Bitcoin Security vs Quantum Computing - page 2.

PrimeNumber7

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Quote from: mda on May 26, 2020, 07:53:20 PM

You don't need to worry if you don't expose public keys (address reuse).

When you spend your coin, you are exposing your public key. On average, there will be 5 minutes between when you broadcast your transaction and when the next block is found, so an attacker with a sufficiently strong quantum computer will have 5 minutes to calculate your private key, and double-spend your tx after you broadcast your transaction.

There are threads about this elsewhere in this sub, and I have posted about why QC is unlikely to be a threat to bitcoin. In short, the value someone can get from using QC to calculate bitcoin private keys is less than the value of keeping the existence of this technology secret.

Keiser Soze

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Quote from: joniboini on May 27, 2020, 01:19:38 AM

Quote from: Keiser Soze on May 27, 2020, 12:49:58 AM

I fail to understand how programming can mitigate this risk.

By changing the encryption to quantum-proof cryptography. There are several sources to learn about how we can face this, just take a little bit time to read (eg: https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin).

Thanks, I will read and try to understand this better!

joniboini

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Quote from: Keiser Soze on May 27, 2020, 12:49:58 AM

I fail to understand how programming can mitigate this risk.

By changing the encryption to quantum-proof cryptography. There are several sources to learn about how we can face this, just take a little bit time to read (eg: https://en.bitcoin.it/wiki/Quantum_computing_and_Bitcoin).

crwth

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There are a lot of theories corresponding to the capacity of quantum computing to be able to crack Bitcoin encryption. Some say years, some say decades, but what's important is that now, they are saying that it's possible.

We will see in the coming years if Quantum Computing would be able to it, but for now, let's just support the Bitcoin Network.

Maybe Quantum Resistant Ledger (QRL) [1] as the go-to cryptography of the public key. It would be more comfortable knowing that you could be safe. This is if you always think of the "attack" by Quantum Computers. Shocked

Keiser Soze

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In brief, the article states:
- A 4,000 qubit quantum computer could, theoretically, crack Bitcoin's encryption in a matter of seconds.
- The current generation of quantum computers max out at 54 qubits.
- A quantum computer capable of cracking Bitcoin's encryption could be just two years away.

I suppose BTC has a few years still to program it's way out of this risk, however I fail to understand how programming can mitigate this risk.

pooya87

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Quote from: mda on May 26, 2020, 07:53:20 PM

You don't need to worry if you don't expose public keys (address reuse). Even if the network shuts down for a while your coins will be safe and developers eventually will figure a solution.

true, but the thing about bitcoin is that if there were any kind of vulnerability in its very basic cryptography (which there isn't by the way) then it would have no value so in the end it wouldn't matter much if your public key is revealed or not.

ranochigo

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Quantum computing is nowhere near the levels that is needed to break ECDSA.

It's true that Shor's algorithm makes ECDSA vulnerable to attacks by quantum computers which reduces the time needed significantly. However, if you look at it, the amount of qubit that is required to break ECDSA is estimated to be ~1500. The best quantum computer right now has 53 qubit.

If you don't reuse addresses, the effects are negated since it still takes time for the quantum computer to crack your keys. I don't see a real threat right now but the community would probably act on it when the need arises.

mda

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You don't need to worry if you don't expose public keys (address reuse). Even if the network shuts down for a while your coins will be safe and developers eventually will figure a solution.

bob123

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Ye.. i didn't read it and didn't even click on the link.
But i don't need to do that to tell you that this is absolute garbage.

Bitcoin "encryption" (i guess you meant signatures) won't be crackable the next few years..
Even if (and that already is a big if) there will be well working quantum computers available in a few years... there are no algorithms available.

You need the hardware AND the efficient algorithms.
And once its coming close to be possible, a hardfork is going to solve everything.
The traditional banking sector and the government will be at a higher risk with their slow IT departments than bitcoin.

Keiser Soze

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I read an article recently again claiming that within a few years, quantum computers will be easily able to crack BTC encryption: https://decrypt.co/28560/quantum-computers-could-crack-bitcoins-encryption-by-2022

Any thoughts on the above?

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