INSUBCONTINENT EXCLUSIVE:
The emergence of quantum computing is posing a serious threat to cybersecurity as it can crack the most sophisticated encryption algorithms
on the horizon.So, sooner or later, quantum computers, which is an emerging technology that takes advantage of quantum physics to solve
certain problems that are impossible to be solved on traditional computers, may become a bigger issue than most IT organisations appreciate
as cybercriminals will have the resources to build their quantum computers.Google recently claimed to have a made a breakthrough in quantum
computing, pointing to a machine that has solved a problem in 200 seconds that would normally take a supercomputer over 10,000 years to
figure out.If true, the news could have big implications on the security and integrity of the cryptography behind modern blockchains.Are
blockchains at risk? Is the danger overhyped? Could Bitcoin be realistically attacked?IBM and some other companies have been doing
researches on quantum computing for the last couple of years and there are some solutions but none has come out with a standardised or
certified quantum-safe cryptographic solutions.Kadan Stadelmann, CTO at Komodo, a multi-chain blockchain architecture platform, told
TheIndianSubcontinent Middle East that quantum computing poses dangers to blockchain and cryptocurrency.The world of quantum computers is
and composable blockchain platform.Over the years, blockchain has evolved rapidly.According to Grand View Research, the global blockchain
technology market is expected to reach $57,641.3m by 2025, registering an annual growth rate of 69.4% from 2019 to 2025.Powered by IBM
getting digitised, it is all based on binary digits
Binary digits can have either 1 (on) or 0 (off)
This qubit can attain so many states at the same time and they are also able to process calculations at a much faster rate than classical
cryptographic solutions for the past couple of years which will not be able to crack cryptographic signatures.Using an IBM-built technology,
known as Dilithium, into its blockchain platform, he said the new digital signature algorithm will create a key which cannot be cracked by a
quantum computer.To compare this with the traditional signature technologies, Stadelmann said that they are based on public-key
cryptographic systems like RSA, etc.For classical computers, he said that it will take billions of years to calculate but in theory, it has
said.IBM calls this as Dilithium digital signature scheme
This new algorithm is part of Crystals [Cryptographic Suite for Algebraic Lattices] suite that has not come under any classical or quantum
algorithmic attacks.IBM donated it to the whole quantum-safe organisations and also submitted it to the National Institute for Standards and
Technology (NIST), an agency of the US Department of Commerce for research
IBM is one of the publicly available open-source algorithms that are available.This project is researching cryptographic hash functions and
Komodo is very flexible and will be able to integrate a new signature algorithm into any module
The invention will jeopardise all of the modern cryptography as we know it
blockchains that are being run on Komodo platform
However, Komodo also has other blockchains which are not on the Komodo platform but use Komodo exchange for security
We can give any blockchain an additional layer of security
