Komodo to Lead the Blockchain Revolution with Quantum-Secure Cryptography

The advent of quantum computing poses a major threat to cybersecurity, as it could break the most sophisticated encryption algorithms on the horizon.

So, sooner or later, quantum computers, which is a new technology that uses quantum physics to solve certain problems that cannot be solved by traditional computers, may become a bigger problem than most organizations estimate how cybercriminals will have the resources to build their quantum computers.

Google recently claimed to have made a breakthrough in quantum computing, pointing to a machine that solved a problem in 200 seconds, which would normally take a supercomputer over 10 years to figure out.

If true, the news could have a big impact on the security and integrity of the cryptography behind modern blockchains.

Is it blockchains at risk? The danger of their excess? Can bitcoin be really attacked?

IBM and some other companies have been doing research on quantum computing over the last couple of years and there are some solutions, but none have come out as voluntary or certified quantum-secure cryptographic solutions.

Kadan Stadelmann, who is at Komodo, a multi-chain blockchain architecture platform, told about the Middle East that quantum computing poses no danger to blockchain and cryptocurrencies.

The world of quantum computers is much more “complex and confusing”.

Komodo provides various technologies for software developers and research to build their own discovery and composite blockchain platform.

Over the years, blockchain has evolved rapidly.

According to a large view of research, the global blockchain technology market is expected to reach $57,641.3m by 2025, registering a CAGR of 69,4% from 2019 to 2025.

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Stadelmann said that Komodo is similar to Ethereum, but it is a 100% independent, free and open source platform.

“As the world becomes digitized, it's all based on binary digits. Binary digits can be either 1 (on) or 0 (off). We're not talking bits anymore, but quantum qubits, or quantum bits, which can be both 1 and 0 states at the same time. This qubit can reach so many states at the same time and they can also process the computation much faster than classical computers,” he said.

As a blockchain platform, Stadelmann said that Komodo is trying to solve this problem and has implemented quantum-secure cryptographic solutions over the past couple of years that cryptographic signatures cannot crack.

With the help of an IBM-embedded technician known as Dilithium in its blockchain platform, he said the new digital signature algorithm creates a key that cannot be cracked by a quantum computer.

Compare this to traditional signature technologies, Stadelmann said, which are based on public-key cryptographic systems such as South Africa, etc.

For classical computers, he said it would take billions of years to compute, but in theory, it was never secure and hackable or crackable.

“Breaking existing digital signature schemes is possible, but it's not easy,” he said.

IBM calls this digital signature scheme Dilithium. This new algorithm is part of the crystals [cryptographic package for algebraic lattices] suite, which does not fall under any classical or quantum algorithmic attacks.

IBM has donated to him all quantum-safe organizations, and is listed on the National Institute of Standards and Technology (NIST), the US Department of Commerce's agency for research. IBM is one of the public open source algorithms that are available.

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This project is a study of cryptographic hash functions and digital signature systems that are secure against quantum computers.

“If the US approves this algorithm and if it becomes an approved algorithm for quantum secure cryptography, then we will use it, but we do not know at the moment if it is 100% proven that it cannot be broken by quantum computers,” said he.

Prioritizing safety

“If there are any other quantum-safe solutions, then Komodo is very flexible and will be able to integrate the new signature algorithm into any module. We have already implemented, but we don't have quantum computers yet. The invention will endanger all modern cryptography as we know it. Google hasn't published quantum-secure cryptography yet. We are open,” Stadelmann said.

As of now, he said that Komodo is the only blockchain platform that uses quantum-safe technology, and this adds a consensus rule that requires that every transaction must be signed twice - once according to the blockchain's original digital signature process, and then a second times by Dilithium is a new quantum-hard signing process.

“Worldwide, we have about 30 blockchain productions running on the Komodo platform. However, Komodo and other blockchains that are not on the Komodo platform, but use the Komodo exchange for security. We can give any blockchain an extra layer of security. Even Ethereum platforms can use Komodo technology,” he said.

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