As a researcher delving into the realm of blockchain technology, I’m excited to share that Starknet, a cutting-edge layer-2 scaling solution for Ethereum, has unveiled the Starknet Stack. This groundbreaking tool empowers developers like myself to design our very own custom blockchains, leveraging Starknet’s innovative zero-knowledge technology.
The software package comes with three predefined settings: StarkWare Sequencer – this one is similar to the publicly available Starknet collection, Madera – an adaptable, open-source setup that you can customize as needed, and Dojo – a setting tailored for gaming purposes.
Following the announcement, Leo Sizaret, business development manager at StarkWare, said:
“We believe zero knowledge technologies are the future of blockchain. It gives you exceptional security and scalability while also being Quantum resistant and cost-efficient.”
The launch of Starknet’s SN Stack blockchain suite is happening at a time when concerns persist about whether quantum computers might succeed in cracking the current encryption methods employed by blockchain systems and digital currencies.
Zero-knowledge tech as a shield against quantum attacks
Zero-knowledge tech enables individuals to authenticate details like identity and possession of an account, all while concealing the precise details of the information itself. This technology is found in various forms, one such example being ZK-stark, the technology that drives Starknet.
In November, Dr. XinXin Fan, who leads cryptography at IoTeX, was honored with the Best Paper award at the 2024 International Conference on Blockchain. This recognition was earned through his co-authorship of the paper titled “Facilitating a Seamless Transition to Post-Quantum Security for Ethereum“.
In a collaborative effort, Fan and his team suggested integrating hash-based, zero-knowledge verifications for each transaction to fortify the Ethereum network against potential quantum attacks.
The researcher explained to CryptoMoon that hash functions, being irreversible mathematical operations, serve as an affordable method for securing confidential financial information against potential quantum assaults.
Following the release of the research paper, Google introduced Willow – a quantum processing unit designed to significantly decrease computational mistakes exponentially.
As per Google, Willow is capable of resolving complex mathematical issues that would require a binary computer around 10 septillion years to complete within just about five minutes.
Although quantum computing’s potential for increased processing power and reduced errors has been significantly advanced, some experts in both computer science and physics believe that the perceived danger it poses is exaggerated – especially in the short run.
After a study published by Shanghai University in May 2024 suggested that their team had successfully decrypted encryption methods using a quantum computer, headlines with an exciting or exaggerated tone became prevalent.
In simpler terms, the YouTube personality “Mental Outlaw” clarified that the quantum computer involved in the Shanghai University experiment was not as powerful as portrayed in the media, since it could only factor a 22-bit number.
In contemporary software, encryption keys typically span from 2048 to 4096 bits. This implies that present-day encryption methods are resistant against today’s generation of quantum computers.
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2025-01-08 23:35