An Alternative Approach to Cryptocurrency Security
May 5, 2021
nickster2407) • April 7, 2021
Gideon Samid, CTO, BitMint
Today s cryptocurrencies are based on cryptographic standards that eventually could be broken via quantum computing, says Gideon Samid of BitMint, which has developed a virtual currency based instead on the concept of quantum randomness.
Samid says relying on algorithmic complexity for cryptography is dangerous because advances in quantum computing could render that approach ineffective. Rather than build more and more complexity and hope that the complexity will withstand an attack, we say don t hinge your security on algorithmic complexity; hinge it on lavish use of randomness, he says.