Algorand CEO Says Institutions Are Showing More Interest in Quantum Security

Algorand CEO William Herkelrath said institutions are taking more interest in post-quantum security as the network works to extend quantum-resistant protections beyond accounts to other operations.

Algorand added Falcon-1024 account support to its mainnet in August. Falcon is a signature scheme selected by the National Institute of Standards and Technology (NIST).

The upgrade covers accounts, while the network’s verifiable random function still uses elliptic-curve cryptography and consensus signing uses Ed25519. Algorand’s roadmap sets broader quantum resilience as a goal for the end of 2027.

The statement follows Herkelrath’s earlier call for financial firms to plan for post-quantum protections in tokenized markets.