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How long until this can derive a private key from its public key in the cryptocurrency space? Is this an existential threat to crypto?
by sizzle 2y ago
How long until this can derive a private key from its public key in the cryptocurrency space? Is this an existential threat to crypto?
- bawolff 2y agoLong enough you don't need to panic or worry. Short enough that its reasonable to start r&d efforts on post quantum crypto.
- sizzle 2y agoIs there a way to fork and add a quantum-proof encryption layer on the existing cryptocurrency paradigm i.e. Bitcoin 2.0?
- bawolff 2y agoYou could replace ECDSA with a post quantum algorithm. Keep in mind that many crypto primitives are safe, so there are large parts of bitcoin where you don't have to do anything. Digital signatures is going to be where the main problem is for bitcoin. But thinks like the hash algorithm should be fine (at most quantum gives a square root speed up for hashing, which isn't enough to be really concerning). One thing that might be problematic for a blockchain where everything has to go on the blockchain forever is that some post quantum schemes have really large signatures or key sizes. I'm not that familiar with the details of bitcoin, but i had the impression that p2pkh is more secure against quantum computers. [I should emphasize, im not a cryptographer and only somewhat familiar with bitcoin]
- ryankshaw 2y agoI had the same question and this article was really helpful in explaining the threat models https://www.deloitte.com/nl/en/services/risk-advisory/perspectives/quantum-computers-and-the-bitcoin-blockchain.html https://www.deloitte.com/nl/en/services/risk-advisory/perspe...
- valval 2y agoThis is the same as climate change. Something might happen sometime in the future.