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Title: Quantum Computing threat in relation to Crypto and blockchain technology. Post by: KarlKanKarl on February 24, 2020, 12:13:40 AM The classical computers process data while the quantum computing is a new method to process data and solving problems that classical computing are not capable of.
There are some computations that was thought can not be possible but now becoming a matter of time by quantum computer. As I read it, it was written that quantum computing that computer giants like google are working on now can not break blockchain and the underlying cryptography. But, with time, there can be more sophisticated ones that can be a threat to blockchain. So, they are a threat to blockchain and cryptocurrencies. It will be better to create a quantum resistant layer to an existing blockchain protocol to increase its security or create a quantum resistant blockchain from scratch. They are the recent approaches. Title: Re: Quantum Computing threat in relation to Crypto and blockchain technology. Post by: btc_angela on February 24, 2020, 01:28:46 AM We have so many topics about this one:
I don't believe Quantum Computing will ever threaten Bitcoin (https://bitcointalk.org/index.php?topic=5157696.0) - Read this one, a lot of good points in that thread. Is quantum computing threat to Bitcoin ? (https://bitcointalk.org/index.php?topic=4266048.0) Protection From Quantum Attack (https://bitcointalk.org/index.php?topic=5189555.0) Would Quantum Computer Kill Bitcoin (https://bitcointalk.org/index.php?topic=5189607.0) Quantum Computing and Bitcoin (https://bitcointalk.org/index.php?topic=5075137.0) Title: Re: Quantum Computing threat in relation to Crypto and blockchain technology. Post by: KarlKanKarl on February 24, 2020, 10:14:43 PM We have so many topics about this one: I don't believe Quantum Computing will ever threaten Bitcoin (https://bitcointalk.org/index.php?topic=5157696.0) - Read this one, a lot of good points in that thread. Is quantum computing threat to Bitcoin ? (https://bitcointalk.org/index.php?topic=4266048.0) Protection From Quantum Attack (https://bitcointalk.org/index.php?topic=5189555.0) Would Quantum Computer Kill Bitcoin (https://bitcointalk.org/index.php?topic=5189607.0) Quantum Computing and Bitcoin (https://bitcointalk.org/index.php?topic=5075137.0) Quantum computing as said might not pose a threat to Blockchain but could later be able to make Blockchain prone to attack. Title: Re: Quantum Computing threat in relation to Crypto and blockchain technology. Post by: squatter on February 24, 2020, 10:50:58 PM It will be better to create a quantum resistant layer to an existing blockchain protocol to increase its security or create a quantum resistant blockchain from scratch. They are the recent approaches. The consensus seems to be that Bitcoin should implement quantum-resistant cryptography sometime before these threats become real: Here's a relevant paper that speculates about when ECDSA will be broken: Quantum attacks on Bitcoin, and how to protect against them (https://arxiv.org/pdf/1710.10377.pdf) Quote The elliptic curve signature scheme used by Bitcoin is much more at risk and could be completely broken by a quantum computer as early as 2027, by the most optimistic estimates. Wasabi Wallet creator nopara73 believes 2022–23 is closer to the mark (https://medium.com/@nopara73/stealing-satoshis-bitcoins-cc4d57919a2b): Quote For Bulletproofs, what matters is the Shor RSA2048 line, which is predicted to be broken in 2022–23. In fact, ECC is more vulnerable than RSA in a post-quantum world, so our discrete logarithm assumption may be broken even sooner. As you can see, we are beginning to approach the estimates at the lower bound. At the same time, those estimates are based on a boatload of assumptions that may turn out false. It may be wise to wait and see how quantum technology progresses over the next year or two before rushing any major consensus changes. |