As reported by Chinese media, the domestic blockchain platform Chainmaker It is built on the basis of advanced technology. Thanks to him, he can withstand the attacks of both conventional and quantum computers.
Blockchain related blocks are linked together using cryptography. An electronic ledger can store data related to transactions for example. Thanks to Chinese technology, it will be possible to secure the transmission of information between financial institutions. As a result, this will increase the security of online transactions.
As with other block chains, here the list of digital records is stored in blocks. All of them include the time and date of the transaction, and updating this list is expected to be difficult to carry out without detection. To perform the transaction, it is necessary to use cryptographic hash functions or complex mathematical problems. It is also possible to get involved in so-called Proof of Work issues that require approval of every previous block to ensure that the list remains secure.
Blockchain technology is mainly used in peer-to-peer networks
The fact that quantum computers can be used to break connectivity based on computational complexity was already known in the 1990s. Technologies in the form of post-quantum cryptography and a quantum key distribution system were to be used as security. China’s participation in the establishment of such security measures is to greatly increase security. As the QuantumCTek president explains, designing a reliable quantum communications network is urgent. The denser the web, the better; The higher the density, the more practical.
Blockchain technology is mainly used in peer-to-peer networks to verify decentralized data, for example, to manage cryptocurrencies. However, things are a little different in China: it includes, among other things, checking contracts or health data. In this context, the described technology is particularly useful and we can expect to use it in this way in the future.
“Infuriatingly humble musicaholic. Problem solver. Reader. Hardcore writer. Alcohol evangelist.”