- Quantum computers represent a threat to Bitcoin security.
- The developers rush to the network to the test of future.
- Michael Saylor is not convinced that it is a problem.
Bitcoin developers debate in the best way to combat the rise of quantum computers with the power to break the cryptography that underlies the network of 2.2 billions of dollars.
In May, Tadge Dryja, a co-inventor of the Bitcoin Lightning network, proposed adding a feature that will protect the bitcoin kept in user wallets if a quantum armed actor tries to break their cryptography.
“It would be good to have a way not to deal with this problem as long as after (quantum calculation) appears,” said Dryja in an article on the Bitcoin developer’s dissemination list.
“I hope that this scheme would give a certain peace of mind to people holding Bitcoin, that in the face of a sudden (quantum computer), even with a minimum preparation, their parts can be safe at rest and securely moved.”
Revived debate
Developers have long been disagreeing if and when quantum computers will threaten Bitcoin cryptography. But recent developments in the field have revived a debate.
In December, Google unveiled a new quantum computer chip called Willow, which benefited from an improvement of 56% compared to the previous chip of the technology giant.
Then, in February, Microsoft announced his own chip which said they solved the scaling problems that have constantly tormented the ground.
At the current development rate, quantum computers could start to threaten Bitcoin in the five to 10 years, Pierre-Luc Dallaire-Demers, a scientist in residence at the University of Calgary, said previously DL News.
Others, such as the president of the strategy Michael Saylor, are not convinced of the threat.
“I don’t worry,” said Saylor Bloomberg News this week. “Microsoft and Google market their quantum projects, but they would never sell a quantum computer that cracked cryptography because it would destroy their own businesses.”
What is the problem?
However, an increasing number of votes warn that quantum computers could possibly threaten any cryptography and encryption.
In the immediate future, older Bitcoin portfolios that use an obsolete form of cryptography will be the easiest to crack for quantum computers.
This is a problem because such portfolios contain millions of bitcoins, including the hiding place of $ 120 billion from the creator of Bitcoin Satoshi Nakamoto.
When an older portfolio sends a transaction, it reveals a vulnerable public key. A quantum computer could use this key to break the portfolio encryption and steal bitcoin inside.
The Dryja solution is to demand that these portfolios make a so -called engagement transaction followed by a revelation transaction in order to move funds.
Fork
This should protect the attacks from the attack and requires only a relatively discreet network update called a gentle fork to implement.
Dryja is not the first to offer such a functionality. Tim Ruffing, a cryptographer and blockchain researcher presented a first version of such a system in 2018.
From the post of Dryja, Leo Wandersleb, founder of Bitcoin Wallet Wallet Walletscritiny, and several other Bitcoin developers have built on the idea.
‘Release the old coins’
The situation is part of a broader debate among developers and stakeholders as to whether Bitcoin in older wallets should be protected from the attack – even if this means violating the owner’s property rights – or possibly being stolen by those who control quantum computers.
“I do not see why old pieces should be confiscated,” said Hunter Beast, a Bitcoin developer. “The best option is to allow those who have quantum computers free from old pieces. Although this can have an inflationary impact on the price of bitcoin, to use a turn of sentence, inflation is transient.”
Still others claim that leaving such a situation would take place would have a disastrous impact.
“I do not see how money can keep any value in such a context,” said Pieter Wuille, a Bitcoin basic developer and the co-founder of Blockstream.
To be sure, many Bitcoin users have already moved their funds to more recent portfolios with stronger encryption. It is a relatively simple process.
But the Bitcoin portfolios from which the owners have died, have lost the password type keys which control access to the wallets or which have simply lost any interest in Bitcoin, will always remain a target for quantum computers of cryptography cracking.
Tim Craig DL News DL News Correspondent. Contact the advice at tim@dlnews.com.
