Solana Bids for Quantum Resistance with Post-Quantum Testnet
The Solana Foundation has partnered with Project Eleven, a post-quantum crypto security firm, to prepare for potential threats from quantum computing. Project Eleven conducted a quantum threat assessment on Solana and developed a post-quantum testnet, claiming that quantum-resistant transactions are both practical and scalable on the Solana network. Post-quantum cryptography typically demands more computational resources than current standards. The US National Institute of Standards and Technology (NIST) endorsed three post-quantum encryption standards in August 2024; performance tests found that these standards are generally more expensive to sign but may offer faster verification than some existing methods. Solana Foundation’s goal is to protect digital assets from quantum risks, a concern increasingly shared within the crypto industry. However, experts are divided on the timeline for quantum computers to threaten current cryptography, with estimates ranging from within the decade to another 40 years. While blockchains like Ethereum can adapt quickly to such changes, Bitcoin’s governance structure may hinder rapid response to quantum risks, potentially leaving older Bitcoin holdings vulnerable.
