JPMorgan unveiled research on quantum resistant blockchain network
The technology is considered reliable protection against potential blockchain hacks
18.02.2022 - 13:15
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What’s new? The US banking giant JPMorgan Chase has unveiled research of a quantum key distribution (QKD) blockchain network that is resistant to quantum computing attacks. According to a statement, the company collaborated with Toshiba and Ciena to deploy and test the QKD blockchain.
Information on the Business Wire website
What does the statement say? QKD uses quantum mechanics and cryptography to provide a secure exchange of data between two parties, as well as to detect and protect against third parties trying to eavesdrop on the exchange. The technology is seen as reliable protection against potential blockchain hacks that can be carried out by quantum computers in the future.
“The proof of concept network infrastructure relied on Toshiba’s Multiplexed QKD System and Ciena’s Waveserver 5 platform, equipped with 800 Gbps optical-layer encryption and open APIs.”
What does the JPMorgan Chase representative say? Marco Pistoia, engineer and head of the FLARE Research group at JPMorgan Chase, stressed the importance of developing a secure blockchain infrastructure before quantum computing enters the market:
“This work comes at an important time as we continue to prepare for the introduction of production-quality quantum computers, which will change the security landscape of technologies like blockchain and cryptocurrency in the foreseeable future.”
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