Quantum computers could potentially break the encryption standards that secure blockchain systems, and it is time for the Web3 community to be prepared.

As the host of Post-Quantum Blockchain Day, Abelian’s vision for the conference is to gather the brightest minds in the world to address the cybersecurity risks that quantum computing brings to existing encryption systems, the traditional financial sector, and Web3 ecosystems.

Before co-founding Abelian, Dr. Duncan Wong was a university professor who has researched cryptography for more than 20 years. We were honoured to have gained insights from Dr. Wong through a keynote speech, an in-depth panel discussion with cryptography experts, and a fireside chat.

During Dr. Wong’s keynote presentation, he introduced the Abelian post-quantum blockchain system and QDay, its scalable Layer-2 solution. Dr. Wong emphasised the importance of preparing blockchain systems for the quantum era while addressing key challenges like privacy and scalability. He also shared exciting news about upcoming ABEL staking and the live launch of the QDay network.

"In 2017, in the beginning, we thought of making proposals to the Bitcoin network. As cryptographers, we would like to contribute to the industry by making Bitcoin more secure and more decentralized. If we wanted to introduce a lattice-based signature scheme into Bitcoin, a soft fork would be needed, and a hard fork was needed to include other privacy features. A new foundation was built with security and privacy features to support other chains in becoming post-quantum."

KEYNOTE: The Post-Quantum Blockchain Journey

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Following his keynote presentation, Dr. Wong moderated a panel which featured esteemed cryptography experts Prof. Guomin Yang and Prof. Huaxiong Wang. The discussion centred around the challenges and advancements in quantum-resistant cryptography, the implications for blockchain systems, and the practical approaches to building secure, post-quantum blockchain solutions.

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"Back in 2016, the National Institute of Standards and Technology initiated a process to standardize post-quantum cryptography. After eight years of work, the NIST released the first finalized post-quantum encryption standards. Kyber, Falcon, CRYSTALS-Dilithium are lattice-based, and then there’s a hash-based digital signature scheme. The NIST is having a very prudent exercise to make sure those algorithms that we are using are really secure. We expect to have maybe a few more algorithms that will be post-quantum encryption standards."

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PANEL: Cryptographers’ Chat: Post-Quantum Cryptography & Privacy-Enhancing Technologies

During the fireside chat with DigFin’s Jame DiBiasio, Dr. Wong shared his insights on the intersection of quantum computing, privacy, and the future of blockchain technology. The conversation focused on Abelian’s vision for post-quantum blockchain, privacy-enhancing features, and its role as a foundation for future blockchain applications.

"There are tens of thousands of GPU cards mining Abelian right now, and the number is growing. We have exchanges supporting us as well. It’s all about the concerted effort to build the Abelian ecosystem, for which the unique proposition is all about quantum resistance as well as privacy-preserving."

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FIRESIDE CHAT: Quantum Threats, Privacy, and the Future of Bitcoin: Abelian’s Vision for a Post-Quantum World

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The Abelian team appreciates all participants, co-hosts, and sponsors for making the inaugural Post-Quantum Blockchain Day 2024 a successful event. We hope all participants made valuable connections and learned more about post-quantum cryptography and its importance for the long-term security of traditional finance systems and existing blockchain networks.