Threat to the Current Blockchain Cryptosystems Due to the Advancement of Quantum Computers
Maulik Hiten Pandya · 2022
In this note, we’ve discussed how there is a constant threat to the current cryptographic systems of Blockchain by the advancement of Quantum Computers. As the security and privacy of Blockchain solely depends on the hashing and digital signatures, quantum algorithms like Shor’s algorithm and Grover’s algorithm can prove to be a real problem if developed in the coming future. Majorly, ECDSA is used as a way to sign digitally. It uses the logarithmic problem for security which cannot be solved by the classical computers, making it secure from classical computers. But this can be compensated for by Shor’s algorithm. Furthermore, we have discussed the Post-Quantum Cryptographic schemes which are considered to be Quantum Resistant, i.e., secure from future quantum attacks.