DCinvestor on Warpcast

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DCinvestor pfp

how prepared is Ethereum for the emergence of quantum computing today? feels like we are practically on the verge of an “any day now” moment where one or more nation states / corporations have a significant breakthrough also, what happens to Bitcoin?…

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https://www.youtube.com/watch?v=DkUpZkeqhF4

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Talking to some scientists who work with quantum computers, they argue that Blockchain might be at risk... but you can always switch to Blockchain on quantum computers to keep it difficult to decrypt. Stay ready.

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We're miles away from anything useful. Needs ITRO of a few million qubits to start being useful. The most powerful compuyer is around 500 qubits atm. It's estimated that hundreds of millions are needed to break military grade encryption.

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Luke pfp

Just Bitcoin or all encryption?

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Felirami 🎩🍖

I believe there are papers with anti quantum cryptographic methods that will be eventually rolled up to ethereum and others, basically there’s a way we can create a quantum cryptographic algorithm without needing to have the full quantum computer ready yet

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Wigger pfp

Take your meds.

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I don't think it is as close as many people believe. We are still in the noisy qubit era. A large number of qubits are still needed to make a single logical qubit

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nΞxt alpha pfp

I remember @justindrake coming to the conclusion/idea (in the @bankless episode on ETH as Sci-fi money) that quantum computing might just be a resource for strengthening Ethereum security.

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timbeiko.eth pfp

What happens to every single encrypted thing? IMO in that world, Ethereum is quite low on the list of targets, and can also likely adopt similar mitigations to what “everyone else” does, assuming we haven’t moved to an L1 zkEVM.

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Lama Boo 🔵⛓️

not a tech person, but I sincerely don't think it's threatening for the next several years

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Sebas pfp

i think that if quantum computer happens, you cannot trust in anything anymore. not just crypto, but the whole financial system. you wouldn’t be able to tell if something was manipulated or not.

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From the top of my head: - ECDSA used for public key derivation is broken. - Hashing algorithms are weakened by 1/2 roughly. - BLS signature aggregation used in PoS is broken. - KZG used for blobs is broken. The solution is to migrate to post-quantum algorithms like lattice-based.

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if you had a magic key that could unlock anything, there are higher value targets than Ethereum i do agree we need more research in this direction sooner rather than later though

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Michael Thompson

I recommend reading up on what a load of BS the "quantum supremacy" headlines were to get a bit of understanding here.

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Michael Thompson

QC and cryptography is FUD from what I gather. QC has its own weird restrictions. It does not mean "anything can be computed instantly". Severe physically constrained scaling issues, too.

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Centauri.eth pfp

ECDSA REKT (EoA's use this) Some SNARKs REKT BLS Validator keys REKT KZG REKT keep in mind I only have a high level understanding of this topic, but all these are theoretically quantum vulnerable. But its not like they will all break at once, they all have different way they work and other considerations like keysize

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