Ripple Publishes Math Professor’s Cautionary Statement: Public-Key Cryptography Replacement Advocated
David Schwartz: Public-Key Infrastructure is Flawed
Ripple published a blog on December 18, 2023, featuring a guest post by David Schwartz, Ripple’s CTO, and a well-respected figure in the field of mathematics. Schwartz is known for his work in cryptography and distributed ledger technology. In the blog, Schwartz makes a bold statement, advocating for the replacement of public-key cryptography, which is currently the backbone of most blockchain security mechanisms.
Schwartz on Public-Key Cryptography
Schwartz suggests that public-key cryptography is inherently flawed: “Public-key cryptography is based on the assumption that factoring large numbers is computationally infeasible. However, the advent of quantum computing has put this assumption into jeopardy.”
Quantum Computing Threat
Schwartz highlights the threat posed by quantum computing: “Quantum computers have the potential to break public-key cryptography. This would compromise the security of all blockchain networks that rely on it.”
Schwartz on Practical Solutions
Distributed Private Key Infrastructure
Schwartz proposes a paradigm shift in cryptographic infrastructure. He advocates for the adoption of a distributed private key infrastructure: “A distributed private key infrastructure would eliminate the single point of failure that exists in public-key cryptography.”
Multi-Party Computation
Schwartz also discusses the potential of multi-party computation (MPC): MPC allows multiple parties to compute a function on their private inputs without revealing those inputs to each other.
This could be used to create a decentralized key management system that is resistant to quantum computing attacks.
Conclusion
Schwartz concludes by emphasizing the urgency of addressing these issues: “The threat posed by quantum computing to public-key cryptography is real and imminent. We need to start planning for the future now, before it’s too late.”
Schwartz’s call for action has sparked a lively discussion within the blockchain and cryptography communities. It remains to be seen whether his proposed solutions will gain traction or alternative approaches will emerge. Nevertheless, his perspective provides valuable insights into the potential risks and opportunities posed by quantum computing for blockchain security.
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