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Blockchain Cryptography and the Quantum Threat

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Blockchain Cryptography and the Quantum Threat Blockchain Cryptography and the Quantum Threat

Blockchain Cryptography and the Quantum Threat

?ryptography is a complex science based on information protection. Most of the contemporary internet services such as internet banking, private messaging and personal data protection would not be possible without modern cryptography. A lot of today’s blockchain projects use additional cryptographic solutions, but most of them are not quantum-resistant. However, there are several projects, for example, GEO Protocol, which are already using post-quantum cryptography as the base technology to protect the data.
Computer cryptography
The most commonly used encryption methods initially were symmetric algorithms based on quite simple principles. Let?s say Alice and Bob need to exchange messages in a way that ensures no one else can read their contents when intercepted. For this purpose, Alice and Bob have a common secret key (a cipher). Using that secret key, Bob could encrypt a message and transmit it to Alice. Alice, in turn, could use the very same secret key on her side to decrypt the received message and read its contents. Backward communication from Alice to Bob will proceed in the same way.
Despite the simplicity and speed of these types of algorithms, they possess a number of serious drawbacks. The main problem is the need to have a secure way to pass the common secret key to the participants. In theory, Alice and Bob could meet in person and pass the key. However, if they would like to exchange messages with a large number of counterparts, or if they are located a long distance from one another, this way would not work. The most prominent symmetric algorithms today are Advanced Encryption Standard (AES), Data Encryption Standard (DES), International Data Encryption Algorithm (IDEA) and World AutoKey Encryption Algorithm. In 1975, as a response to the need for more advanced encryption methods, the concept of asymmetric encryption was introduced. Let?s go back to Alice and Bob. Each of them has their own secret key, also known as a private key because no one should know this key except for its owner. And there is also a single possible open public key for every private key that can be made known to anyone. This pair of keys work in such a way that the public key can only be used for message encryption, but not decryption.  In order to decrypt the message encrypted with a public key, you need the corresponding private key. If Bob would like to send a message to Alice, he takes her public key (that is freely available on the open network), encrypts the message and sends it. Alice is able to decrypt it with her private key, known to her exclusively, without fear that the contents of the message could be exposed to third parties.

How asymmetric encryption works
Cryptography in blockchain
Cryptography is at the heart of any blockchain, providing the basic functionality of the system. Blockchain architecture implies that the trust between the network participants is based on the principles of math and economics, i.e. formalized. Cryptography...
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Blockchain Cryptography and the Quantum Threat Blockchain Cryptography and the Quantum Threat

Fuente de la noticia: livebitcoinnews
Fecha de publicación: 05-12-2018 21:16
visto: 8

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