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Cybersecurity pioneer BOLTS has announced the launch of a pilot program to experiment with bringing quantum-resilience to the Canton Network, the blockchain for institutional finance.
The pilot will explore how QFlex — BOLTS’ quantum-resilient software product that addresses the complexities around fortifying blockchain networks against Q-Day — could potentially bring quantum-resistant transaction assurance to Canton Network.
Q-Day refers to a time in the future when a cryptographically relevant quantum computer (CRQC) overrides current cryptography using Shor’s algorithm, thus jeopardizing digital safety. Canton Network is making post-quantum cryptography (PQS) a major focus since the EU’s introduction of PQS 2030 to ensure that systems are fortified against quantum attacks.
Processing over $4T in repos monthly, Canton Network has an extensive roster of institutional ecosystem participants and is a public, permissionless blockchain purpose-built for institutional finance. Commenting, Bernhard Elsner, Chief Product Officer of Digital Asset, said,
“We’re excited to explore QFlex’s promise of allowing sub-networks to enable flexible, user-controlled use of a wide range of cutting-edge cryptographic algorithms without code-changes. This would further strengthen the Canton Network’s cryptographic agility and position it well to seamlessly support stakeholders adopting rules like DLT 2030 and beyond.
Also commenting, Yoon Auh, CEO of BOLTS, said:
“We are proud that our proven expertise and technology are in this pilot test with Canton Network. This collaboration represents a meaningful step in our mission to deliver durable, future-ready security infrastructure solutions for institutions operating on distributed ledger platforms. QFlex gives assurance to the industry that Q-Day fears can be overcome efficiently today, with a clear path to becoming quantum-ready. The industry can no longer delay this, given the trillions of dollars in institutional digital assets at stake. With Canton Network supporting over $6 trillion in on-chain real-world assets, this pilot will have a significant impact on the industry.”
Able to deliver cryptographic agility at the transaction level, QFlex empowers each asset owner to respond to new threats in real time on their next transaction, unlike existing static or hybrid-algo solutions. The product was built on the Structured Data Folding with Transmutations (SDFT) protocol, which gives it its superior performance.
Source: https://zycrypto.com/canton-network-hosts-bolts-pilot-to-secure-6t-assets-against-quantum-threats/
