Algo Consulting, Inc. (20240380606). QUANTUMPROOF BLOCKCHAIN simplified abstract

QUANTUMPROOF BLOCKCHAIN

Organization Name

Algo Consulting, Inc.

Inventor(s)

Jintai Ding of Cincinnati OH (US)

Yangxing Ding of Cincinnati OH (US)

QUANTUMPROOF BLOCKCHAIN - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240380606 titled 'QUANTUMPROOF BLOCKCHAIN

The abstract discusses the impact of quantum computing on blockchain technology and provides solutions to address security vulnerabilities that could be exploited by a quantum attacker.

• Blockchain technology and bitcoins are key innovations for decentralized applications.
• Quantum computing poses a threat to the security of blockchain systems.
• Effective solutions are proposed to mitigate security vulnerabilities in blockchain-based systems.
• The solutions aim to protect against potential attacks by quantum computers.
• The patent application focuses on enhancing the security of blockchain technology in the face of quantum computing advancements.

Potential Applications: - Securing transactions in blockchain networks - Enhancing the privacy and confidentiality of data stored on a blockchain - Safeguarding sensitive information from quantum attacks

Problems Solved: - Addressing security vulnerabilities in blockchain systems - Protecting against potential threats posed by quantum computing - Ensuring the integrity and authenticity of data on a blockchain

Benefits: - Improved security for blockchain-based systems - Enhanced protection against quantum attacks - Increased trust and reliability in blockchain technology

Commercial Applications: Title: Quantum-Resistant Blockchain Security Solutions Description: This technology can be utilized by financial institutions, healthcare providers, and other industries that rely on secure transactions and data storage.

Questions about Quantum-Resistant Blockchain Security Solutions: 1. How does quantum computing impact the security of blockchain technology? 2. What are the key benefits of implementing quantum-resistant security solutions in blockchain systems?

Frequently Updated Research: Stay informed about the latest advancements in quantum computing and blockchain security to ensure the continued effectiveness of the proposed solutions.

Original Abstract Submitted

bitcoins and the underlying blockchain technology are one of the main innovations in building decentralized applications. the effects of quantum computing on this technology are analyzed in general. provided herein are effective solutions to address security vulnerabilities in a blockchain-based system that can be exploited by a quantum attacker.