See original
LIVE
Defrank
--
Bearish
🔥Are Satoshi Nakamoto's Bitcoins in danger? 🤔
Concerns have arisen over the #bitcoins that Nakamoto currently possesses #satoshi, following the announcement of the new Google chip called "Willow" showcasing advancements in quantum computing.
The main concern is the security of the early transaction formats of #Bitcoin!. When Bitcoin was first mined by Satoshi Nakamoto, they used the old pay to public key (P2PK) format, which exposes public keys in the #Blockchain. With this format, Satoshi mined 1 million BTC.
In this context, according to the CEO of Ava Labs, Emir Sirer, the first transactions using the (P2PK) format could be exploited by quantum computers capable of deriving private keys from public keys. Nowadays, the p2pkH format is used, which has a higher level of security.
Some community members are calling for Satoshi Nakamoto's Bitcoins to be frozen to prevent any future issues, while others argue that doing so could have consequences and affect the decentralization of Bitcoin itself. Do you think this is a good solution?
👉More crypto updates...
Share and follow me for more 👈😎
$BTC
Concerns have arisen over the #bitcoins that Nakamoto currently possesses #satoshi, following the announcement of the new Google chip called "Willow" showcasing advancements in quantum computing.
The main concern is the security of the early transaction formats of #Bitcoin!. When Bitcoin was first mined by Satoshi Nakamoto, they used the old pay to public key (P2PK) format, which exposes public keys in the #Blockchain. With this format, Satoshi mined 1 million BTC.
In this context, according to the CEO of Ava Labs, Emir Sirer, the first transactions using the (P2PK) format could be exploited by quantum computers capable of deriving private keys from public keys. Nowadays, the p2pkH format is used, which has a higher level of security.
Some community members are calling for Satoshi Nakamoto's Bitcoins to be frozen to prevent any future issues, while others argue that doing so could have consequences and affect the decentralization of Bitcoin itself. Do you think this is a good solution?
👉More crypto updates...
Share and follow me for more 👈😎
$BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
Replies 0