This Bitcoin Developer’s Idea Would Make Quantum Attacks a Losing Bet

Share

Bitcoin developer Cory Fields proposes “quantum landmines” to penalize thieves capable of recovering private keys with Shor’s algorithm. Before Q-Day, the owner of a vulnerable wallet would place a secret ownership proof; if a thief spends the Bitcoin, the thief would have to post matching collateral and wait 30 days before spending it. The owner could then reveal the proof and recover both the original Bitcoin and the thief’s collateral. Fields also sketches out two auctions to address abandoned wallets, but these mechanisms remain entirely hypothetical and would require quantum-safe wallets, new consensus rules, and an agreed activation schedule.

Source: Read the original article

Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
Telemac
Telemachttp://cryptoinfo.ch
Passionné de nouvelles technologies, j’explore l’univers de la blockchain et des cryptomonnaies pour partager l’actualité et les innovations du secteur.

Read More

Items