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Title: Bitcoin and crypto-assets in the post-quantum world. Post by: Cryptology on August 22, 2015, 07:48:40 AM https://www.schneier.com/blog/archives/2015/08/nsa_plans_for_a.html
Interesting read by Bruce Schneier suggesting that quantum computers capable of breaking modern cryptographic algorithms could come online much sooner that expected. In the list of vulnerable algorithms Schneier includes elliptic curve which as we know is the one used by Bitcoin (and many other cryptocurrencies) to sign transaction. Based on the ongoing block size war I'm not sure that Bitcoin's community could effectively fend from this incoming threat. The task of agreeing on and implementing a quantum resistant digital signature algorithm for Bitcoin is certainly a much bigger challenge that agreeing on block sizes. Can Bitcoin survive in the post-quantum era? How? |