Quantum Attacks on Blockchain and Mitigation Strategies

While blockchain technologies represent a huge leap forward in the development of secure and decentralized systems, the emergence of quantum computing could pose challenges to this progress. The basic mechanism behind blockchain technology is a form of secure cryptography based on two enormous prime numbers-simple, yes, but certainly not easy-whose product is also a very large number. This is a simple multiplication for a quantum computer, and in our near future, we could crack the kind of encryption that secures blockchain using a quantum computer.