Dr. Xinxin Fan, Head of Research and Development at IoTeX, wins ICBC Best Paper Award for his quantum-safe paper, which will be first applied to the IoTeX blockchain network.

Recently, Dr. Xinxin Fan, Head of R&D at IoTeX, co-authored a paper titled "Enabling a Smooth Migration Towards Post-Quantum Security for Ethereum," which won the Best Paper Award at the 2024 International Conference on Blockchain (ICBC 2024).

The paper proposes that hash-based zero-knowledge technology is the most user-friendly way to make the Ethereum network and other similar cryptographic systems quantum secure. This solution will first be applied to the Ethereum and IoTeX blockchain networks.

Dr. Xinxin Fan, Head of R&D at IoTeX, wins

the ICBC 2024 Best Paper Award

How Far Are We from Quantum Attacks?

Concerns about the threat of "quantum attacks" in the crypto industry have been longstanding. The cryptography industry, which is based on computational power, faces the risk of fundamental disruption in the face of the exponential computational advantage of quantum computing. Studies have shown that widely used cryptographic algorithms (such as RSA, DSA, ECDSA) may become insecure in the face of quantum computing, and the development of quantum computing may render these algorithms ineffective in the future.

Although the realization of quantum computing is not likely in the short term and the field of cryptography has been preparing to resist quantum attacks, we cannot ignore the speed of quantum computing development. According to IDC (International Data Corporation), global spending on quantum computing technology (including hardware, software, and as-a-service solutions) will grow from $1.1 billion in 2022 to $7.6 billion in 2027, with a five-year compound annual growth rate (2022-2027) of 48.1%. Some media have pointed out that "the industry growth rate of quantum computing may be second only to blockchain."

In an interview with the well-known media outlet Cointelegraph, Dr. Fan pointed out that for users, a smooth transition to post-quantum security is crucial, as the U.S. National Institute of Standards and Technology (NIST) recently released the first hard deadline for legacy systems to migrate to post-quantum signature standards—recommending institutions to adopt quantum-resistant measures by 2035.

Hash-Based Zero-Knowledge Technology Provides Quantum Security for Ethereum

In the paper "Enabling a Smooth Migration Towards Post-Quantum Security for Ethereum," Dr. Fan proposes that hash-based zero-knowledge technology is the most user-friendly way to make the Ethereum network and other similar cryptographic systems quantum secure. In an interview with Cointelegraph, Dr. Fan explained that the Elliptic Curve Digital Signature Algorithm (ECDSA) currently used in blockchain systems to sign transactions has quantum vulnerabilities. However, by attaching hash-based zero-knowledge proofs—such as Zero-Knowledge Scalable Transparent Arguments of Knowledge (zk-STARKs)—to each transaction, this vulnerability can be addressed.

Researchers state that this approach also ensures a smooth user transition, avoiding the complex operations required by other quantum-resistant methods. Dr. Fan mentioned: "The way we execute this allows users to continue using their current wallets as before, only needing to attach a quantum-secure zero-knowledge proof to each transaction. We need to consider both security and usability." Dr. Fan emphasized that balancing user experience with security needs is key to ensuring a timely migration to post-quantum standards.

Industry Development Needs "Deep Tech"

Although the current industry spotlight is focused on memes, we cannot ignore the foundational force of the crypto industry: technological innovation. From IoT to DePIN, the IoTeX team, dedicated to "connecting the real world," has consistently explored the direction of "deep tech" over the past seven years. As Head of R&D, Dr. Xinxin Fan has led the R&D team to achieve numerous industry-level technological breakthroughs in DePIN, cryptography, and blockchain technology applications.

Under Dr. Fan's leadership, IoTeX has begun a comprehensive upgrade to a modular DePIN infrastructure platform, successively launching key innovative technologies in the DePIN field, including the world's first on-chain identity solution designed for smart devices—ioID, and the W3bstream system, which bridges off-chain computation with real-world and Web3 data channels. These innovations are paving the way for complex "real-world on-chain" scenarios and play a fundamental role in enabling effective development and large-scale application of the DePIN industry.

Technological innovation has always been the industry's core competitiveness. Although it may not produce as visible a driving force as other hot topics during long R&D cycles, it is undoubtedly the solid foundation that determines a project's intrinsic value and keeps it at the forefront of the industry.

About IoTeX

IoTeX is the only decentralized modular IoT infrastructure platform, building a bridge between smart devices, real-world data, and blockchains. IoTeX's data aggregation platform DePINScan provides real-time data on token market cap, transactions, connected devices, and trending news for DePIN projects, covering the $28 billion DePIN ecosystem. As a leading DePIN infrastructure provider, IoTeX facilitates new distribution models for users through device and on-chain/off-chain activity, transforming personal devices into the shared economy and enabling the tokenization of "data from everything." 

IoTeX has a global team of over 60 research scientists and engineers. Combined with its EVM-compatible L1 blockchain, off-chain computing middleware, and open hardware, it can connect billions of smart devices, sensors, and dApps, bridging the physical and digital worlds.

In the first half of 2024, IoTeX secured the largest single-token financing in the DePIN sector, raising $50 million. Its token is now traded on major crypto exchanges including Binance, Coinbase, Upbit, and Crypto.com. 

Explore the IoTeX Ecosystem

• Official website: https://iotex.io 

• W3bstream Official Website:

• On-chain Ecosystem: https://ecosystem.iotex.io/ 

• Staking Portal: https://stake.iotex.io/ 

• Developer Portal: https://developers.iotex.io/

• Developer Guide: https://docs.iotex.io/

• Multi-chain Wallet ioPay:

• Super Cross-chain Bridge ioTube:

• Cross-chain DEX mimo:

• WeChat Official Account: IoTeX Community 

• Blog:

• Youtube:

Recommended Reading

Modular Infrastructure for Verifiable DePIN

IoTeX Ecosystem Panorama: In-depth Analysis of the Explosive Growth of the DePIN Ecosystem

IoTeX 2024 Q3 Major Events Review

If you like IoTeX, give it a "Like"