How do quantum computers threaten smart contract execution and digital signatures?

Quantum computers pose a threat to smart contract execution and digital signature integrity by breaking the mathematical algorithms used in digital signatures, such as RSA or Elliptic Curve Digital Signature Algorithm (ECDSA). By calculating the private key from the public key, an attacker can forge digital signatures and create fraudulent transactions. In the context of smart contracts, an attacker could create a fraudulent transaction that appears valid and signed by an account owner, thereby transferring ownership of the account or accessing its funds. Similarly, in digital signature forgery, an attacker could create a fraudulent message or transaction that appears to be signed by a legitimate sender, enabling them to steal funds or access sensitive information. Adopting quantum-resistant cryptography, such as the technology offered by Qrypt, secures data against quantum computing threats, ensuring the integrity of smart contracts and digital signatures.


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