Quantum-Resistant Cryptography to Prevent from Phishing Attack Exploiting Blockchain Wallet

Blockchain technology is a way to maintain a decentralized and distributed digital ledger that allows multiple parties to maintain a shared database without the need for a central authority. Common application areas of blockchain where security is a significant concern are cryptocurrency, supply chain management, financial services, healthcare, voting systems, and intellectual copyright protection. But, attackers are exploiting phishing attacks to impersonate the blockchain wallet by tricking novice users. Phishing is one of the top ten attack scenarios to mimic the user by taking him in confidence as a legitimate one to reveal their private keys, seed phrases, and login credentials. Users can protect themselves from phishing attacks and their consequences by adopting or following best practices such as verifying the authenticity before taking any action, being cautious of hyperlinks, using secure website connections, enabling two-way authentication, raising awareness. But, due to the human nature of forgiveness and a lack of knowledge, users are still exploited by phishing attacks. Service providers are also responsible for managing secure transactions and protecting novice users from any fraudulent attack, including phishing. Quantum computing can contribute to strong security and prevent users from phishing attacks that target blockchain wallets. Potential methods of quantum computing to secure against phishing attacks include quantum cryptography, quantum-resistant cryptography, quantum random number generation, enhanced digital signatures, and public key infrastructure (PKI). Additionally, quantum-resistant cryptography can contribute specifically to preventing phishing attacks by providing secure key generation, robust authentication, resilient encryption, etc. Blockchain is a decentralized, immutable, and transparent technology, while the properties of quantum computing are quantum entanglement, quantum superposition, and quantum parallelism. Blockchain and quantum computing, both technologies, have the potential to bring significant advancements in securing against phishing attacks, irrespective of challenges and opportunities. Implementing quantum-resistant cryptography in blockchain networks would help mitigate the potential risks of quantum computing. Hence, the quantum-resistant cryptography method is proposed in this chapter to prevent phishing attacks that may exploit blockchain wallets.