As the tentacles of the cryptocurrency and blockchain industries spread across Africa, a major concern among users is system security. Despite being hailed as a very secure system, several hacks have made it quite obvious that the blockchain can indeed be compromised. Hence, it has become necessary for researchers and experts to find sustainable security solutions to impede the operations of cyber attackers. As a person who has personally witnessed cryptocurrency exchanges run on blockchain technology decimated by hackers, I could not sit back and wait for the next shrapnel to leave me financially impaled. I spent my time searching for the next big lacuna in the system, and as expected, I found one. Thanks to the presence of quantum computers, it can be pointed out that blockchain systems may once again be vulnerable to security attacks. This is however due to the increased computational capability of these computers, which led me to ask the question.
What Are Quantum Computers?
Quantum computers are machines that utilize the fundamentals of quantum mechanics to perform transactions and store data. They can perform calculations at an exponential rate when compared to normal computers. This is because, where classical computers encode data in bits of os and 1s, quantum computers use quantum bits (qubit) as the basic unit of memory. Though advantageous on outstanding levels, they could render traditional encryption methods ineffective, and as such, they left a vacuum for another wave of hacks.
Then Came Quantum Encryption
According to a paper written by J. Aditya and P. Shankar Rao titled Quantum Cryptography, quantum encryption rests on two pillars of 20th century quantum mechanics: the Heisenberg uncertainty principle and photon polarization. In order to deliver encrypted data, these photons serve as a one-time pad. To put it another way, quantum encryption is a way to encrypt data utilizing the principles of quantum mechanics. This is currently thought to be unbreakable by users of quantum computers. The cornerstone of this encryption is the idea that a particle's properties are altered by any attempt to measure or observe it. This implies that if two parties use quantum encryption to convey information to one another, the message will be altered, and the parties will be aware of any wiretap attempt.
Key Benefits of Quantum Encryption in Blockchain Security
- Quantum encryption can render it impossible for hackers with sufficient computational power to decrypt data or fabricate transactions on the blockchain.
- Quantum encryption makes sure that, should a hacker attempt to monitor communication in a blockchain system, the information will be altered and the recipient informed of the breach.
- In blockchain systems, quantum encryption offers secure key distribution techniques that enable parties to distribute keys in a way that ensures only those people who are permitted can access the data.
- Blockchain systems can also benefit from increased scalability, which lowers the amount of computing power required to protect data.
Conclusion
Blockchain security will unquestionably benefit from quantum encryption technology. It provides a level of protection never before seen and is resistant to attacks that may use quantum computing. Acceptance and integration will build a more trust-inspiring crypto ecosystem. With this, I can finally take a much needed breather and enjoy the tropical rains that have already swung in.
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