Solana has launched Winternitz Vault, a quantum-resistant security solution that uses a hash-based signature system to protect user funds.

Solana Winternitz Vault is currently an optional feature. According to
Decrypt, #Solana developers have implemented Solana Winternitz Vault to protect user funds from quantum computing attacks.
Solana Winternitz Vault provides additional protection against more advanced computational attacks by utilizing a hash-based signature scheme and creating a new key for each transaction.
Quantum Computers pose a significant risk to #blockchain technology, especially in terms of breaking the cryptographic algorithms that protect digital wallets. In conventional blockchain systems, public keys are revealed during transactions, which could theoretically be used by quantum computers to reverse engineer private keys. Solana's
solution solves this problem with a system that creates 32 private key scalars, each hashed 256 times to create a secure #public key. Instead of storing the full public key, only the hash is stored for verification. After each transaction, the vault automatically creates a new key, further reducing risk.
The Solana Winternitz Vault is currently optional and is not included in some network-wide security updates. In order for users to take advantage of quantum-resistant security, they must choose to store their funds in the Winternitz Vault instead of the standard Solana Wallet. As this feature remains a freely available solution, there is no indication that a network fork will occur as a result of this development.
Quantum-resistant cryptography is nothing new: back in 2019, renowned cryptographer David Chaum launched the Praxxis project. He launched a blockchain project called Praxxis that aims to combat quantum threats, but focuses on scalability, privacy, and security.
Read us at: Compass Investments
#BlockchainFuture #MarketInsights