As a researcher with experience in the field of blockchain technology and cybersecurity, I am particularly intrigued by QANplatform’s recent announcement of the world’s first quantum-resistant EVM-compatible testnet. The potential implications of this development are significant, given the increasing concern around quantum computing and its potential to render current encryption methods obsolete.
“QANplatform introduced the initial quantum-safe blockchain testing network that can work with the Ethereum Virtual Machine (EVM). This innovation facilitates the creation of quantum-resistant smart contracts.”
According to the announcement from QANplatform shared with CryptoMoon, the new testnet allows developers the flexibility to compose smart contracts with any preferred programming language.
According to Johann Polecsak, the co-founder and CTO of QANplatform, this marks the debut of a testnet that is compatible with Ethereum Virtual Machine (EVM) and incorporates quantum-resistant cybersecurity. (Or) In an interview with CryptoMoon, Johann Polecsak revealed that QANplatform’s new testnet is both EVM-compatible and fortified with quantum-resistant security features.
“Centralized authorities like governments, companies, and organizations can switch their IT security to post-quantum cryptography much more easily than blockchain platforms.”
Since the launch of IBM’s Condor quantum processor in December 2023, boasting 1,121 qubits and ranking as the second largest, post-quantum security has gained significant importance.
According to Polecsak’s explanation, the decentralized nature of leading blockchain networks such as Bitcoin, Ethereum, and Solana makes it difficult for them to implement quantum-resistant security measures without causing substantial drawbacks.
“Pseudonymity of blockchain will backfire at post-quantum migration because it will be impossible to tell legitimate owners migrating their funds and data or hackers stealing all of it apart. In this case, billions of dollars worth of “free money” and data could land in hackers’ hands if they start migrating on the real owners’ behalf making the affected blockchains immediately worthless.”
The new QANplatform testnet allows EVM-compatible protocols to trial their migration procedure towards a quantum-safe solution, shielding users’ funds from potential risks in the mainnet.
Approximately two months after the initial adoption of QANplatform’s quantum-resistant technology by a European country in March, an announcement regarding the testnet was made. This technology safeguards against potential quantum computing assaults targeting the cybersecurity infrastructure of governments.
Quantum security is already a significant concern in 2024
As a researcher in the field of quantum technology, I can tell you that governments around the world are gearing up for the post-quantum era. To put this into context, let me share an example from my own area of expertise. In 2018, the European Commission took a significant step towards advancing quantum technology research by launching the Quantum Flagship initiative. This ambitious project came with a budget of at least 1 billion euros ($1.078 billion) and a duration of 10 years. By investing in this way, the European Commission is demonstrating its commitment to staying at the forefront of quantum research and development.
It’s worthwhile making these efforts, given that quantum computing poses a substantial security risk to regular internet users, as stated by QANplatform’s Polecsak.
“Quantum-resistant technology is important already today because of the ‘Store now, decrypt later’ cybersecurity threat that involves attackers collecting encrypted data with the intention of decrypting it later using more powerful computing methods, such as quantum computers.”
Major corporations are preparing for a world after quantum computing as well. In February, Apple introduced an update intended to safeguard iMessage communications using post-quantum cryptography, thereby making Apple one of the initial few companies providing quantum-resistant messaging services.
As a security analyst, I’m excited to share that Signal, the popular messaging app, announced a “quantum-safe” encryption upgrade in September 2023. However, Apple claims they were the pioneers to achieve “level 3” encryption with this upgrade. In simpler terms, both companies have enhanced their security measures, with Signal focusing on quantum resistance and Apple boasting about reaching level 3 encryption first.
As a forward-thinking crypto investor, I recognize the potential threat that quantum computers pose to our current cybersecurity infrastructure. While it’s true that developing stable quantum qubits may take some time, we can’t afford to wait and risk having our data compromised when the time comes. That’s why I believe it’s crucial for us to invest in post-quantum security solutions now, before quantum computers become a reality. By doing so, we can ensure that our investments are protected from potential attacks using today’s main cybersecurity algorithms, which may be easily broken by quantum computers once they become a reality.
“Today’s asymmetric cryptographic algorithms like RSA and EC used by the whole internet – including governments, banks, email providers, social media, blockchain platforms, etc — will be cracked by quantum computers.”
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2024-05-07 18:06