How will Quantum computing affect Bitcoin?

[ConnerDalfino]

It has been explained to me, albeit, in layman's terms, that one of the reasons our modern cryptography works so well on classical computers is that they rely on prime factorization which classical computers don't do so well. This has been key to maintaining our computers and networks secured. One of the things Quantum computers do better than classical computers is prime factorization. How will the advent of Quantum computing impact cryptography? Will technologies like blockchains and bitcoin be affected?

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[Lorence.xD]

We don't know the current peak capability of quantum computing as it is still in its early stages but one thing is sure that it will be a problem for bitcoin because as what is on the paper says about quantum computing, it will be far faster than any computer in the market and in any laboratories. We also have to stop telling people that quantum computing will be able to hack the private key of everyone, yes it has faster calculations but that doesn't mean that it will crack the key in a matter of days, if right now the current brute force duration is the heat death of the universe, maybe with quantum computing, the time it takes will be cut in half but that is still a whole lot of millennia.

[zanezane]

We don't know the current peak capability of quantum computing as it is still in its early stages but one thing is sure that it will be a problem for bitcoin because as what is on the paper says about quantum computing, it will be far faster than any computer in the market and in any laboratories.

You might be right but I am a firm believer that it can affect bitcoin big time, we can't see the peak but we can still imagine what it will do, remember the first computer which is the size of one room, they were much slower back then but we came to the stage that almost every household has a computer which means that quantum computer capabilities might do what we didn't expect it to do at unexpected speed.

We also have to stop telling people that quantum computing will be able to hack the private key of everyone, yes it has faster calculations but that doesn't mean that it will crack the key in a matter of days, if right now the current brute force duration is the heat death of the universe, maybe with quantum computing, the time it takes will be cut in half but that is still a whole lot of millennia.

I find it funny that people are talking about quantum computers breaking the security of blockchain so I wouldn't want them people to stop telling about it because I want them to see what they are going to say when you ask them why. Is that really the time it takes to crack the private key with brute force? That is a really long time, I might do some quick search about the duration but I am sure that it will not be as long as the death of universe.

[avikz]

It has been explained to me, albeit, in layman's terms, that one of the reasons our modern cryptography works so well on classical computers is that they rely on prime factorization which classical computers don't do so well. This has been key to maintaining our computers and networks secured. One of the things Quantum computers do better than classical computers is prime factorization. How will the advent of Quantum computing impact cryptography? Will technologies like blockchains and bitcoin be affected?

Quantum computers are a reality and not a myth anymore! Companies like IBM, Google have invested billions in their quantum computing project and has seen a preliminary success. It's definitely a threat to cryptography but not an immediate one!

Quantum computers are exceptionally costly to build and only a couple of nations have shown interest in it! If you think hackers will use such computers to launch an attack on cryptocurrencies like bitcoin, then you are daydreaming. Quantum computing is not yet a threat to cryptography, at least not now and not in immediate future!

[NeuroticFish]

Quantum computers are exceptionally costly to build and only a couple of nations have shown interest in it! If you think hackers will use such computers to launch an attack on cryptocurrencies like bitcoin, then you are daydreaming. Quantum computing is not yet a threat to cryptography, at least not now and not in immediate future!

Actually they've started to also build 5000$ quantum computers too. Of course, they are very weak (2 qbit) hence they don't need liquid helium for cooling.

And I think that you are also wrong about government financed quantum computers. In the same way super computers were used for crypto mining by this or that scientist with access to them, I can also expect this kind of "accidents" happen now and then with quantum computers too in the future.

But from what I've read (since there are plenty of threads here on this topic!) Bitcoin is pretty much safe from quantum computing and the only weakness (albeit theoretical) may be in the address reuse. (If I understood right). However, there are a lot of things in this world protected by cryptography, same or weaker than Bitcoin's, if this is hacked the problems will be .. generalized.

[aoluain]

By using the search facility the answers to this query can be found in approximately 4 seconds.

Its one of the most popular topics here on the forum, I got bored of copying links so I stopped at around 20.

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[ranochigo]

But from what I've read (since there are plenty of threads here on this topic!) Bitcoin is pretty much safe from quantum computing and the only weakness (albeit theoretical) may be in the address reuse. (If I understood right). However, there are a lot of things in this world protected by cryptography, same or weaker than Bitcoin's, if this is hacked the problems will be .. generalized.

As well as transactions that were in P2PK, which means most of the coins mined in the early days are vulnerable. It is not difficult to solve this issue for the transactions in the future but those with exposed public keys will inevitably be vulnerable still.

Important note: Most of the encryptions that you're using nowadays will be broken in tandem. Whether Bitcoin is a suitable target, it's too early to tell.

[20kevin20]

One particular way I'm afraid this could affect cryptocurrency is when privacy features come in. For example, if Bitcoin gets MW and QCs will be used against BTC, can't it basically be used to generate all possible seeds and not only link current addresses to each other (since coin control is no privacy enhancer anymore as soon as they have your seed) but also see where the money has come from (or been sent to)?

My fear is that they are using very advanced technologies before we even hear about them, hence being able to control the network (only in a surveillance, view-only mode!) in a way we previously thought was not very likely.

But as others said, if BTC is under attack through QC then there are so many other corporations, banks, governments etc that would be under a very serious threat as well. I think we can only suppose stuff about the damage QC can do until it becomes a consumer-end product. But by then, all the potentual threats are probably going to be erradicated..

[ranochigo]

One particular way I'm afraid this could affect cryptocurrency is when privacy features come in. For example, if Bitcoin gets MW and QCs will be used against BTC, can't it basically be used to generate all possible seeds and not only link current addresses to each other (since coin control is no privacy enhancer anymore as soon as they have your seed) but also see where the money has come from (or been sent to)?

I actually haven't thought of this at all and I was more fixated on how it would just exploit public key cryptography. I don't think QCs will be able to speed up the generation of seeds (or addresses), that significantly. After all, address generation involves both SHA256 as well as RIPEMD-160 while HMAC-SHA512 is used for BIP32 seeds to master private keys. While they should provide a speedup through Grover's algorithm, I doubt it would be fast enough to exhaust the key space. But of course, the xpub will be vulnerable to quantum computers the same way as how exposed public keys are.

[DapanasFruit]

I am not really so afraid of quantum computing to be affecting the integrity and security of Bitcoin. Anyway, in case it can really be possible for this technology to destroy Bitcoin then let it be. However, it can be taking years before we can see a full-pledged quantum computing to be perfectly working and by that time I am sure that Bitcoin has already got the necessary technological advances to counteract that possible threat. One thing for sure, we are all weak in predicting the exact future. 

[20kevin20]

I actually haven't thought of this at all and I was more fixated on how it would just exploit public key cryptography. I don't think QCs will be able to speed up the generation of seeds (or addresses), that significantly. After all, address generation involves both SHA256 as well as RIPEMD-160 while HMAC-SHA512 is used for BIP32 seeds to master private keys. While they should provide a speedup through Grover's algorithm, I doubt it would be fast enough to exhaust the key space. But of course, the xpub will be vulnerable to quantum computers the same way as how exposed public keys are.

Are QCs the fastest tech they have right now tho? I really think there's even better tech laying around in some underground base they're experimenting with. By the time usual customers will get to own a QC, they will already be many steps ahead with the technology. I don't think they would ever let QCs be a thing until they will already have something better ready under the glove.

If cryptography is compromised, then I think it's safe to say the entire network potentially is as well. I'm no expert though so feel free to prove me wrong. But then again, there will be ways to fight against this. Like any other type of tech, there will be ways to counter its attacks.

[ranochigo]

Are QCs the fastest tech they have right now tho? I really think there's even better tech laying around in some underground base they're experimenting with. By the time usual customers will get to own a QC, they will already be many steps ahead with the technology. I don't think they would ever let QCs be a thing until they will already have something better ready under the glove.

Well, you wouldn't ever know until it happens. It's safe to assume QC is the biggest threat to cryptography, anything else would be a speculation at this point. QCs, together with Shor algorithm will probably be the one that can feasibly factorize large integers.

If cryptography is compromised, then I think it's safe to say the entire network potentially is as well. I'm no expert though so feel free to prove me wrong. But then again, there will be ways to fight against this. Like any other type of tech, there will be ways to counter its attacks.

It is. Until we figure out a way to secure the millions of Bitcoins that are associated with the exposed public keys. I'll leave the feasibility and its cost aside, it isn't the main point of the topic.

[Argoo]

It has been explained to me, albeit, in layman's terms, that one of the reasons our modern cryptography works so well on classical computers is that they rely on prime factorization which classical computers don't do so well. This has been key to maintaining our computers and networks secured. One of the things Quantum computers do better than classical computers is prime factorization. How will the advent of Quantum computing impact cryptography? Will technologies like blockchains and bitcoin be affected?

Quantum computers are a reality and not a myth anymore! Companies like IBM, Google have invested billions in their quantum computing project and has seen a preliminary success. It's definitely a threat to cryptography but not an immediate one!

Quantum computers are exceptionally costly to build and only a couple of nations have shown interest in it! If you think hackers will use such computers to launch an attack on cryptocurrencies like bitcoin, then you are daydreaming. Quantum computing is not yet a threat to cryptography, at least not now and not in immediate future!

More recently, many on this forum assured that quantum computers can be created in at least ten years, so you should not be afraid of their computing capabilities. However, I recently read that low-power quantum computers are already being shipped to schools in China to learn how they work. That is, such computers have already been created and they are already working. But so far, little is known about their ability to crack digital codes. If this were possible, then many would already have raised the issue of hacking their wallets. I think that soon we will find out the answers to these questions.

[posi]

According to what I read quantum computer is a supercomputer that was said to be a serious challenge to blockchain security but I think will be 20years before we can see a quantum computer that will break blockchain security and before that time there's already a perfect solution to secure the blockchain network from a quantum computer.
I read that the non-regulatory agency of the United States Department of Commerce (NIST) has already started gathering proposals for post-quantum cryptography, encryption that would operate and not be broken even with much larger quantum computers than the ones we’re currently able to build so people shouldn't fear the capacity of the quantum computer.

[pawanjain]

By using the search facility the answers to this query can be found in approximately 4 seconds.

Its one of the most popular topics here on the forum, I got bored of copying links so I stopped at around 20.
~Snip

Bang on ! I was waiting for someone to post this and you did it in a better way.
I wonder why people don't use the search function when it can easily answer all our queries most of the time.
Procrastination ??

[suzanne5223]

Although, I am yet to understand the supremacy of the quantum computer but there's a chance the news and what was said about the quantum computer to break the blockchain is just a FUD to create some panic because SHA-256 which was used for Bitcoin is speculated to be quantum-resistant and the last time I checked Bitcoin client use SHA-512 (which is even stronger than SHA-256). If SHA-256 is quantum-resistant how will quantum pose a threat to SHA-512?
If SHA-256 and SHA-512 can be creak by a quantum computer in the future a soft fork is enough to make crypto safe from a quantum computer.

[so98nn]

If SHA-256 and SHA-512 can be creak by a quantum computer in the future a soft fork is enough to make crypto safe from a quantum computer.

Impossible. You will never be able to crack the SHA codes because of very obvious reason. I have already started topic regarding breaking of the SHA codes by using Quantum Computing. However after reading the responses it seems that would be impossible.

Head over here if interested in reading the same:-  SHA-256 All Possible Combination & Breaking the code Hypothesis

The topic directs how many combinations we can have and how we can break them all with the help of Quantum power.

[Myleschetty]

It is not difficult to solve this issue for the transactions in the future but those with exposed public keys will inevitably be vulnerable still.

I understand that reusing the same wallet address is not advisable when security is the top priority, the last time I read public can be share online but what you just said now makes me surprise and curious what you really mean. The question is why would people with exposed public keys be vulnerable?

[ranochigo]

I understand that reusing the same wallet address is not advisable when security is the top priority, the last time I read public can be share online but what you just said now makes me surprise and curious what you really mean. The question is why would people with exposed public keys be vulnerable?

On the similar vein, reusing address results in exposed public keys as transaction will contain the ECDSA public key of the address.

The private key can be derived from the public key using Shor's algorithm given a sufficiently powerful quantum computers. Addresses are not public keys, they are the hash of the public keys.

[suzanne5223]

If SHA-256 and SHA-512 can be creak by a quantum computer in the future a soft fork is enough to make crypto safe from a quantum computer.

Impossible. You will never be able to crack the SHA codes because of very obvious reason. I have already started topic regarding breaking of the SHA codes by using Quantum Computing. However after reading the responses it seems that would be impossible.

Head over here if interested in reading the same:-  SHA-256 All Possible Combination & Breaking the code Hypothesis

The topic directs how many combinations we can have and how we can break them all with the help of Quantum power.

I know it impossible to break SHA and if you read my statement you'll understand that I said it already but just in case a new computer was introduced in the future or a situation happen that the SHA can break happen that why I make the above statement because technology is advancing every day and what people do before are handle by bots.
Having said that, there are some people working relentlessly just to see the end of Bitcoin security.