Near One Warns Quantum Threats Risk Asset Ownership Verification Crisis

According to Anton Astafiev, chief technology officer at Near One, blockchain networks preparing for quantum computing threats must establish reliable ownership verification mechanisms, or risk a “wild west” scenario when stolen funds move onchain. Astafiev noted on Wednesday that the industry has focused on preventing quantum-related cryptographic attacks but overlooked what happens once private keys are compromised, leaving protocols unable to distinguish rightful asset owners from attackers.

Near One is developing a post-quantum-safe signing system for its layer-1 network, which currently secures over $137.6 million in user funds. The team suggested zero-knowledge proofs could enable rightful owners to demonstrate knowledge of original seed phrases without exposing sensitive information. FIPS-204, a US National Institute of Standards and Technology-approved signature scheme, is expected to deploy on testnet by the end of Q2.