Blockchain is widely renowned for its ability to store information securely and often times anonymously. A major threat to blockchain tech is quantum computing, however, as the exponential increase in computing efficiency may render classical cryptography obsolete. A recent project by the Russian Quantum Center (RQC) and Gazprombank tested quantum key distribution (QKD) as a method of securing a blockchain network.
While QKD is not new technology by any means, it has not been applied to blockchain networking before. In the experiment, Gazprombank tested their QKD infrastructure across a three-party network on urban fiber in Moscow.
What makes this unique?
Quantum key distribution relies on laws of quantum physics that state by looking at the quantum structure changes it. This change enables individuals to determine whether a communication has been intercepted. By adapting a blockchain network to this type of infrastructure, the RQC is paving the way for a quantum computing resistant blockchain networking scheme.
What challenges did they face?
When setting up their experiment, the RQC faced challenges such as having to reconfigure the blockchain network to operate based on a QKD encryption format. This challenge in and of itself is significant due to the nature of blockchain requiring keys to be viewed, which would theoretically alter the key upon viewing. This provides the basis for QKD security.
How will this help future-proof Blockchain technology?
By establishing blockchain formats that are based not on classical cryptography, but on quantum-resilient formats such as QKD, this breakthrough is helping to reduce the likelihood that quantum computing can break blockchain technology.
Blockchain technology is helping to increase the efficiency of admnistrative and inventory related tasks as well as networking and information storage. Blockchain technology does, however, have an achilles heel at the moment. It relies on classical cryptography.
While cryptography stands up well against normal computers, quantum computers are likely to change that. A Quantum secured blockchain is paving the way for humanity to future-proof our emerging information storage protocols and cryptocurrency platforms.
A quantum secured blockchain is a big step forward in terms of making sure that emergent technologies continue to impact the way business is done in the next few years as quantum computing becomes a more commercially available prospect.