quantumcomputers
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In response to the sudden availability of #quantumcomputers , posing a threat to user funds, the proposal suggests a recovery fork for #Ethereum . This aims to counter the quantum threat through a hard fork and the introduction of quantum-resistant features, ensuring minimal loss of user funds. The key challenges involve the vulnerability of users' private keys due to quantum computing advancements.
The proposal outlines the following key elements for an Ethereum Improvement Proposal (EIP) to address a quantum emergency:
1. Blockchain Reversion: Roll back the blockchain to the first block indicating large-scale theft.
2. Transaction Type Modification: Disable traditional externally owned account (EOA)-based transactions temporarily.
3. Smart Contract Transaction Inclusion: Add a new transaction type to facilitate transactions from smart contract wallets, potentially integrating RIP-7560.
4. Quantum-Resistant Transaction Type or Opcode: Introduce a new transaction type or opcode enabling users to provide a #STARK proof demonstrating knowledge of a private preimage, a hash function ID, and a public address. Successful proof allows the switch to a new validation code, transforming the account into a smart contract wallet.
5. Batch Proof for Gas Efficiency: Allow a batch proof of multiple STARKs for gas efficiency, maintaining the privacy of individual preimages.
By structuring the recovery fork in this way, users can safeguard their funds through the implementation of quantum-resistant cryptography. The proposal emphasizes the potential immediacy of building the necessary infrastructure to prepare the Ethereum ecosystem for a quantum emergency, ensuring a swift and efficient response to emerging threats.
In response to the sudden availability of #quantumcomputers , posing a threat to user funds, the proposal suggests a recovery fork for #Ethereum . This aims to counter the quantum threat through a hard fork and the introduction of quantum-resistant features, ensuring minimal loss of user funds. The key challenges involve the vulnerability of users' private keys due to quantum computing advancements.
The proposal outlines the following key elements for an Ethereum Improvement Proposal (EIP) to address a quantum emergency:
1. Blockchain Reversion: Roll back the blockchain to the first block indicating large-scale theft.
2. Transaction Type Modification: Disable traditional externally owned account (EOA)-based transactions temporarily.
3. Smart Contract Transaction Inclusion: Add a new transaction type to facilitate transactions from smart contract wallets, potentially integrating RIP-7560.
4. Quantum-Resistant Transaction Type or Opcode: Introduce a new transaction type or opcode enabling users to provide a #STARK proof demonstrating knowledge of a private preimage, a hash function ID, and a public address. Successful proof allows the switch to a new validation code, transforming the account into a smart contract wallet.
5. Batch Proof for Gas Efficiency: Allow a batch proof of multiple STARKs for gas efficiency, maintaining the privacy of individual preimages.
By structuring the recovery fork in this way, users can safeguard their funds through the implementation of quantum-resistant cryptography. The proposal emphasizes the potential immediacy of building the necessary infrastructure to prepare the Ethereum ecosystem for a quantum emergency, ensuring a swift and efficient response to emerging threats.
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#MicroStrat #HongKong2024 #quantumcomputers #OpenAI
- A $BTC indicator suggests a 'local bottom' as traders anticipate prices dropping below $60K.
- After four years, MicroStrategy’s Bitcoin strategy is outperforming Warren Buffett’s cautions.
- Hong Kong plans to strengthen digital asset regulations within the next 18 months.
- Quantum computers are progressing more rapidly than scientists had predicted.
- OpenAI is concerned that people might form emotional connections with its AI designed to deceive humans.
#MicroStrat #HongKong2024 #quantumcomputers #OpenAI
Will Quantum Computers be Able to Hack Bitcoin?
Bitcoin, a cryptocurrency, relies on cryptographic algorithms to ensure its security. However, the emergence of quantum computers poses potential threats to Bitcoin's security protocols. In this article, we'll explore the likelihood of quantum computers hacking Bitcoin and the future of cryptocurrencies.
Bitcoin's Security Protocols
The Bitcoin network uses SHA-256 hash function and Elliptic Curve Digital Signature Algorithm (ECDSA) to secure transactions. These algorithms are considered difficult to break for current classical computers.
Capabilities of Quantum Computers
Quantum computers operate using quantum bits (qubits) and can perform computations by leveraging quantum mechanical properties such as superposition and entanglement. This enables them to calculate multiple possibilities simultaneously, potentially solving certain problems much faster than classical computers.
Quantum Computers and Cryptography
Quantum computers, particularly through the use of Shor's Algorithm, could have superior abilities to factor large numbers into prime factors. This poses a threat to cryptographic algorithms like ECDSA, which rely on prime factors.
Bitcoin Network's Resilience to Quantum Attacks
Currently, it's too early to discuss the practical existence of a quantum computer. However, if such a computer is developed in the future, the Bitcoin network would need to update its security protocols. Transitioning to post-quantum cryptography could be a solution.
While quantum computers theoretically have the potential to hack Bitcoin, practical implementation of this technology is not yet available. Bitcoin and other cryptocurrencies continue to work towards enhancing their security against future threats.
#Quantum #Bitcoin #BTC #quantumcomputers #blockchain
Bitcoin's Security Protocols
The Bitcoin network uses SHA-256 hash function and Elliptic Curve Digital Signature Algorithm (ECDSA) to secure transactions. These algorithms are considered difficult to break for current classical computers.
Capabilities of Quantum Computers
Quantum computers operate using quantum bits (qubits) and can perform computations by leveraging quantum mechanical properties such as superposition and entanglement. This enables them to calculate multiple possibilities simultaneously, potentially solving certain problems much faster than classical computers.
Quantum Computers and Cryptography
Quantum computers, particularly through the use of Shor's Algorithm, could have superior abilities to factor large numbers into prime factors. This poses a threat to cryptographic algorithms like ECDSA, which rely on prime factors.
Bitcoin Network's Resilience to Quantum Attacks
Currently, it's too early to discuss the practical existence of a quantum computer. However, if such a computer is developed in the future, the Bitcoin network would need to update its security protocols. Transitioning to post-quantum cryptography could be a solution.
While quantum computers theoretically have the potential to hack Bitcoin, practical implementation of this technology is not yet available. Bitcoin and other cryptocurrencies continue to work towards enhancing their security against future threats.
#Quantum #Bitcoin #BTC #quantumcomputers #blockchain
