For decades now, scientists have been working towards the creation of quantum computers. Right now, we are closer than we have ever been to that destination. However, the power of quantum computing poses a threat to public-key cryptography, the technology that most blockchains and cryptocurrencies use to safely and securely transfer data. Cardano (ADA) is one of the cryptos currently developing methods of safety against quantum.
The Cardano team has decided to create a new type of transaction which will utilize a new, quantum-resistant signature scheme called BLISS. As written on the Cardano Roadmap (https://cardanoroadmap.com/), BLISS “will allow funds to be secured against being stolen even if quantum computers are developed to a level that can break modern elliptic curve cryptography.” What does this mean for Cardano and other cryptocurrencies?
It is a common assumption, especially in the field of blockchain and cryptos, that quantum computers are far from completion. Well, for better and for worse, that assumption is completely false. Solutions to the onslaught of quantum computing will have massive demand and value very soon, in the interest of protecting any transmitted encrypted information. With BLISS 50% complete, it’s clear that Cardano is ahead of the game.
Those who use it will be able to confidently make safe transactions, and that perk will hugely increase the token’s value and popularity. Innovations like these are what set Cardano apart from the rest, and have driven it to eminence. Other currencies need to pick up the pace before the quantum specter catches up.