JPMorgan unveils research on blockchain network that is resistant to quantum computing attacks
JPMorgan Chase one of the world's largest U.S. banks has unveiled research into a Quantum Key Distribution (QKD) blockchain network that is resistant to quantum computing attacks.
QKD applies quantum mechanics to cryptography to allow two parties to exchange secure data and detect and defend against third parties attempting to intercept the exchange. The technology is seen as a viable defense against potential blockchain hacks that could be conducted by quantum computers in the future.
“At this time, QKD is the only solution that has been mathematically proven to defend against a potential quantum computing-based attack, with security guarantees based on the laws of quantum physics,”
“The proof of concept network infrastructure relied on Toshiba’s Multiplexed QKD System, manufactured by Toshiba Europe at their Cambridge UK base, and Ciena’s Waveserver 5 platform, equipped with 800 Gbps optical-layer encryption and open APIs running over Ciena’s 6500 photonic solution.”
Marco Pistoia, head of the FLARE research group at JPMorgan Chase says:
“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.”