Moving from a ‘maybe’ into a ‘when’, the threat of quantum computers being able to break all cryptography on the internet is now a certain fact. Although people aren’t sure of the exact date when this moment will occur, the recent developments in quantum computers by IBM represent an alarming fact: quantum attacks are much closer than we previously thought.
IBM recently announced that they have created a 127-qubit processor, meaning that they’ve crafted an incredibly powerful quantum computer. However, even after only just breaking the record, they expect to release a machine with 1,121-qubit processing by 2023. This shift into quantum computing means that the threat of quantum hacking is more pressing than ever.
Within this article, we’ll be explaining what quantum attacks are and how you can protect yourself online.
What are quantum attacks, and why are they a problem?
Quantum computers will be able to process tasks at incredible speeds, doing what would take a regular computer hours in mere seconds. While some businesses like NASA are using these computers for innovation, cutting down the time it takes to send messages into space, many are predicting more nefarious uses.
The majority of encryption (and all of that run on the blockchain) uses cryptography. This is a ‘secure’ method of protecting codes, generating information through mathematics which is notoriously difficult to crack. Well, it was until recently.
With the development of quantum computers, cryptography can now be solved and cracked in a matter of seconds, meaning that this form of encryption could become almost useless. Considering that major layer-one blockchain ecosystems like Bitcoin and Ethereum work due to cryptography, this poses a major threat to cryptocurrency, as well as general online security.
As quantum computers become a working reality, people with nefarious intentions will be able to use them to crack open blockchain systems. Private wallets will suddenly be public to the user of the quantum computer, meaning that they could steal cryptocurrency on a scale that has never before been heard of.
This even extends into any form of private data. Everything from banking records to medical histories can all be unlocked through a quantum attack, meaning that everything on the internet is suddenly in danger of being exposed.
While representing an impressive stride in the world of technology, the development of quantum computers also demonstrates that the possibility of quantum hacking is much closer than we thought.
Are there any potential solutions?
Quantum hacking definitely poses a threat, with even The White House releasing a memo warning businesses about it. This memo calls businesses and organizations across the States to react now, developing defense systems and ensuring they are ready when the eventual quantum hacking begins.
Thankfully, the development of new technologies and the renovation of older ones have allowed for the arrival of tech that could help to stop these threats.
While most of the defense solutions are still in the early stages of development, there are two break-out solutions that are currently being discussed in the world of blockchain.
The two main avenues that are considered solutions are:
- The development of quantum-defense solutions
- The advancement of artificial intelligence defenses
Let’s break these down further.
Quantum Defenses
Alongside quantum hacking, quantum defenses are also an industry that uses the base technology of quantum computing. Instead of using these new systems for malicious intent, quantum defenses are about protecting systems from the harmful impacts of quantum hacking.
The current market leader of quantum defenses, QANplatform, is creating quantum-resistant technology on their layer-one blockchain ecosystem. Their technology will allow for the development of quantum-resistant smart contracts, DApps, DeFi solutions, tokens, NFTs, and even Metaverse tokens.
By employing lattice-based post-quantum cryptography, QAN will construct systems that are able to evade the impacts of quantum hacking. This solution presents the next step in blockchain security, allowing for a comprehensive solution to the problem.
Artificial Intelligence Systems
AI has taken the world by storm over recent years, with this technology now being confidently embedded across the majority of industries. Blockchain is no different here, with AI now being a core part of many of their systems. Especially when it comes to security, artificial intelligence provides an additional layer of defenses that add to cryptography.
While quantum hacking could very easily destroy the field of cryptography, blockchain AI solutions like Oraichain are integrating AI in order to prevent the destabilization of blockchain security. While private keys could be cracked through quantum hacking, Oraichain has created AI software that enables advanced biometric identification.
Including voice scanning, iris and retina, finger vein, fingerprint, and face-scanning technology, these biometric AI systems allow for an additional layer of security. Instead of something that can be disabled by quantum hacking, blockchain security can embrace these AI biometric defense systems in order to protect individual users.
Even if quantum defenses systems failed and the cryptography that guards blockchain was disabled, these AI systems would still be in place to ensure that user wallets are not plundered.
Final Thoughts on Quantum Hacking
While quantum hacking provides a very real threat to the world of blockchain, there are solutions in development that will help curtail the damage that could be done. Especially when looking towards AI systems and quantum defenses, there are going to be a range of different systems that can be integrated into blockchains in order to prevent their corruption.
As the threat of quantum hacking mounts over the next few years, we can expect to see a rush of capital and interest into quantum defenses and comprehensive AI security technology.
