Safeguarding cryptocurrency by disclosing quantum vulnerabilities responsibly
5 hours ago
- #cryptocurrency security
- #quantum computing
- #post-quantum cryptography
- Google warns that future quantum computers could break elliptic curve cryptography (ECDLP-256) with fewer qubits and gates than previously estimated, threatening cryptocurrency security.
- They propose a transition to post-quantum cryptography (PQC) and provide recommendations, including refraining from reusing vulnerable wallet addresses, to improve blockchain security before quantum attacks become feasible.
- Google developed a responsible disclosure method using zero-knowledge proofs to verify quantum vulnerabilities without revealing sensitive attack details, aiming to prevent misuse while raising awareness.
- The paper includes updated quantum resource estimates, suggesting that breaking ECDLP-256 could require less than 1,200-1,450 logical qubits and 70-90 million Toffoli gates, reducing physical qubit needs by about 20-fold.
- Disclosure approaches like 'Responsible Disclosure' are advocated to balance public safety and security, addressing challenges unique to blockchain where fear, uncertainty, and doubt can undermine confidence.
- Google collaborates with entities like Coinbase, Stanford Institute for Blockchain Research, and the Ethereum Foundation, following a 2029 timeline for migration to post-quantum security.