What is it?
Post-Quantum Cryptography (PQC) is a field of cryptography that develops new algorithms and encryption methods that will be resistant to attacks carried out by powerful quantum computers.
Simply put, this is the technology of the future that is supposed to protect blockchain, digital signatures, and all modern cryptography from the threat posed by quantum computing.
Why is this a problem for Web3?
Most modern blockchains, including Bitcoin and Ethereum, use algorithms such as ECC (Elliptic Curve Cryptography) to generate public and private keys.
It is believed that when powerful quantum computers become commercially available, they will be able to:
Shor's Algorithm: Quickly break asymmetric encryption (e.g., ECC), allowing the computation of your private key based on your public key.
Grover's Algorithm: Reduces the time required to break symmetric encryption, which affects the speed of hash brute-forcing.
If this happens, theoretically all crypto assets on the blockchain will become vulnerable.
How does PQC solve this?
PQC develops cryptographic systems that are not based on complex mathematical problems that can be easily solved by quantum computers. The most promising approaches are considered to be:
Lattice-based cryptography: Provides high speed and is the most popular for digital signatures.
Multivariate cryptography: Uses polynomials with many variables.
Transitioning to PQC is not an instantaneous process. It requires significant efforts to update protocols, standards for digital signatures, and ultimately millions of crypto wallets. Institutions like NIST (National Institute of Standards and Technology) are already actively working on standardizing PQC algorithms.
PQC is the guarantee of long-term security for Web3 and the entire digital world.
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