We could say China is already living in the 22nd century. Developers in the Middle Kingdom are creating a solution to the problem even before there is a hint of the problem. This is evident in the blockchain platform ChainMaker, which technology developers say will make online transactions even more secure. The innovation will be able to withstand attacks from classical and… quantum computers, which are just at the dawn of their evolution. Experts from the Department of Cybersecurity MINE.exchange could not pass this news by. Let’s figure out what this technology is and its application value.
The system started being tested back in January of last year. China’s first blockchain platform was created by the Beijing Academy of Blockchain and Edge Computing. The software and hardware were developed in collaboration with Tsinghua and Beihang universities and with the participation of Chinese technology giants, including Tencent and Baidu.
Already today, the ChainMaker platform is actively used in carbon trading, supply chain finance, and even to track food origins during the recent Beijing Winter Olympics.
The platform uses some of the most innovative technological algorithms. Like other blockchain networks, the digital record list is stored in blocks that include the time and date of the transaction, which are difficult to updаte once detected. With the increasing prevalence of quantum attacks, this initiative could provide counterparties with a unique opportunity to protect their blockchain networks.
The obsolescence of traditional secure communications that use prehistoric encryption has been evident since 1994 when American mathematician Peter Shore discovered that a quantum computer could be used to find the prime factors of huge numbers. To counter potential attacks from quantum computing, ChainMaker has developed its classic cryptographic algorithms, post-quantum cryptography, and a quantum key distribution system.
QuantumCTek’s head of quantum technology, Ying Yong, said there is a need for a universal solution to counter quantum attacks:
“The cost of reparation would be enormous. That’s the kind of thing we have to plan for in advance. Creating a quantum secure communication network is an urgent task. The denser the network, the more practical it becomes,” Mr. Yong said.
The topic of quantum attacks is all the more interesting because right now, there are essentially no mass-produced quantum machines in the world. Experimental samples from Google and IMB and identical Chinese compact prototypes for classrooms exist. All this inspires a certain optimism, but the quantum laptop in every home – a matter of 8-10 years, but pragmatic China is already creating the infrastructure for the future market. It is preparing a springboard for its not unreasonable superiority.
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