Why Blockchain is No Silver Bullet for Cyber Threats (Forbes)


Tomorrow’s quantum computers will be more far powerful than today’s digital classical computers. Quantum technology will be poised to decrypt the complex algorithms that asymmetric encryption systems use to secure almost all electronic data, including blockchain. Because in the end blockchain technology still uses the same cryptographic building blocks that are at risk to quantum computer assault. More specifically, blockchains rely on ECC – Elliptic Curve Cryptography – for authentication which can be broken by future quantum computers. So instead of the answer to all our cybersecurity vulnerabilities, blockchains could become just as vulnerable as web browsers, VPN’s, and other systems.