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Quantum Coin uses NIST standardized post quantum cryptography algorithms for securing the blockchain. Quantum Computers make Bitcoin, Ethereum vulnerable, since they are able to break the cryptography used in these blockchains using Shor's algorithm. Quantum Coin blockchain is resistant to these quantum computer attacks. Quantum Coin also uses post quantum cryprography in hybrid mode, which means that it is also resistant to classical computer attacks.
Using Shor’s algorithm on Quantum Computers, it is possible to break cryptography schemes that current blockchains use. Blockchains such as Bitcoin, Ethereum, Dogecoin are vulnerable to quantum computers in various ways because they use elliptic curve cryptography that can be broken using quantum computers.
Account security will be broken if the underlying cryptography schemes are vulnerable. This means that funds can be withdrawn maliciously and double spend transactions made possible if account security is compromised.
Quantum Resistant cryptography also known as “post quantum cryptography” refers to cryptography algorithms that are resistant to quantum compute-based algorithms. NIST which is a standards body is conducting a program to identify post quantum cryptography algorithms. The finalized candidates from this program will be selected for standardization. Standardization means what software and hardware vendors from around the world will adopt these algorithms in their products, such as operating systems, graphics cards and IOT devices.
Quantum Coin will use these post quantum algorithms to secure accounts as well as inter-node communication. In addition, management, and reporting APIs of the blockchain will also use post-quantum TLS.
quantum resistant blockchain
Read More: https://coinmarketcap.com/currencies/quantumcoin
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