NEO is a globally renowned public blockchain project with a steadily growing ecosystem. As quantum resistance is a core feature and significant aspect of the NEO network, NEO Global Development (NGD) has been pushing forward with relevant research on quantum-proof technology, represented by NeoQS.
Arqit is one of the leading projects in quantum resistant technology. It is now developing a quantum resistant blockchain eco-system for enterprise applications, making modifications on the open source Corda code base and incorporating the unique Proof of Performance Protocol for the first time. Also playing a part is quantum encryption, developed in partnership with a consortium of European companies and universities, and an associated research foundation.
NEO Global Development is officially announcing a partnership with Arqit on quantum resistance research with a shared vision of facilitating blockchain industry development.
Arqit is a non-profit community driven blockchain project based in Singapore. It is developing a quantum resistant blockchain system for enterprise applications, incorporating quantum encryption. Arqit has created the Post Quantum Research alliance (PQRA), and informal collaboration between blockchain communities and organizations. The PQRA will bring together the blockchain industry in a community endeavor to promote, create and fund research into the necessary security techniques required to make blockchain technology resilient to attacks from quantum computers.
The emergence of quantum computers poses a major challenge to RSA and ECC-based cryptographic mechanisms. Quantum computers can solve the integer factorization problem (which RSA relies on) and the elliptic curve discrete logarithm (which ECC relies on) in a very short time. NeoQS (Quantum Safe) is a lattice-based cryptographic mechanism. At present, quantum computers do not have the ability to quickly solve the Shortest Vector Problem (SVP) and the Closest Vector Problem (CVP), which are considered to be the most reliable algorithms to defend against quantum computers.
Peter Lin, director of R&D of NEO Global Development said, “as a pioneer of blockchain technology and one of the biggest blockchain platforms around the globe, it is important to NEO that we remain at the forefront of technology in areas like post quantum cryptography. We are therefore pleased to partner with Arqit and look forward to a collaboration to help to make all blockchain communities safe in a post quantum environment.”
David Bestwick, chief executive of Arqit said, “As one of the biggest blockchain projects and ecosystems in the world NEO has an important thought leadership role and we are pleased to be able to share thinking and development with them on the future of quantum safe blockchain business.”
By establishing the research partnership, PQRA is being strengthened by the involvement of one more major contributor, who in turn will accelerate the pace of R&D on NeoQS and facilitate industry-wide quantum-resistant research. Both NEO and Arqit will extend their collaboration into areas of their interest and promote the development of quantum safe technology in blockchain industry.