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A Quantum-Resistant Blockchain System: A Comparative Analysis

Author

Listed:
  • P. Thanalakshmi

    (Department of Applied Mathematics and Computational Sciences, PSG College of Technology, Coimbatore 641004, India)

  • A. Rishikhesh

    (Department of Applied Mathematics and Computational Sciences, PSG College of Technology, Coimbatore 641004, India)

  • Joel Marion Marceline

    (Department of Applied Mathematics and Computational Sciences, PSG College of Technology, Coimbatore 641004, India)

  • Gyanendra Prasad Joshi

    (Department of Computer Science and Engineering, Sejong University, Seoul 05006, Republic of Korea)

  • Woong Cho

    (Department of Electronics, Information and Communication Engineering, Kangwon National University, Samcheok 25913, Gangwon State, Republic of Korea)

Abstract

Blockchain transactions are decentralized, secure, and transparent, and they have altered industries. However, the emergence of quantum computing presents a severe security risk to the traditional encryption algorithms used in blockchain. Post-quantum signatures are required to preserve integrity and reliability. Furthermore, combining the InterPlanetary File System (IPFS) with blockchain provides a long-term strategy for data storage and sharing. This study investigates the integration of post-quantum signatures with the IPFS in a blockchain system, which can considerably enhance blockchain system efficiency. We increase security and efficiency by recording hash values of signatures and public keys within the blockchain and storing their actual content using the IPFS. The study compares NIST-recommended post-quantum signatures with the ECDSA in a Bitcoin exchange scheme to show how effective the system is in countering quantum threats while maintaining optimal performance. This research makes an important addition to the long-term viability and dependability of blockchain technology in the face of the growing landscape of quantum computing breakthroughs.

Suggested Citation

  • P. Thanalakshmi & A. Rishikhesh & Joel Marion Marceline & Gyanendra Prasad Joshi & Woong Cho, 2023. "A Quantum-Resistant Blockchain System: A Comparative Analysis," Mathematics, MDPI, vol. 11(18), pages 1-19, September.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:18:p:3947-:d:1241683
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