Quantum-resistant blockchain platform QAN has released a short ebook (“Quantum Computing and Blockchain: The Definitive Guide“) highlighting the threat posed by quantum computing. The document gauges the security of current blockchains plus the likelihood of a quantum computing breakthrough breaking their cryptography.
Johann Polecsak, CTO of QAN and co-author of the ebook, said: “Many IT professionals and CTOs are neglecting and even denying quantum computing threats with the flawed reasoning that it must surely be a long time ahead, when the reality is that this threshold is likely to be reached in the next five years.”
The 39-page ebook provides an assessment of the current capabilities of quantum computing. It addresses:
- what quantum hardness means
- why quantum safety is needed
- the best post-quantum algorithms to protect crypto networks.
In Quantum Computing and Blockchain: The Definitive Guide the authors seek to:
- explain why it is not too late to address the threat posed by quantum computing
- why action needs to be taken now before a major breakthrough is made
- how to create a quantum-proof future.
Quantum computing and blockchain
Many misunderstand quantum computing, either because of its inherent complexity or because of the the media’s tendency to misstate the implications of quantum breakthroughs. Tech literate US presidential candidate Andrew Yang, however, has shown knowledge of the matter, explaining: “Quantum computers, using qubits, will theoretically be able to perform the calculations necessary to break our current encryptions standards in under a day. When that happens, all of our encrypted data will be vulnerable. That means our businesses, communications channels, and banking and national security systems may be accessible.”
In the ebook the authors offer an analysis of the threat. They frame this within a blockchain context, as of now, and they accompany a factual description of the current state of quantum computing with practical steps to mitigate the risk posed by a quantum breakthrough.
Enterprise Times: what does this mean
The ebook’s subject is timely. There is increasing concern about blockchain – and most other common, current security mechanisms – when (if) quantum becomes real.
The ebook’s authors hope the guide will:
- broaden awareness
- establish some form of standard by which IT understands and assesses quantum threats to cryptography.
Qan’s aspiration is big. It will depend on how much attention the blockchain/quantum computing combination attracts from IT. (The ebook is available for download here.)