Home Blockchain Protecting the Blockchain from Quantum-Enabled Hackers: The Time is Now

Protecting the Blockchain from Quantum-Enabled Hackers: The Time is Now

by Joseph Mack

**Quantum Computing Threatens Blockchain Security**

The blockchain, a revolutionary tool in the world of digital security, may be facing a critical threat from the rise of quantum computing. As quantum technology advances rapidly, experts fear that the security of the blockchain, which relies on encrypted blocks, may soon be compromised.

**The Vulnerability of Blockchain**

The vulnerability of the blockchain lies in its single point of failure – all the blocks are freely available for criminal organizations or surveillance operatives to gather. Although the encrypted nature of the blockchain currently prevents them from exploiting the data, the imminent development and accessibility of quantum computing pose a serious threat.

Quantum computing’s “entanglement” ability allows it to make logical leaps that conventional computers could not. This means that it could potentially fill in the gaps between data harvested from just a few blocks. Thus, quantum computing could easily penetrate the encryption of the blockchain, leading to a potential leak of sensitive data that is currently being stockpiled.

**Rise of Commercial Quantum Computing**

In recent years, quantum computing has made significant strides in transitioning from theory and prototype to commercial usage. Google’s unveiling of Bristlecone, a chip with 72 qubits, signified a major step towards reaching “quantum supremacy” and bringing mass-produced quantum computers to market. As quantum technology continues to be refined, mega-qubit machines are expected to be only months away from reality.

**Seeking Solutions**

Recognizing the serious threat posed by quantum computing, researchers from governments and computing giants including Intel, Microsoft, and Cisco, as well as academics in cybersecurity and mathematics, convene annually at the Workshop on Quantum-Safe Cryptography to discuss potential solutions to the threat. It has become evident that a collaborative approach, similar to the merging of AC and DC electricity in the 19th century, is essential in tackling the impending challenge posed by the rise of quantum computing.

**Integration of Technologies**

The technology to defend against quantum attacks already exists in the form of precursors to quantum-crypto, such as hash-based cryptography, code-based cryptography, and lattice-based cryptography, among others. The challenge now is to push for collaboration between these seemingly competing technologies in order to create a better whole that can withstand the threats posed by quantum computing.

Kiran Bhagotra, the founder and CEO of ProtectBox, emphasized the urgency of collaborating between quantum computing and blockchain technologies. The integration of the two technologies may be the key to addressing the security concerns and safeguarding against potential quantum attacks.

As cyber threats continue to escalate, the imperative for collaboration and innovation in the field of digital security has become evident. The integration of blockchain and quantum computing may hold the key to ensuring the security of sensitive data and digital infrastructure in the future.

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