Solana to go Quantum Resistant with FALCON Signatures Despite a Speed Tradeoff

FALCON (to be adopted) vs ECDSA (currently used in Bitcoin, Ethereum, Solana)

The Solana Blockchain developers have adopted a proposal to use FALCON signatures to make its accounts quantum-resistant. However, since FALCON requires larger public and private keys for encryption (1281 bytes vs 32 bytes in ECDSA), the blockchain is slightly slower, as more time is required to verify larger keys.

However, since Solana already has a capacity to process 65k TPS, while it currently processes roughly 4k TPS, the reduction in speed won't be noticeable.

Post-quantum security is necessary for blockchains; otherwise, all public keys can be easily decrypted, allowing attackers to recover private keys and steal crypto. Recently, an ethical hacker already decrypted a 15-bit key through quantum computing.