
Cin Nguyen
844 posts

Cin Nguyen
@CinNguyen17
FullTime Crypto & Forex Trading




How to hard-fork to save most users' funds in a quantum emergency By: - vbuterin 🔗 ethresear.ch/t/18901 Highlights: - Quantum computers could potentially break the security of Ethereum, making it possible to steal users' funds by reversing the encryption that protects private keys. -The Ethereum blockchain can be updated (hard fork) to protect users' funds in the event of a quantum attack, requiring users to download new wallet software. -Most users' private keys are generated through a series of hash calculations, which provides a foundation for creating a recovery mechanism. -A proposed Ethereum Improvement Proposal (EIP) includes steps like reverting transactions after theft is detected, disabling traditional transactions, and introducing new transaction types for enhanced security. -The use of STARK proofs for transactions allows for the secure transition of accounts to a quantum-resistant state, ensuring the safety of users' funds in a post-quantum world. ELI5: Imagine if bad guys got super powerful computers (quantum computers) that could easily break the security protecting our digital money (like Ethereum). This article talks about a plan to quickly update Ethereum to protect everyone's money by making a big change (hard fork) to how Ethereum works, so that these super computers can't steal from us.




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