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A Bitcoin researcher has come up with a way that could immediately make Bitcoin transactions quantum-safe without the need for a soft fork. In a proposal published Thursday, StarkWare chief product officer Avihu Levy proposed a Quantum Safe Bitcoin transaction scheme that heHe added that the plan requires no changes to the Bitcoin protocol and operates entirely within the existing legacy script constraints.
The downside is that it is costly and likely is not useful for everyday transactions, he said. The Bitcoin community has been split on how to tackle the quantum problem. QSB presents a temporary solution while a long-term approach is ironed out. The plan’s main feature is replacing the proof-of-work signature-size puzzle with a hash-to-sig puzzle., the spender must find an input whose hash output randomly happens to resemble a valid ECDSA signature, requiring brute-force work that even a quantum computer cannot shortcut.The proposal comes with caveats. It costs the sender between $75 and $150 per transaction in GPU compute and is more complex than a typical Bitcoin transaction, and thus would only make sense for securing large BTC transactions. Batten was referring to an estimated 1.7 million BTC locked in early P2PK addresses that could be cracked by a quantum computer. about what to do with the dormant coins, with the community split between leaving Bitcoin as-is to preserve its core ethos, freezing or burning the vulnerable coins entirely or upgrading the protocol to support quantum-safe signatures.The researchers acknowledged that this is a last-resort measure as transactions are non-standard, costs don’t scale to all users and use cases like Lightning Network are not covered.“While this article describes a solution that works today for quantum-safe Bitcoin transactions, it should be treated as a last-resort measure.”in March that unsettled the Bitcoin community as it suggested that a quantum computer could potentially crack Bitcoin’s cryptography using far fewer resources than previously thought.a quantum “escape hatch” prototype that enables users to prove Bitcoin wallet ownership from the original seed phrase without revealing it, which could serve as an alternative Bitcoin authorization method.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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