Category Archives: Gavin Brennen

Auto Added by WPeMatico

Blockstream: Easier to Make Bitcoin Quantum Secure than Monero

Blockstream: Easier to Make Bitcoin Quantum Secure than Monero

A Blockstream researcher has claimed that it may actually prove easier to protect Bitcoin against the threat of quantum computers, than it may be protect privacy-centric coin Monero.

Potential attacks by quantum computers in the future could one day break blockchain’s so-far secure cryptography, but many theories abound of quantum computers one day becoming powerful enough to decode today’s encryption algorithms. Bitcoin core developer Jimmy Song and experts like Gavin Brennen have dismissed this claims in the past but others, like Blockstream researcher Andrew Poelstra, aren’t so sure.

According to Poelstra, he admitted that even privacy coin Monero was not fully secure:

“The only threat we are aware of to the elliptic curve discrete logarithm problem for the curves that we’re all using there are indeed quantum computers.”

He believed that it was not an immediate cause for concern but the possibility of a quantum computer large enough in terms of qubits to decode the logarithm was not too distant. Meanwhile, he felt that there should efforts to develop systems resilient to these future attacks.

This should actually be easier for a coin like Bitcoin, he claimed. as a transition plan would only require replacing the digital signature algorithm in order to be quantum-resistant. Others like Monero, however, would be more complex to replace.

 

Follow BitcoinNews.com on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews.com: https://t.me/bconews

Want to advertise or get published on BitcoinNews.com? – View our Media Kit PDF here.

Image Courtesy: Pixabay

The post Blockstream: Easier to Make Bitcoin Quantum Secure than Monero appeared first on BitcoinNews.com.

Gavin Brennen: 100GHz Quantum Computers Aren’t Threat to Blockchain

In May 2018, Australian physicist Gavin Brennen shared his team’s research into how quantum computing would affect blockchain. Jeffrey Tucker reported: “He began with his frustration over the headlines that swept the tech world last October and November. They were as alarmist as they were misleading.”

Scaremongering around how quantum computers will disrupt the security of blockchain technology is often exaggerated and not balanced with the possible solutions or counterplays to defend against the underdeveloped hardware left out.

Future iterations of quantum computers have the potential to reach speeds which are far greater than conventional computers, performing the calculations that blockchain is built on at a much faster rate. Quantum computers would use less energy and pose the threat of hijacking mining operations, redirecting currency and centralizing the network. With a powerful enough quantum computer, you would be able to crack the private key associated with a given public key, undermining the security of the blockchain.

Brennen and his team explored scenarios and made estimates of timeframes in which the technology would sufficiently develop to achieve this. Their research goes onto explain how current application specific integrated circuit (ASIC) hardware is performing proof of work (PoW) computations at hash rates of 14TH/s, which is one thousand times faster than the current gate speeds for quantum architectures which run at 66.7MHz (equates to 13.8GH/s). At the current difficulty level, this gives quantum computers no advantage. Future advancements in the development of quantum technology could see gate speeds of up to 100GHz. Quantum computers would then surpass current technology in its ability to solve the PoW algorithm.

Quantum computers’ future development

The development of hardware achieving these speeds, given the current progression is predicted to fall at the end of the decade, by which time advancements will have been made in ASICs similarly. Many large companies are well underway with research into quantum computing so in the next ten years technology may grow and develop around it. IBM has been making progress with its own quantum processor, with Intel getting closer to that reality as well. Scientists have been delving into silicon-laced diamonds and basic silicon as a means of manufacturing quantum architecture. Both Google and Microsoft are looking to develop cloud-based solutions and new coding languages for the technology. With a widespread availability of the technology and blockchain developing alongside the growth of this technology, it is unlikely for it to have such a detrimental impact.

Gavin also detailed several post-quantum signature schemes that help defend against quantum attacks, with at least four classes of known fixes, all of which are achievable by programmers today. A ten-year head start is ample time to improve on and further develop them into a protocol.

 

Image Source: Flickr: Steve Jurvetson – A Wafer of the Latest D-Wave Quantum Computers

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

The post Gavin Brennen: 100GHz Quantum Computers Aren’t Threat to Blockchain appeared first on BitcoinNews.com.