Cryptographers are in the business of being paranoid, but their fears over quantum computers might be justified. Within the next 10 to 15 years, a quantum computer could solve some problems many millions of times faster than a classical computer and, one day, crack many of the defenses used to secure the internet.

The worst-case scenario is quite bad, says Chris Peikert, associate professor of computer science and engineering at the University of Michigan, who has been studying cryptography for two decades.

That is why Dr. Peikert and hundreds of the worlds top cryptographers are involved in a competition to develop new encryption standards for the U.S., which would guard against both classical and quantum-computing cyberattacks.

This summer, federal officials announced the 15 algorithms that will be considered for standardization, meaning the winners would become a part of the architecture of the internet, protecting peoples sensitive data.

Next, researchers will spend about a year trying to break them to see which ones hold up, and test them to get the best balance of performance and security.

Read this article:
The Contest to Protect Almost Everything on the Internet - The Wall Street Journal