Saturday, February 24, 2024

The day everyone talks about Algorand won't be far! Are you ready?

Apple just announced quantom-secure messaging in iMessage. The large high tech companies actually started to take quantum resiliency seriously for quite a while. For example Google started upgrading several key internal network protocols to post-quantum in 2021. These upgrades and global rollouts aren't cheap, in fact they are quite expensive to get done and aren't definitely a PR move for a low probability event. These companies know very well that the possibility of using quantum computers in the near future even in their very primitive form in order to hack existing systems is very real.

Although Algorand is not yet fully post-quantum it is by far ahead of any other crypto project and has a concrete plan and timeline for achieving that. Chris Peikert , the head of cryptography at Algorand Technologies, is a pioneer scientist in this field, who is actively working on making Algorand post-quantum. In a recent post on X, he says all you need to know:

Roses are red

Of this I am sure

My love for you

Is post-quantum secure

Now imagine a day that there is news about a small hack, even experimental, using quantum computers. Or a tiny transaction was made from one of Satoshi addresses with ~1M bitcoins. How would you feel at that moment if you own bitcoin, ethereum or any other crypto? What would you do immediately? The crypto community pretty much ignores all warnings about quantum computers today and in the best case they claim that the problem will be dealt with when needed! Well, that would likely be too late.

On that particular day everyone will talk about Algorand and would love to have a small piece of that. You probably don't want to wait until that near but unknown day. Get ready now!


No comments:

Post a Comment