Self-Sovereign Identity and Quantum Encryption
Closer to a simple and efficient method of quantum encryption
Banks and government departments are already investing heavily in quantum encryption that relies on laser beams. However, laser beams often release several photons at once or none at all. A team at Hebrew University developed a system that uses fluorescent crystals. A laser beam shone at these quantum dots causes them to fluoresce and emit a stream of single photons.
Quantum computers will revolutionize our computing lives. For some critical tasks they will be mind-bogglingly faster and use much less electricity than today’s computers. However, and here’s the bad news, these computers will be able to crack most of the encryption codes currently used to protect our data, leaving our bank and security information vulnerable to attacks. It would take a regular computer billions of years to break one of those codes.
Read the full article here: https://phys.org/news/2021-11-closer-simple-efficient-method-quantum.html
New methods of encryption that rely on the laws of physics can improve security
Quantum Encryption improves online security but there will always be vulnerabilities. The email address is one weak link to online security of Self-Sovereign Identity. Now online authentication that leverages both quantum computing and the blockchain can offer a safe and transparent alternative to traditional email authentication methods.
The future of Decentralized Autonomous Organization (DAO) has arrived and blockchain will completely innovate how we operate virtual corporations and how we protect private user data with Quantum Encryption Security.
Stellar for example, is a decentralized blockchain network that operates on an open membership concept. Lumen (XLM), the native cryptocurrency, is a top 10 cryptocurrency by market capitalization. As a result there are many trust network nodes.
The peculiarity of Stellar stems from its consensus protocol, Federated Byzantine Agreement (FBA), which is a variation of Byzantine Agreement with open membership.
The system’s security is provided by nodes establishing a trust network. In comparison to proof-of-work-based consensus algorithms, SCP allows transactions to be finalized in a matter of seconds and is secure against adversaries with enormous quantum processing power.
Although Stellar does not support Turing-complete smart contracts, it enables the creation of complicated transactions that constitute a subset of simple smart contracts. With these new protocols we can solve almost any security challenge.