Quantum computing is reshaping our world and will revolutionize many industries, including materials science, life sciences, transportation, and energy. Google recently demonstrated the power of quantum computers by solving a problem in seconds that today’s supercomputers require nearly 50 years to solve.
There is, however, a dark side to quantum computers. Many experts predict that, within the next 7 to 10 years, quantum computers will break RSA and ECC encryption. RSA and ECC are public key encryption algorithms that underpin the security for virtually all cybersecurity systems, applications, and protocols. They provide security for credit card transactions, online banking, medical devices, connected cars, and many other systems.
There is plenty of time to address this problem; after all we have around a decade before quantum computers can break these algorithms. Companies must start preparing to ensure they are protected once a sufficiently advanced quantum computer has been developed.
Post-quantum cryptography (PQC)
While quantum computers are high-speed at specific problems, they are relatively weak at solving other problems. But, they can quickly factor large prime numbers and solve elliptic curve discrete logarithm problems, allowing them to break RSA and ECC encryption.
NIST, the US National Institute of Standards and Technology, is leading a process to create and standardize new encryption algorithms to replace RSA and ECC. The new algorithms rely on mathematical approaches that are not easily broken by quantum or classical computers. NIST has standardized two algorithms for code signing and has released draft standards for 3 new PQC algorithms for Digital Signature and KEMs/Encryption use cases.
PQC migration urgency
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