"Quantum Secure Multi Party Computation for Blockchain Networks"
Assalam O Alaikum |
|---|
Hello, dear friends! Well, come to my post. How are you all? I hope you will be doing well, by the grace of Almighty Allah. I'm also fine and enjoying my day. Today I'm here to share my knowledge with you about the topic "Quantum Secure Multi Party Computation for Blockchain Networks" in this Steem Alliance community. So let's start without any further delay.
Friends, as we all know, in this digital era of technology, blockchain networks are revolutionising the whole ecosystem of cryptocurrencies and finance due to their unique features, such as validating transactions seamlessly, quickly, and transparently. Also, they provide the platform with a high level of security with the help of smart contracts and cryptographic techniques.
However, with the presence of all these qualities and decentralisation, blockchain networks face a lot of challenges due to quantum threats, which can affect their activities and create problems for the users and participants of the network. This is because quantum computing can break the cryptographic techniques and smart contracts of blockchain networks.
.jpg)
In this regard, multiparty computation has emerged as a prominent solution for those platforms that are facing quantum threats. Also, they act as a resistive force against these threats and ensure the security and efficiency of the network. In most of the cases, traditional blockchain networks, which rely on cryptographic techniques for securing transactions and storing user data, get prone to quantum threats.
This is because they are mostly based on algorithms like superposition, in which complex mathematical puzzles are solved in validating the transactions, but these algorithms are most vulnerable to quantum threats as they can break the RSA and EEC. Thus, when these are broken by the quantum attack, the security and efficiency of the network are greatly affected.
When that kind of situation occurs within the network, it makes the network less secure, reliable, and transparent for the people. So to overcome that kind of situation in the networks, different types of techniques are used to make the platform better for people. In this regard, multi-party computation and quantum-secure multi-party computation techniques are used.
If we talk about multiparty computation, we can say that these are special protocols that allow more than two parties to contribute to the network where the information isn't controlled by a single authority. So due to the presence of decentralisation, it ensures the security and transparency of the network, but since it has all these things, it can be vulnerable to quantum threats.
But here, quantum-secure multiparty computation is better and more reliable than multiparty computing. This is because in this technique, quantum resistance techniques are used, which create resistance against quantum threats and other vulnerabilities. It also utilises hash-based cryptography and lattice-based cryptography, which create a level of resistance against quantum threats.
As a result, when these protocols and techniques are implanted in a blockchain network, it becomes better and more reliable for people. Besides all these things, it provides many other benefits to the networks. Let's have a look at them.
.jpg)
The quantum secure multiparty computation enhances the security and privacy of the network by validating the transactions securely in the presence of smart contracts and their decentralised nature. Even in the presence of quantum threats, the platform will remain temper-proof.
The QSMPC improves the decentralisation of a blockchain network and makes it more secure. Also, it allows the nodes to work smoothly during quantum threats, and in this way, it also increases the trust of people on that network.
The QSMPC makes the consensus mechanisms of blockchain networks more efficient. These mechanisms include the proof of stake, the proof of work, and the proof of authority. In this way, the platform works more efficiently and quickly.
Conclusion |
|---|
In conclusion, we can say that quantum secure multiparty computation is very crucial for blockchain networks, as it makes them more secure, transparent, efficient, and reliable for people. Also, it ensures the integrity of the network, as when a network works smoothly, people trust it easily. Besides them, quantum secure multiparty computation is also a solid solution to deal with quantum threats and other vulnerabilities in the network.
X Share
Note:- ✅
Regards,
@jueco