Disincentivizing Out-of-Band Attacks & Improving the Efficiency of Post-Quantum Digital Signature Algorithms for Blockchain Systems

Quantum computing and blockchain systems are two emerging technologies of recent years that have the potential to revolutionize business models. The latest advances in quantum computing have a significant impact on the computational efficiency of important algorithms which brings together serious security concerns in cryptography-related technological systems such as blockchains/cryptocurrencies. This emerging quantum technology not only effects cryptocurrency security but also all blockchain-based financial systems such as smart contracts, NFTs, accounting, digital payment systems, and stock exchange systems. Note that Bitcoin is currently being considered as a stock in the financial market and considered as "digital gold" and "cryptography" primitives of all types of blockchains/cryptocurrencies are digital signature algorithms, hash functions, and random-number generators. All of these cryptographic algorithms provide resistance to unauthorized alterations and modifications on the ledger, attainment of consensus, and public verifiability. It should be noted that blockchain/cryptocurrency is a computer software that enables transactions among participants in a peer-to-peer network.