Can a quantum computer crack Bitcoin cryptography? I would like to break the myth about this one. As to cryptography, Bitcoin uses digital signature algorithms and hash functions.
Yes the ECDSA by means of which Bitcoin's digital signature works, can be cracked, but the hash function is considered invulnerable to attacks of a quantum computer. Therefore, we still have a risk that a private key can be obtained through the public one.
Address is a hash value obtained, by means of two different hash functions, so you can not get the public key from it. Public key is not visible in the blockchain until the coins are spent, so we can create a new address for each payment and the coins will be safe.
Computing capabilities of a quantum computer pose a threat to many cryptographic algorithms. However, cryptographers from all around the world are working on creation of quantum-stable cryptographic algorithms. Bitcoin's protocol can be updated and post-quantum algorithms of electronic signature can be added to it, when it’s necessary.
Therefore too early to be afraid of a quantum computer threat for Bitcoin. Today we still don't have a fully functioning quantum computer, while the post-quantum cryptography has already presented some sustainable solutions.
Author :
Anastasia Sapozhkova
