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NIST Calls Development of Quantum-Proof Encryption Algorithms

NIST Calls Development of Quantum-Proof Encryption Algorithms

Dec 22, 2016
Quantum Computers – Boon or Bane? Quantum computers can perform operations much more quickly and efficiently even with the use of less energy than conventional computers, but that's bad news for encryption — a process which scrambles data according to a massively complex mathematical code. In theory, quantum computers can break almost all the existing encryption algorithms used on the Internet today due to their immense computing power. Quantum computers are not just in theories; they're becoming a reality. With countries like China that holds the top two position in the world's most powerful supercomputers (Sunway TaihuLight and Tianhe-2), followed by the United States' Titan, the day is not far when Quantum computers will work on an industrial scale. Although it's hard to move quantum computing to an industrial scale, it has become a matter of concern for the United States' National Institute of Standards and Technology (NIST) over the fact that
Satoshi Nakamoto - The Mysterious Bitcoin Creator finally identified in California

Satoshi Nakamoto - The Mysterious Bitcoin Creator finally identified in California

Mar 06, 2014
' Satoshi Nakamoto ', the mysterious founder and creator of the biggest digital cryptocurrency ' Bitcoin ' has reportedly been unmasked as a 64-year-old father of six living in Temple City, Southern California. Satoshi Nakamoto introduced Bitcoin to the world in 2008, but his identity has remained unknown. Till now, there was speculation that he might be a rebellious young programmer based in Tokyo, who took up the Nakamoto moniker as an alias. B ut t he most astonishing thing about this Japanese-American man is that, his real name is Satoshi Nakamoto , who has been finally identified by Newsweek magazine . Newsweek journalist, Leah McGrath Goodman also had a face-to-face meeting with Satoshi Nakamoto, and during an interview he said, " I am no longer involved in that [Bitcoin] and I cannot discuss it, " he said. " It's been turned over to other people. They are in charge of it now. I no longer have any connection. " and even he kep
Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Cybersecurity Tactics FinServ Institutions Can Bank On in 2024

Feb 14, 2024Financial Security / Cyber Threats
The landscape of cybersecurity in financial services is undergoing a rapid transformation. Cybercriminals are exploiting advanced technologies and methodologies, making traditional security measures obsolete. The challenges are compounded for community banks that must safeguard sensitive financial data against the same level of sophisticated threats as larger institutions, but often with more limited resources. The FinServ Threat Landscape Recent trends show an alarming increase in sophisticated cyber-attacks. Cybercriminals now deploy advanced techniques like deep fake technology and AI-powered attacks, making it increasingly difficult for banks to differentiate between legitimate and malicious activities. These developments necessitate a shift towards more sophisticated and adaptive cybersecurity measures. Take these industry statistics, for example. Financial firms report 703 cyberattack attempts per week.1 On average, 270 attacks (entailing unauthorized access of data, appl
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