One of the biggest concerns about quantum computing in the cybersecurity sector is how easily those computers could crack security protocols.
Back in 1994 (yes, 1994) Peter Shor showed that a quantum computer could factor large number sets which would effectively break most encryption standards used today.
But now IT experts at Monash University, Collinstar Capital, and Hong Kong Polytechnic University reckon they have a protocol that would secure data even in an age of quantum computing.
The solution is called the Lattice-Based One Time Ring Signature or L2RS and it seems like the digital equivalent of Jason Bourne using a crowd to escape.
“The L2RS deploys cryptographical techniques to protect the privacy of users. It allows any user to hide his identity among a group of users,” senior lecturer and director of the Blockchain Research Lab at Monash, Dr. Joseph Liu said.
L2RS could even be used to secure the technology which underpins the security of a Blockchain, which in it’s current form, would be trivial for a quantum computer to crack.
In fact, the experts are using L2RS to advance HCash, an open-source and cross platform cryptocurrency exchange which Liu claims is more secure than Bitcoin.
The expert says that when quantum computing becomes ubiquitous HCash will remain secure and user privacy will be preserved.
“Therefore, HCash has a significant advantage over other cryptocurrency exchanges even after the practical rise of quantum computers,” adds Liu.
Of course we’d have to see L2RS working out in the wild before entrusting our money and privacy to it but it’s good news that some folks are thinking about our privacy as quantum computing comes closer to widespread fruition.
[Source – Monash University] [Image – CC BY 2.0 Steve Jurvetson]