Why quantum computing isn’t a threat to crypto… yet
Quantum computing has raised concerns about the future of cryptocurrency and blockchain technology in recent years. For example, it is commonly assumed that very sophisticated quantum computers will one day be able to crack present-day encryption, making security a serious concern for users in the blockchain space. The SHA-256 cryptographic protocol used for Bitcoin network […]
BIS to launch market intelligence platform amid stablecoin, DeFi collapse
The Bank for International Settlements (BIS) Innovation Hub announced the launch of a new set of projects targeting various aspects of traditional and crypto payments — including a cryptocurrency market intelligence platform and security for retail central bank digital currency (CBDC). BIS’s cryptocurrency market intelligence platform will be launched under the Eurosystem Centre initiative, which […]
Quantum-based random number generator for Web3 games and wallets launched
Researchers at Australia National University have teamed up with blockchain oracle provider AP13 to launch the first Quantum Random Number Generator (QRNG). The joint effort will allow Web3 entities to access a completely unpredictable random number generation system that is highly secure and free to use. Random number generators are not new, but the QRNG […]
Quantum computing to run economic models on crypto adoption
By many accounts, quantum computing (QC), which uses atomic “spin” instead of an electrical charge to represent its binary 1’s and 0’s, is evolving at an exponential rate. If QC is ever realized at scale, it could be a boon for human society, helping to improve crop yields, design better medicines and engineer safer airplanes, […]
Quantum computing firm simulates adoption of crypto payments
Multiverse Computing, a quantum computing firm with offices in Canada and Spain, has partnered with the Bank of Canada to run simulations on how the adoption of cryptocurrency might proceed as a payment method. In a Thursday announcement, Multiverse Computing said it used its equipment as part of a proof-of-concept project with the Bank of […]
Quantum computers are many years away from cracking crypto: MIT Tech Review
Condensed matter theory physicist and quantum information expert Sankar Das Sarma has argued in MIT Technology Review that quantum computers remain a very long way away from cracking RSA-based cryptography. RSA-Cryptography utilizes algorithms, codes and keys to securely encrypt private data without interference from third parties or malicious actors such as hackers. An example of […]
JPMorgan unveils research on quantum resistant blockchain network
U.S. banking giant JPMorgan Chase has unveiled research on a Quantum Key Distribution (QKD) blockchain network that is resistant to quantum computing attacks. QKD utilizes quantum mechanics and cryptography to enable two parties to exchange secure data and detect and defend against third parties that are attempting to eavesdrop on the exchange. The technology is […]