Backwards-compatible quantum fix found, but not for Bitcoin and Ethereum
Sui Research has unveiled a cryptographic framework designed to protect certain blockchains from quantum computing threats, without necessitating hard forks or changes to wallet addresses or keys. This innovative approach, highlighted by cryptographer Kostas Chalkias, is deemed a significant advancement for chains such as Sui, Solana, Near, and Cosmos, but does not extend to Bitcoin and Ethereum. The paper has been recognized as one of the most critical breakthroughs in cryptography, allowing for quantum-safe wallet upgrades while maintaining current wallet configurations. Experts warn that as quantum computing capabilities grow, traditional cryptographic protections may be at risk. Dadybayo, a researcher at Unstoppable Wallet, emphasized that the proposed solution eliminates the need for contentious hard forks commonly associated with blockchain updates. While the specifics of the implementation hinge on the use of the Edwards-curve Digital Signature Algorithm (EdDSA), the general sentiment is optimistic regarding a safer future for blockchain wallets against potential quantum threats. Discussions within the Bitcoin community also reflect concerns over hypothetical quantum attacks on Satoshi Nakamoto’s holdings, underscoring the urgency for robust solutions.
Source 🔗