Introducing the Troika Hash Function Developed by Expert Cryptographers; €200,000 Cryptanalytic Competition Invites Cryptanalysts Worldwide to Evaluate It.
“CYBERCRYPT is delighted to be a part of this ambitious large-scale project for public-ledger based digital payments. We are happy to support IOTA in their quest for the secure digital ecosystem in future IoT applications,” said Andrey Bogdanov, Founder of CYBERCRYPT A/S.
The IOTA Foundation has therefore commissioned CYBERCRYPT, a company that has set industry standards for secure cryptography, to develop a new lightweight hash function suitable for the trinary architecture of the IOTA protocol. The result is Troika, designed to have a significant security margin against cryptanalytic attacks. Developing a new cryptographic primitive is no easy feat and requires time-intensive testing and peer review. With this in mind, IOTA Foundation and CYBERCRYPT are announcing a competition for cryptanalysts to evaluate Troika, with a €200,000 prize pool for breaking round-reduced variants of the Troika hash function. More details on the competition and the Troika reference document can be found here: Troika – a ternary hash function and The Troika cryptanalysis competition
“We are excited about this collaboration with IOTA and have used the latest design principles and our best people to develop this state-of-the art hash function, coined Troika,” said Peter Jerry Sørensen, Chairman of CYBERCRYPT A/S.
The official press release can be found here: IOTA and CYBERCRYPT Announce New Lightweight Trinary Cryptographic Hash Function