- Quantum-safe encryption provider Arqit Quantum Inc ARQQ supported a recent study by Dr. Basel Halak and Dr. Yildiran Yilmaz of Southampton University and Arqit Chief Cryptographer Dr. Daniel Shiu.
- The report named Comparative Analysis of Energy Costs of Asymmetric vs. Symmetric Encryption-Based Security Applications compares the energy consumption between asymmetric and symmetric vital applications.
- The study confirmed that Arqit's technology could reduce the carbon footprints for operationally deployed cryptography.
- Also Read: D-Wave Quantum Shares Pop After Making Way Into AWS Marketplace
- Forecasters (A. Andrae and T. Edler) predict that communication technology will contribute up to 23% of global greenhouse gas emissions in 2030.
- The imminence of the quantum threat requires quantum encryption solutions to safeguard data against this alarming cyber threat.
- While these solutions are needed to protect communication technology, they are also known to be computationally intensive, hence energy demanding.
- The academic study found that the global adoption of symmetric vital systems could save 58% of energy compared to the energy required for asymmetric encryption alternatives.
- Arqit Founder, Chairman, and CEO David Williams said: "Arqit's mission is to keep safe the data of our governments, enterprises, and citizens. The Security Proof published recently demonstrates that Arqit is uniquely well positioned to do this."
- Price Action: ARQQ shares traded lower by 0.95% at $9.41 on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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