Quantum-Proof Blockchain

The project of ABCMint

Jintai Ding

11/2018, ETSI Quantum-Safe Workshop

The story •  ABC = Advanced Binary Currency A new quantum-proof blockchain with the Rainbow signature ( A NIST submission) and a new POW based solving set of random polynomial systems. Launched June 18, 2018 •  www.ABCMint.org

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Timeline

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The founders Jin Andy Liu and Jintai Ding

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Introduction – Bitcoin

•  An open ledger Decentralized Anyone can participate and can verify Good privacy and highly efficient in time •  A crypto currency ECDSA, Hash functions

Elliptic curve signature Hash functions for address and POW 3

POW

•  Proof of Work – decentralized system •  The main purpose is to synchronize a decentralized system; to make an immutable ledger ( too expensive to

alter) •  51% attack Computing power – POW

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Basic Crypto Algorithms 1. Digital Signatures – For authentication. To authenticate transaction with signature

2. Hash Functions – Address of Public key Proof of Work

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Quantum Threat

•  Address = Hash (Public Key) and Address is not enough for attack, Hash function is still secure (SHA256)

•  But of Public keys are known

Can public key be protected?

•  The answer is NO This is due to the nature of the BC: The time to sync = 10m. •  The delay allows attack easily using Network

latency + computing power

What can we do?

•  1)Hash The problem of state, limited use, Large key size or large signature. •  2) Multivariate Very large public key but very small signature •  3) Lattice New, and large key size and signature

Our solution

•  We have developed new techniques for the solutions with signature with Rainbow.

Public key is recorded and later will only be refereed – very efficient with multiple usage.

POW •  POW can not be replaced? I personally do not approve POS Current-problem- Too much power for Asic machine -- Hash function allow lots of optimization •  Our New POW -- Solving multivariate

equations Simple to implement and understand, progress meaningful in many ways

Our goals

•  Quantum resistant

•  Long term Secure

•  Truly decentralized system so Asic Machine does not have too much power

Thank you!

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