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Blockchain Technology Could Be Set for Major Security Boost

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A representation of blockchain.

The Inter-American Development Bank, Cambridge Quantum, and the Monterrey Institute of Technology have identified as well as resolved several potential threats to blockchain networks posed by quantum computers.

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A team of researchers at Latin American/Caribbean development financing outfit Inter-American Development Bank (IDB), U.K.-based quantum computing company Cambridge Quantum (CQ), and Mexico's Monterrey Institute of Technology (TEC) has strengthened blockchain networks against potential quantum-computing threats.

The researchers engineered a post-quantum cryptographic layer, developed on the IDB Lab's Ethereum-based LACChain Besu blockchain network.

During testing, quantum-proof keys from CQ's IronBridge platform, which generates certified entropy using quantum computers, protected transactions and communications.

Said the IDB Lab's Irene Arias Hofman, "The knowledge of the IDB team, together with CQ and TEC, in both quantum and blockchain technologies, has made it possible to achieve a fundamental milestone to guarantee the future integrity of LACChain."

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