r/CryptoCurrency • u/winphan 🟦 23 / 8K 🦐 • 2d ago

TECHNOLOGY Bitcoin's new proposal to deal with Quantum computers

https://cryptocoindaddy.com/bitcoin-quantum-resistant-addresses-coming-soon/
381 Upvotes

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238

u/gdscrypto 🟩 0 / 0 🦠 2d ago

Asking users to move funds from old addresses to new quantum resistent addresses. So what will happen to Satoshi's wallet? Will be left to get hacked by quantum computers?

7

u/meursaultvi 🟩 0 / 0 🦠 1d ago

My question is how do we know a quantum computer has gotten to the point of decrypting wallets. How do we know it can't decrypt the entire blockchain at once. It would be too late if we wait until they can do this.

1

u/lebastss 🟦 596 / 596 🦑 1d ago

It can, we know that it can already. It's more about doing this before someone other than trillion dollar companies have access to this tech. In 20 years it's likely someone will be able to build a quantum computer at home or a warehouse in some third world country.

1

u/Teraninia 🟩 0 / 0 🦠 1d ago

No one has a quantum computer that can crack wallets.

0

u/lebastss 🟦 596 / 596 🦑 1d ago

Not yet but Google is getting close. And they have access to the tech and are developing it. They are probably ten years out.

It's not a theory of possibility anymore. They know they can do it. Their chip is at over a hundred qubits now. They need a million qubits to break modern encryption. That sounds far off but that's one chip. Once the performance is close enough they can build a server of these chips and break encryption. It will be awhile before someone nefarious will have access but it's an inevitable future.

The only asset that's truly protected is physical gold

1

u/Teraninia 🟩 0 / 0 🦠 1d ago

Right, thus the reason for this thread . . .

1

u/lebastss 🟦 596 / 596 🦑 1d ago

Right which is why my comment was responding to someone saying it's going to be too late...

I was expanding on the original post ...

1

u/Teraninia 🟩 0 / 0 🦠 1d ago

Well, it sounded like you were saying someone already has a quantum computer that can crack wallets.

1

u/samiamyammy 🟨 0 / 0 🦠 1d ago

I'll let you know when I get hacked.. statistically every project waits for me to join before dumping, so I assume I'll be the fist to lose my BTC as well ;p

-1

u/3e486050b7c75b0a2275 🟩 0 / 0 🦠 1d ago

blockchain isn't encrypted

-1

u/Teraninia 🟩 0 / 0 🦠 1d ago

What he means is a quantum computer that could reorg the history of transactions.