Encryption is a method of reinforcing data with numbered bits of information to make it unreadable to everyone except the intended recipient who has a key to read the data. While most governments use AES encryption techniques, they still rely on a centralized key to decrypt the data.
Ankit Singh (a.k.a Aizen) is a professional racecar driver, a former Grand Prix champion and an entrepreneur from India. He is also a reclusive inventor and engineer. Ankit has created a cryptographic algorithm that is based on blockchain and is a variant of Pollard’s-Rho Cipher. This algorithm is more secure, efficient, and powerful than standard AES encryption.
For context, National Security Agency uses 256-bit AES and this new algorithm is 2 times faster and 1.7 times more secure. The new cipher is then put on blockchain to ensure safe delivery and decryption since there is no single person or entity that holds the key rather the decentralized nodes.
When electronic data is transferred over a network, it goes through a “secret” key that only the recipient has for decryption. If the key is made publicly available, the message could be decrypted by anyone who has the key. In the past 10 years, there have been over 300 data breaches that have resulted in theft of almost 100,000 records. The solution that this new cipher employs is by deploying it on a blockchain network, so the key itself is decentralized enough that nobody can access it except the blockchain’s intended recipient and the message is not intercepted. This is based on a flavor of Elliptic Curve Cryptography and is one of the most difficult method to implement encryption-decryption of data.
“A secure cyberspace is necessary especially when we are getting hacked left and right.. look at the blue giant… if you know what I mean and their security flaws. I respect privacy and it is important that our data is protected… sometimes even the governments inadvertently intrude it!” – Mr. Singh
This is not the first time Aizen has worked in the field of cybersecurity. He has authored a book on Hacking and has worked on projects in collaboration with Stanford University in the past. He is a member of International High IQ Society and International Honor Society of Computer Science. You can find this gregarious tweetheart on IG: @aizen00x | Twitter: @imKai_Ankit