Blockchain has matured beyond its early hype to become a viable technology on which to build a range of products and services. Yet one aspect of the technology is rarely discussed: the cryptography underpinning blockchain is vulnerable to attacks by quantum computers.
Organisations are exploring large-scale blockchain deployments to benefit from the opportunities this new technology presents. For many, this transition will be invaluable.
There are, however, some necessary considerations. A full implementation will require costly migration to new systems, and will take significant time to get up and running. By the time a full implementation and migration is complete, we will be into the quantum era. This means that the arrival of code-breaking quantum computers will be just a few years away.
The security of blockchain relies on elliptic curve cryptography, which will be broken by quantum computers of sufficient size. Using a variant of Shor’s algorithm, a quantum computer can easily forge an elliptic curve signature that underpins the security of each transaction in a blockchain.
For organisations looking to deploy blockchain technology, the reality is that shortly after completing a migration to a blockchain-based system, unless you address this challenge upfront you will need to migrate again to a system that can withstand quantum computers.
To solve this challenge, Post-Quantum offers the ability to make your chosen blockchain quantum-safe. We provide quantum-resistant signature schemes, replacing the vulnerable public key cryptography currently used for signing and verifying transactions with lattice-based constructions.
We can ensure your blockchain deployment is secure today and tomorrow, enabling a straightforward transition to a new infrastructure and the quantum era.
To find out more please contact us.