorization problem of large prime numbers. In other words, current blockchains will not cope with the full security of mass implementation of quantum computing shortly or, in some cases, even today.

In 1994, the American mathematician Peter Shore invented a quantum algorithm that solves the problem of integer factorization. But it requires a fairly powerful quantum computer.

What is the difference between quantum-safe blockchains and modern public-key cryptography?

The main difference is that there will no longer be a universal algorithm like RSA or ECC because different algorithms provide different benefits. Simply put, switching to new algorithms will provide disproportionately higher security.

As a result of NIST's post-quantum cryptography (PQC) standardization process, NIST standards will be available by 2024. A standard of algorithms for digital signatures is likely to emerge to replace the signatures specified in FIPS 186-4 (e.g., RSA, DSA, and ECDSA). Along with this come algorithm for several key encapsulation mechanisms (KEMs).

Conclusion

New protocols will change the fundamentals of communication on the Internet, from how your computer will confirm that you've accessed the right website and not a hacker's server to how companies will encrypt your credit card number when you shop online.

But this revolution will be quiet. All these processes will remain behind the scenes; the average user won't even notice them. Just like the best security products - they work when no one notices the changes.