Professor Massimiliano Sala, hailing from the University of Trento in Italy, recently engaged in a thought-provoking discussion about the future of blockchain technology in relation to encryption and quantum computing. This conversation took place as part of Ripple’s ongoing university lecture series.
Sala’s main focus was on the potential threat that quantum computers pose as the technology advances. According to the professor, the encryption methods currently in use could be easily cracked by the quantum computers of tomorrow, thereby putting entire blockchains at risk.
Sala referred to a hypothetical scenario called “Q-day,” which signifies the point at which quantum computers become powerful enough for malicious actors to break classical encryption methods. This scenario would have far-reaching consequences for various fields where data security is crucial, including emergency services, infrastructure, banking, and defense. However, the impact on the cryptocurrency and blockchain world would be particularly devastating.
The professor specifically warns that “all classical public-key cryptosystems should be replaced with counterparts that are secure against quantum attacks.” The reasoning behind this is that a future quantum computer or quantum attack algorithm could decipher the encryption on these keys through mathematical brute force.
It is important to note that even though there is currently no practical quantum computer capable of accomplishing such a feat, governments and scientific institutions worldwide are preparing for Q-day as if it is an inevitable event. Sala acknowledges that this event may not be imminent, but advancements made by physicists in numerous academic and commercial laboratories have led many experts to believe that such systems could become a reality within a few years.
Sala expresses satisfaction with the progress being made in the sector and advises blockchain developers to continue collaborating with encryption experts who possess a deep understanding of the standards and innovations required to make modern systems quantum-proof.
In related news, Harvard University has successfully constructed a hacker-proof quantum network in Boston using existing fiber cable, further demonstrating the increasing interest in and importance of quantum technology.
Ripple releases cautionary statement from mathematics professor advocating for the replacement of public-key cryptosystems.