Xinhua News Agency, Canberra, October 2 (Reporter Yue Dongxing Bai Xu) The Australian Commonwealth Scientific and Industrial Research Organization recently issued a communique stating that personnel from the organization and other scientific research institutions have developed “the world’s most efficient blockchain protocol.” It can resist attacks from quantum computers and protect the privacy of users and their transactions.
According to the communique, the protocol developed this time is called MatRiCT, which is a set of rules governing the operation of blockchain networks.
Blockchain technology has the characteristics of being unforgeable, decentralized, keeping traces throughout the process, and open and transparent. Bitcoin and other cryptocurrencies based on blockchain technology are vulnerable to attacks from quantum computers. This is because quantum computers can perform complex calculations and process large amounts of data to destroy the blockchain, and their speed is much faster than current computers.
This new blockchain protocol introduces three new key features: the shortest quantum secure ring signature scheme to date, which uses only signatures to authenticate activities and transactions; and the “zero-knowledge proof” method for hiding Sensitive transaction information; auditable function, can help prevent illegal use of cryptocurrency.
Project participant Ron Steinfeld said that the new protocol aims to solve the inefficiencies in previous blockchain protocols, such as complex authentication procedures, which speeds up computing efficiency and reduces energy consumption, thereby saving a lot of costs .
The communiqué stated that the technology can also be applied to areas other than cryptocurrency, such as digital health, finance and government services.
