WiMi Hologram Cloud Inc., a leading global Hologram Augmented Reality (“AR”) Technology provider, announced that they are exploring a blockchain privacy protection system based on post-quantum threshold algorithms, aiming to build a blockchain ecosystem that is both secure and efficient.

The core of blockchain is its chain-like data structure, where each block contains three components: transaction data, a timestamp, and the hash of the previous block. This design ensures data integrity and immutability because any modification to the data would change its hash, thereby breaking the continuity of the chain. In blockchain, asymmetric encryption algorithms (such as RSA and ECC) are widely used for data encryption and digital signatures. These algorithms are based on complex mathematical problems, such as large number factorization and discrete logarithms, ensuring the authenticity of transactions and the confidentiality of data. However, the security of these algorithms relies on computational complexity, and the advent of quantum computers, particularly with advancements in quantum parallel computing, poses a risk to the security foundation of these algorithms.

Post-quantum cryptography, as a solution to the threats posed by quantum computing, aims to develop cryptographic algorithms that can withstand quantum attacks. These algorithms include new mathematical constructions such as lattice-based structures, hash functions, and multilinear mappings, which do not rely on the difficult assumptions used in traditional cryptography. As a result, they can maintain security even in a quantum environment. However, the application of post-quantum cryptographic algorithms is not straightforward; they need to meet the requirements of blockchain systems for efficiency, scalability, and decentralization while maintaining security.

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Threshold key sharing technology, as a distributed key management strategy, splits a private key into multiple parts and allocates them to different participants. Only when a sufficient number of participants cooperate can the complete private key be reconstructed, enabling decryption or signing operations. This mechanism not only reduces the risks associated with centralized private key management but also enhances the system’s fault tolerance and security. However, applying threshold key sharing technology to blockchain systems presents several technical challenges, such as ensuring trust and cooperation among nodes, preventing attacks from malicious nodes, and maintaining the system’s scalability.

WiMi’s blockchain privacy protection system, based on post-quantum threshold algorithms, provides a comprehensive security solution for blockchain systems through the deep integration of post-quantum cryptography and threshold key sharing technology. The main technical features of the system include:

Post-Quantum Security: The system uses post-quantum encryption algorithms to ensure that data remains effectively protected even with the widespread use of quantum computers. The security of these algorithms is based on mathematical problems that are difficult for quantum computers to solve, thereby maintaining robust security in a quantum environment.

Distributed Key Management and Fault Tolerance: Through threshold key sharing technology, the system distributes private keys across multiple consensus nodes. The leakage of a single node’s private key will not compromise the security of the entire system. This distributed key management mechanism not only reduces the risks associated with centralized private key management but also enhances the system’s fault tolerance. Even if some nodes are attacked or fail, the system can still operate normally, ensuring the integrity and security of the data.

Flexible Data Authorization and Access Control: The system employs a threshold-based data authorization mechanism. When users request data access permissions from consensus nodes, they must meet certain threshold conditions (e.g., a specific number of nodes must agree). This mechanism ensures controlled access to data while preventing permission abuse caused by single points of failure. Additionally, the system offers fine-grained access control policies, allowing users to set different access permissions and conditions based on their specific needs.

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Efficiency and Scalability: The system design takes into account the high concurrency and scalability requirements of blockchain. By optimizing the consensus algorithm and data processing workflows, the system can achieve efficient data processing and transaction confirmation while maintaining security. Furthermore, the system supports dynamic scalability, allowing the addition of new consensus nodes and data storage nodes as needed, thus meeting the demands of large-scale applications.

Smart Contracts and Decentralized Applications: The system supports the deployment and execution of smart contracts, enabling users to create custom contract logic and rules. The introduction of smart contracts not only enriches the functionality and application scenarios of the system but also promotes the rapid development of decentralized applications. Through smart contracts, users can automate transactions and other applications, further driving the innovation and adoption of blockchain technology.

The blockchain privacy protection system based on post-quantum threshold algorithms, explored by WiMi, not only addresses the security risks of traditional encryption algorithms in the quantum era but also further enhances the security and flexibility of blockchain systems through features such as distributed key management, flexible data authorization and access control, and smart contracts with decentralized applications. As the technology continues to mature and improve, we believe it will play an increasingly important role in protecting user privacy, promoting secure data sharing, and driving blockchain technology innovation and applications. In the future, with the continuous development of quantum computing technology and the widespread adoption of blockchain technology, blockchain privacy protection systems based on post-quantum threshold algorithms will become a significant research direction and development trend in the blockchain field.