Quantum Computing & Blockchain Security: Preparing for the Future
Do you know that the digital walls surrounding our financial and personal data are currently built on mathematical problems that would take a traditional supercomputer trillions of years to solve?
However, a new architectural threat is rising and it is called ''Quantum Computing''.
While much of today’s quantum machines are still in their infancy, the strategy being employed by modern hackers suggests the war for your data has already begun.
Truth is, hackers are currently collecting a vast amounts of encrypted blockchain messages, transaction histories, and private emails.
The question is, Why steal what they cannot yet read?
It is called Harvest Now, Decrypt Later (HNDL). These hackers are banking on the future where quantum computers are powerful enough to shatter current encryption standards.
Most blockchains today are at risk, including $BTC and Ethereum. Reason is, they rely on the Elliptic Curve Digital Signature Algorithm (ECDSA).
Ideally, deriving a private key from a public key right now is impossible but in a quantum world, Shor’s Algorithm allows quantum bits (qubits) to perform these operations.
As Grayscale recently noted, while quantum threats might be a "red herring" for the immediate year of 2026, the long-term risk is undeniable.
A sufficiently powerful quantum machine could:
1. Derive private keys from public addresses, allowing unauthorized spending.
2. Forge digital signatures to manipulate smart contracts.
3. Compromise consensus mechanisms by impersonating validators.
What then is the solution?
''PQC'': Post-Quantum Cryptography
As of late 2024, The national institute of Standards and Technology(NIST) already finalized PQC, a cryptography which acts as a 3D maze that quantum computers cannot break.
Projects like Starknet and Algorand are already integerating this.
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