Quantum Threats: Are Newer Blockchains Truly Prepared for the Future?

Key Points

1. Quantum computers leveraging Shor’s Algorithm could break the cryptographic security of current blockchains by deriving private keys from public keys, threatening blockchain integrity.

2. Older blockchains like Bitcoin and Ethereum use ECDSA, which is directly vulnerable to Shor’s Algorithm, making upgrades complex and risky.

3. Newer blockchains like Sui, Solana, and Near use EdDSA, which, while not quantum-proof, offers easier adaptation to post-quantum cryptographic (PQC) standards.

4. Mysten Labs' study highlights that newer blockchains with modular designs can transition to PQC more smoothly than older networks.

5. The urgency for quantum-resistant cryptography is high, with estimates suggesting quantum threats could materialize by 2030-2035, necessitating proactive preparation.