Post Quantum Coin
16 posts

Post Quantum Coin
@PQCerc20
Google research says future quantum computers could crack Bitcoin private keys in just 9 minutes. CA: 0x13FB991Fea0308fB0cA28BB2BbA69A375E35D61e





Specifically, this paper. It's a brand new resource estimate that's wildly lower than prior estimates of what it would take to break ECC-256. Featuring the Google Quantum AI team + Justin Drake + Dan Boneh quantumai.google/static/site-as…


🚨 THIS IS ABSOLUTELY WILD Google just released a quantum paper, and it's really a nightmare. Here's what you need to know: - Breaking crypto encryption now only requires 500,000 qubits. That’s 20 times less than what experts previously thought was needed. - An attack could happen in just 9 minutes. Bitcoin’s block confirmation takes longer than that. - The top 1,000 Ethereum wallets could be cracked in 9 days. Crypto projects have roughly 3 years to upgrade their security before quantum computers make current encryption obsolete.




Saw some people panicking or asking about quantum computing's impact on crypto. At a high level, all crypto has to do is to upgrade to Quantum-Resistant (Post-Quantum) Algorithms. So, no need to panic. 😂 In practice, there are some execution considerations. It's hard to organize upgrades in a decentralized world. There will likely be many debates on which algorithm(s) to use, resulting in some forks. And some dead project may not upgrade at all. Might be a good to cleanse out those projects anyway. New code may introduce other bugs or security issues in the short term. People who self custody will have to migrate their coins to new wallets. This brings to the question of Satoshi's bitcoins. If those coins move, then it means he/she is still around, which is interesting to know. If they don't move (in a certain period of time), it might be better to lock (or effectively burn) those addresses so that they don't go to the first hacker who cracks it. There is also the difficulty of identifying all his addresses, and not confuse with some old hodlers. Anyway, it's a different topic for later. Fundamentally: It's always easier to encrypt than decrypt. More computing power is always good. Crypto will stay, post quantum.








6.7 million BTC are sitting in addresses vulnerable to quantum attacks yeah

🚨 Google has sounded the quantum alarm 🚨 Today, they released groundbreaking progress towards breaking crypto using a quantum computer. TLDR - Existing cryptography is dead. Mempool attacks are real. We must migrate to post-quantum now. Thread 🧵

@mreiffy On the plus side, if you forgot the password to your wallet, it will be accessible in the future x.com/i/grok/share/a…


Many are wondering "what Google saw" that caused them to revise their post-quantum cryptography transition deadline to 2029 last week. It was this: research.google/blog/safeguard…




