Bitcoin Getting Quantum Resistant
Bitcoin Getting Quantum Resistant. NEO Mainnet will team with ArQit to bring QKD and other quantum technology to the blockchain. “To this blockchain we
November 2, 2018
Bitcoin Getting Quantum Resistant. NEO Mainnet will team with ArQit to bring QKD and other quantum technology to the blockchain. “To this blockchain we
Arquably, quantum computers could break blockchain encryption. However, a group of scientists at the Russian Quantum Center in Moscow believe they have a solution. The importance to world economies is growing as one of blockchain’s most visible uses is Bitcoin.
The threat to blockchain boils down to: (1) After a Bitcoin (a cryptocurrency) transaction is broadcast to the network, it is at risk. (2) Using a quantum computer, the secret key could be derived before transaction placement on the blockchain. (3) Malicious intent could permit the broadcast of the secret key with a new transaction to the malicious actor’s own benefit. (4) Placing the new stolen secret key-enabled transaction on the blockchain before the original transaction permits grand theft of all the bitcoin “behind the original”.
Bitcoin and Quantum Computer Attacks Lately, Bitcoin and quantum computing have been on the receiving end from the media’s focus. This study from researchers in
What’s the First Thing You’d Do with A Quantum Computer? How about mine Bitcoin or other crypto-currency? That’s one idea, perhaps not so far-fetched. Though
