Johann Polecsak, co-founder of the QAN blockchain platform, contends that public blockchains like Bitcoin, Ethereum, and Solana are still unprepared to adopt post-quantum cryptography without having a major impact on users, even as the possibility of quantum computers breaking current cybersecurity standards grows.
Here's what you should know:
Blockchain Vulnerability to Quantum Attacks
As quantum computing advances, Johann Polecsak warns that public blockchains like Bitcoin, Ethereum, and Solana lack the readiness for post-quantum cryptography, posing significant risks during migration. He underscores the challenge of distinguishing legitimate users from hackers during fund transfers, emphasizing potential losses reaching billions of dollars and rendering public blockchains worthless.
Polecsak urges enterprises and governments to recognize the looming quantum threat, citing Google's quantum computing breakthrough as a pivotal moment. He advises individual users to conduct timely asset transfers to post-quantum blockchains to safeguard their funds.
Discussing QAN's quantum-resistant blockchain, Polecsak highlights the integration of CRYSTALS-Dilithium algorithm, providing security against quantum attacks while maintaining Ethereum compatibility. He emphasizes the platform's unique approach, facilitating seamless integration of Ethereum-compatible wallets with quantum-resistant capabilities.
Polecsak notes the proactive stance of tech giants like Google, Apple, and Microsoft in incorporating post-quantum cybersecurity measures. He also discusses a European country's adoption of QAN's technology to counter "Store now, decrypt later" attacks. With significant investments from global entities like NATO and the European Commission, Polecsak stresses the importance for individual users to stay informed and consider asset transfers to post-quantum blockchains for enhanced security.
The content provided on MoneyTimes.com is for informational purposes only and is not intended as financial advice. Please consult with a professional financial advisor before making any investment decisions.
