What does Quantum Readiness mean?
The ability to transition smoothly to more secure encryption keys for the quantum computing age.
Blockchain security is based on Public-Private Key encryption (PPK) where only the owner of the private key can produce a valid transaction request.
When quantum computing becomes available, currently used encryption keys will provide weaker security. This is because quantum computing confers a quadratic advantage in breaking most existing forms of symmetric encryption. For example, if it takes a digital computer 232 = 4.3 billion guesses, it would only take a quantum computer 2(32/4) = 28 =256 guesses.
Future-proofing at Geeq:
Quantum-resistant encryption protocols will require much larger keys for both symmetric and asymmetric encryption. These encryption methods are also much more computationally intensive. In fact, there is a trade-off between using longer keys, which will take up more storage and bandwidth but require less computation, compared to relatively shorter keys that require more computation, electricity and time costs. In all cases, keys will be at least several times longer than what are standard at present.
Geeq’s validation protocols provide security at low resource costs. Thinking ahead to security in a quantum computing age guides how Geeq blockchains’ network of networks is developed today.
Used in a Sentence:
Geeq’s blockchain ecosystem is designed from the start to provide smooth upgrade paths for all blockchain-based services, including the transition to more secure, quantum-ready keys.
Last Updated: February 25, 2023
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