How does Bitcoin defend in a post-quantum computing world?
105 sats \ 9 comments \ @jp 4 Jun 2022 bitcoin
Quantum computing will be available before the last Bitcoin is mined so:
How does Bitcoin defend itself in a post-quantum world?
How will this affect the mining companies who have made significant investment into ASICs?
How will this affect dormant wallets (e.g Satoshis wallet) from being cracked and liquidated?
P.S. do not avoid the question by saying "quantum computing is so far off into the future..." Or some other low-energy, beta response
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33 sats \ 0 replies \ @maxtrotter 4 Jun 2022
https://endthefud.org/tech 7 articles worth exploring
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7 sats \ 5 replies \ @kilianbuhn 4 Jun 2022
Quantum computing has nothing to do with hashing power. The only thing worth discussing is signatures - due to schor's algorithm.
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0 sats \ 2 replies \ @jp OP 4 Jun 2022
Can you elaborate regarding the Shor algo?
My concern would be around the current private key setup for many wallets (which I suppose could be transferred to a new quantum resistant encryption standard), but miners would be at an instant disadvantage and would have to retool their entire existing infrastructure (assuming they could somehow get access to a QC)
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420 sats \ 1 reply \ @kilianbuhn 9 Jun 2022
Shots algorithm could break all technologies based on prime number factorization.
Modern Hash functions like e.g. sha-3 are based on a Merkel-Damgard construction which is a whole separate method that has nothing to do with prime numbers. And there is no real quantum computing algorithm known to humanity that can break Merkle Damgard constructions.
In theory we know that it must be possible to find an algorithm that can break Merkle-Damgard constructions efficiently on normal computing hardware. But humanity hasn't found one yet for decades. But we know that it must exist in theory.
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0 sats \ 0 replies \ @jp OP 9 Jun 2022
Excellent response and thanks for taking time to write this up. Looks like I have some indepth reading to do this weekend
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0 sats \ 1 reply \ @go 4 Jun 2022
If you have the time to elaborate that would be awesome
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0 sats \ 0 replies \ @kilianbuhn 9 Jun 2022
Well, quantum computing is just a technology - and like all technologies it is limited to what humans can do with it. And Shoes algorithm basically would make it soon (it has been ”soon” for a decade now) possible to break public key infrastructure. But we have no real method to use quantum computing to break hashing.
Think of it like planes are a powerful technology for travel but planes won't solve the need for traveling to Mars. Related subjects but not the same thing
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0 sats \ 0 replies \ @pdmccombs 4 Jun 2022
Defense has to be programmed into Bitcoin core
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0 sats \ 0 replies \ @walle 4 Jun 2022 freebie
Some more reading from DJB: https://blog.cr.yp.to/