4 Learnings at the intersection of Blockchain and Quantum Computing from Entrust Engage
After delving into the science of quantum computing in the second episode, the Entrust Engage podcast moves towards the world of blockchain and the impact of quantum computing on it in the third episode. Jon Geater, Chief Product and Technology Officer at RKVST, and Pali Surdhar, Director of Product Security at Entrust, commented on this topic. The intersection of blockchain and quantum computing is quite fascinating, and that’s exactly what this episode explores. Here are the four most important things I learned from this conversation:
#1: What is blockchain?
Before we delve into how quantum computing affects blockchain, it is important to have a basic understanding of exactly what this technology is. As this episode explains, blockchain is ledger-based, decentralized, and built on high-integrity cryptography. It has two crucial characteristics: control is spread around to a number of participants, and accountability is shared and decentralized. Built on the foundations of cryptography and principles of fair access, blockchain ensures fair access, good control and knowledge of the reliability of the data.
#2: Is blockchain at risk from quantum computing?
In blockchain, the threat posed by quantum computing has more to do with the integrity of historical ledger records than the decryption of data. If a bad actor were able to backdate data and effectively rewrite history by leveraging quantum computing, it would violate the blockchain principle of ensuring the truth of data.
While this could be a potential vulnerability in the future, blockchain is currently partially quantum resistant already. Even if the technology were to be compromised, it could only happen at one time, in one place, on one computer and in one piece of memory. And then after that, the computer has to convince the other participants in the consensus that this is the correct version of the story to accept. In a way, the decentralized nature of blockchain networks has some built-in quantum resistance.
#3: If so, does blockchain need to be prepared to reduce risk?
There is a significant overlap between what is required by regulatory bodies and the capabilities of blockchain-based architecture. Since there is already some resistance in blockchain to quantum attacks, is there any urgency to move to quantum-safe techniques? This may depend on the use case, but the answer is probably yes.
In blockchain, if the use case involves a confidentiality requirement, key exchange occurs, and the same vulnerability exists as on the wider internet. Another important factor is the data inside the blocks themselves; users must ensure that the chain references or digests cannot be forged. There is another situation where it is useful to have quantum-resistant algorithms deployed.
#4: When should blockchain prepare for the quantum threat?
To paraphrase our experts: Prepare now, but know you’re not alone. Blockchain creates accountability for its shared infrastructure. Blockchain users would be wise to update their cryptography and transition their algorithms to quantum-safe alternatives as outlined by NIST. They exist in a community; the best advice is for users to come to an agreement to protect assets and shared history going forward.
To hear all about the intersection of blockchain and quantum computing, listen to the third episode by Entrust Engage. For more information on post-quantum cryptography and how to prepare, check out our Post-Quantum Preparedness page.
The post 4 Learnings at the Intersection of Blockchain and Quantum Computing from Entrust Engage appeared first on Entrust Blog.
*** This is a Security Bloggers Network syndicated blog from Entrust Blog written by Lavanya Suvarna. Read the original post at:
