quantum-proof blockchain - etsi...introduction – bitcoin • an open ledger decentralized anyone...
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Quantum-Proof Blockchain
The project of ABCMint
Jintai Ding
11/2018, ETSI Quantum-Safe Workshop
The story • ABC = Advanced Binary Currency A new quantum-proof blockchain with the Rainbow signature ( A NIST submission) and a new POW based solving set of random polynomial systems. Launched June 18, 2018 • www.ABCMint.org
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Timeline
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The founders Jin Andy Liu and Jintai Ding
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Introduction – Bitcoin
• An open ledger Decentralized Anyone can participate and can verify Good privacy and highly efficient in time • A crypto currency ECDSA, Hash functions
Elliptic curve signature Hash functions for address and POW 3
POW
• Proof of Work – decentralized system • The main purpose is to synchronize a decentralized system; to make an immutable ledger ( too expensive to
alter) • 51% attack Computing power – POW
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Basic Crypto Algorithms 1. Digital Signatures – For authentication. To authenticate transaction with signature
2. Hash Functions – Address of Public key Proof of Work
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Quantum Threat
• Address = Hash (Public Key) and Address is not enough for attack, Hash function is still secure (SHA256)
• But of Public keys are known
Can public key be protected?
• The answer is NO This is due to the nature of the BC: The time to sync = 10m. • The delay allows attack easily using Network
latency + computing power
What can we do?
• 1)Hash The problem of state, limited use, Large key size or large signature. • 2) Multivariate Very large public key but very small signature • 3) Lattice New, and large key size and signature
Our solution
• We have developed new techniques for the solutions with signature with Rainbow.
Public key is recorded and later will only be refereed – very efficient with multiple usage.
POW • POW can not be replaced? I personally do not approve POS Current-problem- Too much power for Asic machine -- Hash function allow lots of optimization • Our New POW -- Solving multivariate
equations Simple to implement and understand, progress meaningful in many ways
Our goals
• Quantum resistant
• Long term Secure
• Truly decentralized system so Asic Machine does not have too much power
Thank you!
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