Quantum Resistant Ledger (QRL) has appointed Dr. Joseph Kearney as Technical Advisor, responding to what the company calls an “immediate” threat to existing blockchains from quantum computing. A recent Federal Reserve study revealed a present and active danger – “harvest now, decrypt later” attacks – highlighting that current blockchain data is vulnerable and cannot be retroactively secured. Dr. Kearney brings nearly a decade of experience in post-quantum cryptography, building on work including research into Bitcoin’s quantum-safety and the vulnerability of blockchain technologies. “Having worked at the intersection of post-quantum cryptography and blockchain technology for almost a decade, I’ve long admired what QRL set out to do as the first fully post-quantum secure blockchain,” said Dr. Kearney, emphasizing the relevance of QRL’s early vision as quantum computing gains prominence.
Federal Reserve Identifies ‘Harvest Now, Decrypt Later’ Threat
A Federal Reserve study has pinpointed “harvest now, decrypt later” as an existing and active threat to blockchain networks, a revelation that dramatically alters the perceived timeline for quantum-based risks. The analysis determined that currently, there is no viable method to protect data already residing on blockchains vulnerable to quantum computing attacks, effectively meaning information intercepted today could be deciphered once sufficiently powerful quantum computers become available. This shifts the danger from a future possibility to an immediate concern for digital asset security, demanding proactive solutions. The study’s findings coincide with a defining moment for Quantum Resistant Ledger (QRL), as the company prepares for its QRL 2.0 network upgrade. Dr.
QRL 2.0 Integrates Quantum-Safe Ethereum Virtual Machine (EVM)
The current landscape of blockchain security is rapidly evolving, with a growing recognition that existing systems are vulnerable to future quantum computing capabilities. This realization underscores the need for proactive solutions, particularly as cryptographically relevant quantum computers (CRQC) become increasingly viable. Quantum Resistant Ledger (QRL) is responding with QRL 2.0, an upgrade designed to address these vulnerabilities head-on by integrating a quantum-safe Ethereum Virtual Machine (EVM). This integration represents a significant step towards securing the substantial “hundreds of billions of dollars in the EVM economy” by offering a migration path to a quantum-safe infrastructure. Dr. Kearney’s role will focus on maintaining the “technical integrity of the ecosystem” during this transition.
Having worked at the intersection of post-quantum cryptography and blockchain technology for almost a decade, I’ve long admired what QRL set out to do as the first fully post-quantum secure blockchain.
