THE QUANTUM INTELLIGENCER

Quantum-Safe Blockchain: IoTeX Researcher Wins Award for Ethereum Post-Quantum Security Solution Using Hash-Based Zero-Knowledge Technology In Plain English: This research addresses the future threat of quantum computers breaking the security systems that protect blockchain networks like Ethereum. The team developed a method that adds an extra security layer to transactions, making them safe from quantum attacks while keeping the user experience simple. This matters because as quantum computers become more powerful, they could potentially break current security systems, putting trillions of dollars in cryptocurrency at risk, and this solution provides a practical way to upgrade security without requiring users to change how they interact with blockchain networks. Summary: Dr. Xinxin Fan, Head of R&D at IoTeX, co-authored a paper titled "Enabling a Smooth Migration Towards Post-Quantum Security for Ethereum" that won the Best Paper Award at the 2024 International Conference on Blockchain (ICBC 2024). The research addresses the critical vulnerability of blockchain systems to future quantum computing attacks, particularly targeting the Elliptic Curve Digital Signature Algorithm (ECDSA) currently used by Ethereum and similar networks. The paper proposes using hash-based zero-knowledge technology, specifically Zero-Knowledge Scalable Transparent Arguments of Knowledge (zk-STARKs), as the most user-friendly approach to achieving quantum security. This solution allows users to continue using their existing wallets while simply attaching a quantum-secure zero-knowledge proof to each transaction. The approach balances security needs with usability, addressing NIST's recommendation for institutions to adopt quantum-resistant measures by 2035. The research comes amid growing concerns about quantum computing's threat to classical cryptography, with global quantum computing spending projected to grow from $1.1 billion in 2022 to $7.6 billion in 2027. The solution will first be applied to both Ethereum and IoTeX blockchain networks, representing a significant advancement in preparing blockchain infrastructure for the post-quantum era. Key Points: - Dr. Xinxin Fan won ICBC 2024 Best Paper Award for quantum security research - Paper proposes hash-based zero-knowledge technology for post-quantum Ethereum security - Current ECDSA algorithm used in blockchain has quantum vulnerabilities - Solution uses zk-STARKs to add quantum-secure proofs to transactions - Users can continue using existing wallets with minimal changes - NIST recommends quantum-resistant migration by 2035 - Global quantum computing spending growing at 48.1% CAGR (2022-2027) - Solution balances security requirements with user experience - Will be implemented first on Ethereum and IoTeX networks - Quantum computing poses fundamental threat to current cryptographic systems Notable Quotes: - "The way we execute this allows users to continue using their current wallets as before, only needing to attach a quantum-secure zero-knowledge proof to each transaction." - Dr. Xinxin Fan - "We need to consider both security and usability." - Dr. Xinxin Fan - "The industry growth rate of quantum computing may be second only to blockchain." - Media analysis cited in article Data Points: - ICBC 2024: International Conference on Blockchain where paper won Best Paper Award - 2035: NIST deadline for quantum-resistant migration - $1.1 billion: Global quantum computing spending in 2022 - $7.6 billion: Projected global quantum computing spending in 2027 - 48.1%: Five-year compound annual growth rate for quantum computing (2022-2027) - $50 million: IoTeX's funding raised in first half of 2024 - 60+ research scientists and engineers in IoTeX global team - $28 billion: DePIN ecosystem market size referenced Controversial Claims: - Hash-based zero-knowledge technology is presented as "the most user-friendly way" to achieve quantum security, which may be debatable compared to other post-quantum cryptographic approaches - The article strongly positions IoTeX as a "leading DePIN infrastructure provider" despite the relatively niche nature of DePIN applications - Claims about quantum computing's imminent threat timeline could be considered speculative given the current state of quantum technology development - The assertion that technological innovation is "undoubtedly the solid foundation that determines a project's intrinsic value" presents a particular viewpoint on cryptocurrency valuation Technical Terms: - Post-quantum cryptography/security - Hash-based zero-knowledge technology - zk-STARKs (Zero-Knowledge Scalable Transparent Arguments of Knowledge) - ECDSA (Elliptic Curve Digital Signature Algorithm) - Quantum attacks/quantum vulnerabilities - Modular DePIN infrastructure - On-chain identity (ioID) - W3bstream system - EVM-compatible L1 blockchain - Off-chain computing middleware