Cardano Foundation and Z/Yen: Threat of Quantum Computing to Blockchain Security
Cardano Foundation, an organisation providing objective support for blockchain developer, Cardano, has published a report with think-tank Z/Yen, examining how quantum computing could threaten the security of public key cryptography.
The report, entitled “The Quantum Countdown: Quantum Computing and the Future of Distributed Ledger Encryption”, is part of the Swiss-based Cardano Foundation and Z/Yen’s Distributed Futures research programme, dedicated to blockchain, cryptocurrencies and artificial intelligence. Authored by technology legal expert Maury Shenk, it finds that if – and when – large-scale quantum computers become available, they would break the security of widely-used public key cryptography, which allows remote parties to communicate securely and authenticate transactions without sharing a secret key in advance.
As well as explaining how quantum computing threatens public key cryptography, the report considers the available solutions to the problem and provides frameworks for deciding when and how to respond.
Distributed Futures, led by Professor Michael Mainelli, co-founder of Z/Yen, shares intelligence on blockchain cryptocurrencies, FinTech, RegTech, and other topics where disruptive technology meets finance.
Michael Parsons, Chairman of the Cardano Foundation, explained the organization’s rationale: “As part of our extensive blockchain research programme with Z/Yen, we are exploring a range of issues from the technological, to regulation and governance and industry applications. The topics explored are forward-looking by their very nature, and the possible impact of quantum computing on the blockchain is a case in point.”
For more information on the Cardano Foundation: https://cardanofoundation.org
For more information, on Z/Yen visit: http://www.zyen.com/events/distributed-futures.html