JPMorgan study: how quantum resistant blockchain network works

Monday 21 February 2022 12:28 CET | News

Investment banking company JPMorgan Chase has announced it completed research on a quantum key distribution (QKD) blockchain network that fights against quantum computing attacks.

According to the company, QKD represents the only solution mathematically proven to defend against potential quantum computing-based attacks. The new tech uses quantum mechanics and cryptography to allow two parties to securely exchange data while detecting and defending against third-party malicious attacks. The new solution might become a viable defense against potential blockchain hacks conducted by quantum computers in the future.

The study was conducted for use in metropolitan areas and received the help of Toshiba and Ciena into deploying and testing the QKD blockchain. 

JPMorgan Chase continues its work in the blockchain and cryptocurrency field, with Cointelegraph announcing the US-based company became the first bank to have an official presence in the metaverse that now offers a virtual lounge.

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Keywords: JP Morgan, metaverse, online bank, blockchain, cryptocurrency, bot attacks, quantum computing
Categories: DeFi & Crypto & Web3
Companies: JPMorgan Chase
Countries: United States
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