Insider Brief
- Quantum computers could potentially break current blockchain encryption, risking billions in cryptocurrency assets, according to a quantum policy expert.
- Quantum-resistant cryptography and quantum random-number generators are emerging as vital solutions to protect blockchain networks from quantum attacks.
- Companies are already developing quantum-secure blockchain technologies to counter these future threats.
Quantum computing is maturing.
Both crypto and quantum are earning attention from Presidential candidates and global policymakers, eager to tap into both the power of these new technologies, as well as the extensive communities of advocates.
Taken separately, practitioners of those fields may be excited about this developments. However, the two deep techs are on a collision course.
Quantum computing is poised to disrupt a wide range of industries, and the world of cryptocurrencies is no exception, points out Arthur Herman in a recent op-ed in the Korea Herald. Herman, Senior Fellow at the Hudson Institute and Director of the Quantum Alliance Initiative, writes that the same technology that could unlock immense computational power might also render existing cryptographic systems, including those that secure blockchain networks, vulnerable to attacks.
This alarming possibility, he argues, should be a wake-up call for the cryptocurrency industry and for anyone relying on blockchain technology. READ MORE...
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