Before this question is answered, let’s talk about Post Quantum Cryptography.
Post-quantum Cryptography refers to cryptographic algorithms (usually public-key algorithms) that are thought to be secure against an attack by a quantum computer.
A hashing competition was announced by the US National Institute of Standards and Technology (NIST) to develop a new hash function called SHA-3 to complement the older SHA-1 and SHA-2.
Currently, public-key cryptographic algorithms are specified in FIPS 186-4, DigitalSignature Standard, as well as special publications SP 800-56A Revision 2, Recommendation for Pair-Wise Key Establishment Schemes Using Discrete Logarithm Cryptography and SP 800-56B Revision 1, Recommendation for Pair-Wise Key-Establishment Schemes Using Integer Factorization Cryptography.
However, these algorithms are vulnerable to attacks from large-scale quantum computers.
NIST has initiated a process to solicit, evaluate, and standardize one or more quantum-resistant public-key cryptographic algorithms.
Interestingly, Round 3 is scheduled for the end of 2020 or early 2021.
We see from references that even the US Government has not felt the need to apply or upgrade its current encryption standards to post-quantum encryption for protecting its own top-secret information.
We are almost a decade away from real-world and wide-scale quantum applications. And we believe Hedera will cope up to upgrade itself against quantum attacks for signatures and key agreements.
One of the first changes that DLT is bringing or promises to bring, is moving the data/information out of the central servers and put multiple copies in multiple systems/nodes.
This means we are basically trusting the encryption mechanism to safeguard our data.
Now let’s imagine, that one of this node or block, is able to be decrypted. So what is left is an open book, to be read by anyone. This is what exactly quantum computing is capable of.
Quantum computing will be capable of solving those computational challenges that are not possible for classical computers to solve. Simply put up, a powerful quantum computer will theoretically decrypt user private keys and forge transaction signatures, and hence breaking the trust that blockchain promises.
Although it’s very early to predict if blockchain is going to be obsolete because of this threat. One way, I understand to make “quantum-safe blockchain” is to introduce new methods of encryption.
How this is going to shape in the future, we will see, but if the blockchain community does not work/research enough to make quantum computing and blockchain coexist, then ………
What is your opinion ??
Source: LinkedIn post by Mohammed Naquib