Quantum attacks could worsen without proof of ownership: Near One

NEAR developers are aiming to implement a quantum-safe signing solution on testnet by the end of the second quarter, Near One’s Anton Astafiev said.

Blockchain protocols preparing for the quantum computing threat should also consider how to quickly verify ownership on the blockchain if funds are stolen, the development and research team behind the layer-1 NEAR Protocol said.

Concerns that quantum computers could eventually break blockchain cryptography have fueled worries about private keys and wallet security, but most of the conversation has focused on preventing such attacks.

“We won’t be able to tell if someone running a transaction is the rightful owner of the asset or not,” Near One’s chief technology officer, Anton Astafiev, said on Wednesday, adding that blockchain protocols would be forced to make tough decisions on whether to freeze compromised crypto wallets.

Read more