Researchers Reduce Cost of Quantum-Safe Bitcoin Protection by 82 Percent
(5 hours ago) · 1 source · Summarized by CryptoBipto
Researchers have developed methods that reduce the cost of implementing quantum-resistant protections for Bitcoin by approximately 82 percent. The work is motivated by an estimated 6 million BTC held in addresses considered vulnerable to future quantum computing attacks due to exposed public keys.
WHY IT MATTERS
Bitcoin uses a type of math called elliptic curve cryptography to keep funds secure. Think of it like a lock that is extremely hard for today's computers to pick. However, a future type of computer called a quantum computer could theoretically pick that lock much faster. Some Bitcoin addresses have already revealed their 'public key' on the blockchain, which is like showing the shape of the lock to anyone watching. Researchers estimate about 6 million BTC sit in these exposed addresses. Quantum-safe protection is like upgrading to a new type of lock that even quantum computers cannot pick, but until now it has been expensive and resource-heavy to implement. This research has made that upgrade significantly cheaper, which could make it more realistic for Bitcoin to adopt in the future.
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- cryptoslate.com
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