Quantum Computing May Spur Demand for ‘Quantum-Based Blockchain Solutions’
(Decrypt) The threat of quantum computing may actually help demand soar for “quantum-based blockchain solutions.”
The blockchain industry is forecast to grow by $1.52 billion by 2023, with “demand for increased online security” acting as a key driver for incremental demand. Experts speculate that it is precisely the potential “threat to public-key cryptography” from quantum-computing technology that may force “many organizations to develop quantum-based blockchain solutions to enable a more future-proof blockchain technology which cannot be hacked.”
Several blockchain startups have been and are already preparing for the quantum future. Such projects include the QAN platform, which is building a “quantum-resistant” blockchain, or IOTA’s TangleChain, which claims to be secure against post-quantum cryptography.