- Ripple’s interview with Dr Sala presented Quantum Computing as a security threat to BCT.
- Sala advised the community to shift to quantum-resistant cryptographic systems.
Ripple, leading digital payment platform, interviewed academician and University of Trento professor, Dr.Massimiliano Sala. The professor shared insights on Blockchain technology and quantum computing. He threw light on security threats surrounding BCT, quantum-resistant cryptographic systems and the difficulties surrounding them.
Ripple has started a University Blockchain Research Initiative (UBRI), part of which is the Ripple Insights Series. The interview saw discussions on international collaborations and academic curricula.
Make BCT Resistant to Quantum Computing
Dr.Sala discussed how Quantum computing can pose a security threat to Blockchain technologies. He stated that quantum computers can solve foundational problems of digital signatures. This would put users’ digital assets in a vulnerable position and expose them to security threats.
Most companies depend on digital signatures for protection on blockchain platforms. Additionally, several technologies peg their security measures to cryptographic systems. Thus to ensure protection, the academician discussed the replacement of all classical public-key cryptosystems with quantum-resistant counterparts.
In that viewpoint, he also addressed the difficulties encountered when integrating such systems into blockchain technology. An increase in computational demands and the requirement for larger data sizes are encountered during the transition.
Moreover, he discussed that the community has been working on developing quantum-resistant algorithms. He states that such a transition in the community is crucial. Even though the threat materialising isn’t imminent “it is significant enough to warrant proactive measures”, stated the professor.
In light of developing cryptographic defences, Dr.Sala cites international collaborations working on it. He referred to the U.S. NIST standardisation process. It aims to establish a common cryptographic standard that is resistant to quantum attacks. This will enhance ‘reliability and security’ through community-wide evaluation of cryptographic schemes.
Furthermore, the academic sector conducts extensive research on Blockchain technology. One of the focal points is the intersection of cryptographic systems and quantum computing. Dr.Sala addressed the need to enhance the academic curriculum with quantum-resistant cryptographic systems to face emerging challenges.
Ripple’s discussion with Dr Massimiliano Sala has revealed significant insights which will help protect Blockchain technology from future security threats. The transition to quantum-resistant systems is crucial as leading cryptocurrencies such as Bitcoin rely on BCT.
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