NEO Global Development has announced a research partnership with Arqit, a non-profit community-driven blockchain project that is developing a quantum resistant blockchain ecosystem. The partnership is hoped to “accelerate the pace of R&D on NeoQS” and ensure blockchain communities remain secure in a future dominated by quantum computers.
The Arqit community is based in Singapore, and has been incorporating quantum encryption alongside the unique Proof of Performance consensus protocol. To promote the development and funding of quantum resistant solutions, Arqit created the Post Quantum Research Alliance (PQRA) as an informal collaboration between blockchain communities.
Arqit’s chief executive David Bestwick commented: “As one of the biggest blockchain projects and ecosystems in the world, NEO has an important thought leadership role and we are pleased to be able to share thinking and development with them on the future of quantum-safe blockchain business.”
Quantum computers are able to solve both the integer factorization problem and the elliptic curve discrete logarithm, which are relied on by the RSA and ECC encryption algorithms respectively. As these encryption techniques are the standard for securing digital signatures over blockchain, the development of quantum computers contributes a significant risk to blockchain technology in its current form.
NEO Quantum Safe (NeoQS) is a project dedicated to the development of a lattice-based cryptographic mechanism. It aims to defend against quantum computers through the use of the Shortest Vector Problem (SVP) and the Closest Vector Problem (CVP), which quantum computers cannot solve efficiently.
A link to NGD’s announcement can be found below: