NIST Releases First Draft Standards for Post-Quantum Cryptography

NIST Releases First Draft Standards for Post-Quantum Cryptography

The News: On August 24, the National Institute of Standards and Technology (NIST) published the first draft of its standards for post-quantum cryptography. The draft standards follow last year’s selection of four algorithms upon which it would develop its standards for standardizing encryption algorithms that are designed to withstand quantum computing-fueled cyberattacks. Three new algorithms are slated to be ready for use in 2024, with others planned to follow. NIST is requesting community feedback on the draft standards until Nov. 22, 2023. Additional detail is available on NIST’s website.

NIST Releases First Draft Standards for Post-Quantum Cryptography

Analyst Take: Quantum computers are approaching reality – possibly as soon as the next 5 or 10 years – and they represent arguably the most serious emerging threat to data security. While current public-key encryption methods are based on mathematical equations that are difficult for classical computers to solve, quantum computers could crack these problems – in some instances even as quickly as in a fraction of a second. This portends risk to sensitive data ranging from financial transactions to medical records to government secrets, an area that currently relies on encryption as an important means to protection from cyber-attacks. Against this backdrop, quantum-safe encryption methodologies will become necessary for cyber-resiliency.

For its part, NIST is driving standards for encryption algorithms that will be powerful enough to avoid being cracked by quantum computers. In addition to vetting algorithm candidates, NIST will provide technical documentation designed to help organizations with implementing the algorithms into their infrastructure. This ongoing development is important as the reality of quantum computing nears because it will take years for some organizations to update their infrastructure with the new algorithms.

NIST has been working on quantum-safe algorithms for the better part of a decade. It launched its Post-Quantum Cryptography Standardization Project and called for submissions of algorithms in 2016. The 69 eligible algorithms that were submitted from countries across the world were then opened up for vetting, including allowing expert cryptographers to try to crack them. After approximately five years of evaluation, in 2022 NIST selected four algorithms for standardization. It is worth noting that IBM, a leading player in the development of quantum computers, contributed to the development of three of the four algorithms that ended up being chosen.

NIST has now released draft standards for three of those algorithms (CRYSTALS-Kyber, for general-purpose encryption, and CRYSTALS-Dilithium and SPHINCS, both of which are designed for digital signatures). Draft standards for the fourth algorithm, FALCON, which is also designed for digital signatures, are expected to be released in 2024. NIST has also already selected for evaluation a second set of algorithms designed for general encryption. This second set of algorithms will be intended to augment the first, core set of algorithms, in the event that a weakness emerges.

The Futurum Group will be watching the development of the algorithms and standards, as well as how attackers respond. Especially following U.S. President Joe Biden’s signing of the Quantum Computing Cybersecurity Preparedness Act into law, and the National Security Agency (NSA) issuing an order mandating government agencies to ensure all their systems are migrated to the NIST-selected quantum-resistant algorithms by 2035 – both of which occurred in the late fall and early winter of last year – it is clear that large public sector organizations through small-to-midsized businesses will need to be prepared.

Disclosure: The Futurum Group is a research and advisory firm that engages or has engaged in research, analysis, and advisory services with many technology companies, including those mentioned in this article. The author does not hold any equity positions with any company mentioned in this article.

Analysis and opinions expressed herein are specific to the analyst individually and data and other information that might have been provided for validation, not those of The Futurum Group as a whole.

Other Insights from The Futurum Group:

NIST Launches the Trustworthy & Responsible Artificial Intelligence Resource Center

NIST Cybersecurity Framework 2.0 Addresses Growing Cyberattack Threats

Biden Administration Appeals to Big Tech to Raise the Bar on Cybersecurity

Author Information

Krista Case

Krista Case brings over 15 years of experience providing research and advisory services and creating thought leadership content. Her vantage point spans technology and vendor portfolio developments; customer buying behavior trends; and vendor ecosystems, go-to-market positioning, and business models. Her work has appeared in major publications including eWeek, TechTarget and The Register.

Related Insights
Wavestone's EU AI Office Role Turns Regulation Into Revenue
November 14, 2026

Wavestone’s EU AI Office Role Turns Regulation Into Revenue

Wavestone joined a Capgemini-led consortium selected by the EU to assess cyber risks of advanced AI models, validating its dual expertise in cybersecurity and AI while capitalizing on growing compliance...
Credence's DAAS Recompete Win: Defense SLE at Scale
November 14, 2026

Credence’s DAAS Recompete Win: Defense SLE at Scale

Credence secured a recompete award to continue developing the Defense Logistics Agency's DAAS API Gateway on MuleSoft Anypoint, processing 14+ billion transactions annually at Impact Level 5 security....
Commvault Bets That Recovery Is What Lets Enterprises Say Yes to AI
November 13, 2026

Commvault Bets That Recovery Is What Lets Enterprises Say Yes to AI

Fernando Montenegro, Vice President & Practice Lead, Cybersecurity & Resilience at Futurum, Commvault's Recovery Studio positions orchestrated, full-stack recovery as the foundation for enterprise confidence in AI deployment....
Thales and Netcompany Bet on Sovereignty to Win Europe's Cyber Market
November 13, 2026

Thales and Netcompany Bet on Sovereignty to Win Europe’s Cyber Market

Thales and Netcompany partnered to co-develop sovereign AI and cybersecurity solutions for Europe, combining their cortAIx and Feniks AI frameworks to tap a $337.8 billion market by 2029....
KDDI Completes Japan's Defense-Grade Disaster Network
November 12, 2026

KDDI Completes Japan's Defense-Grade Disaster Network

KDDI Corporation completed Japan's defense-grade disaster network with the Maritime Self-Defense Force, establishing contiguous coverage from Hokkaido to Mie Prefecture and validating its resilience-first strategy....
Beam Proves Open-Weight AI Safety and Utility Are Not a Zero-Sum Trade
November 11, 2026

Beam Proves Open-Weight AI Safety and Utility Are Not a Zero-Sum Trade

Reflection's Beam open-weight model proves that rigorous safety design and model utility aren't mutually exclusive. With 89% harmful request refusal and 82% safety-related compliance, Beam reaches the Pareto frontier among...

Book a Demo

Welcome

The vision behind everything in Futurum’s Custom Research practice is this: research should show you what is happening, what comes next, and what to do about it. It should be personal to each audience, easy for people to grasp, and structured so LLMs can reason over it accurately. And it should be fast and turnkey; you want answers now, not another project to carry for quarters.

Whether you are defining business, channel, or go-to-market strategy; evaluating vendors or justifying ROI; or commissioning research to fill an emerging market need, we have your back, with a program that answers your questions with the objectivity and credibility to drive real decisions.

To do it, we bring unmatched data to bear: Futurum research, surveys, and market projections; validated market feeds; ETR’s 15 years of insight from 10,000 technology decision-makers; G2’s buyer and user data; and what our analysts hear every day. Add leading primary collection, from AI-moderated voice interviews to surveys and analyst-led interviews, all turnkey, and every project comes out credible, nuanced, and actionable.

And we don’t just drop the results in your lap. For internal work, we provide analyst-led sessions, interactive dashboards, and a range of formats. For market-facing work, Futurum delivers turnkey activation and amplification that actually gets seen, by people and by LLMs, through our media and share of voice. This is research that moves decisions and markets.

We will meet you wherever you are, from a fast-turn brief to a multi-year program, and shape the work to your goals, timeline, and budget. The right program for your moment.

If any of this is useful, I would love to talk.

Benjamin Brown, VP Custom Research, Futurum Research

Benjamin Brown

VP, Custom Research · The Futurum Group

Newsletter Sign-up Form

Get important insights straight to your inbox, receive first looks at eBooks, exclusive event invitations, custom content, and more. We promise not to spam you or sell your name to anyone. You can always unsubscribe at any time.

All fields are required






Thank you, we received your request, a member of our team will be in contact with you.