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People are losing their minds over the idea of quantum computing breaking Bitcoin, but the panic is largely detached from reality. If you listen to Eric Yakes, the fear-mongering is completely off base. The theoretical threat relies on quantum computers factoring large prime numbers fast enough to crack current...

15,241 views • 4 months ago •via X (Twitter)

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BITCOIN RAILS EPISODE #18: MAKE BITCOIN QUANTUM RESISTANT | with BIP360 author Hunter Beast Hunter Beast 🕯️ Quantum computing is a complicated topic—one that incites equal amounts of fear and skepticism depending on who you talk to… especially in Bitcoin. In this episode, BIP360 author Hunter Beast wisely shares why the “truth is likely somewhere in the middle,” citing incremental advancements in quantum computing that may eventually pose a legitimate threat to some Bitcoin addresses—as well as steps we can take to protect ourselves in the short, medium and long term. The correct posture is to “be prepared, not scared,” says Hunter Beast 🕯️ Ultimately, the introduction of quantum resistant cryptography—via proposals like BIP360—will be needed for higher degrees of security. That said, individuals can mitigate personal risk substantially through proper address-use hygiene. This episode breaks down the specific challenges Bitcoin will face in the event of a quantum attack, the likelihood of an attack over time, and the steps we’ll need to take at the individual and communal level to ensure Bitcoin’s safety. This episode includes detailed discussion of: 1) How quantum computing could potentially affect Bitcoin public/private key cryptography—and technologies built on vulnerable addresses (e.g. Taproot) 2) Best practices for protecting yourself against quantum in the short and long term 3) Implications of vulnerable address types—e.g. what about Satoshi’s coins? 4) Deep Dive into BIP360 + proposed long-term solutions 5) Industry roadmaps for quantum computing + how banks and governments are preparing for “Q Day” As always, this episode can be viewed on Spotify or YouTuve—full episode in the comments or linktree in my bio. This episode is powered by Best In Slot—the leading API for Ordinals and BRC20 data aggregation and indexing. TIMESTAMPS: 00:00 Intro 02:05 What is quantum computing? 04:30 How could quantum threaten your Bitcoin wallet? 06:50 Addresses that are safe from quantum 09:13 Satoshi’s coins are in danger! 11:25 What happens if Satoshi’s coins are touched? 14:45 Do we softfork to shield Satoshi’s coins? 16:38 “Transitory inflation” for bitcoin after quantum 21:05 Why Taproot addresses are vulnerable 23:50 Do NOT reuse your Bitcoin addresses! 26:03 When will Quantum become a threat? 28:34 The long/short exposure attack; explained 31:45 Protection using private mempools 33:20 Why all the new Bitcoin L2s are in danger 37:45 Quantum is 5 to 10 years away, governments fear 40:34 Non-Bitcoin systems threatened by quantum 42:26 Centralized systems can adapt to quantum 43:50 Hunter’s BIP: Post quantum cryptography in Bitcoin 47:40 Hunter’s three new signature algorithms 53:48 Is new cryptography on Bitcoin risky? 56:33 Why not just stick to hash-based cryptography? 58:49 A 16X discount for quantum resistant addresses? 01:02:30 Creating quantum resistant multisig addresses 01:04:00 What is Frost? 01:06:50 The long process of approving a BIP 01:08:30 What developers think of Hunter’s BIP 01:10:00 Matt Corallo’s concerns with Hunter’s approach 01:11:00 Steps to implementing the BIP 360 01:17:00 Where to learn more about BIP 360 01:17:50 Who can push the button to change Bitcoin?

Isabel Foxen Duke⚡️

31,130 views • 1 year ago

The Google and Caltech quantum papers demonstrated 2 breakthroughs: that Bitcoin cryptography is much easier to break than previously thought, and that far fewer logical qubits may be necessary for physical qubits. Project Eleven CEO Alex Pruden explains: "These two papers are not necessarily about a quantum computer that's bigger or more capable. They're about what it takes to break cryptography." "So what changed? One of the things that changed was that physicists and quantum cryptographers that looked at this problem for a long time studied an algorithm called RSA — an older cryptographic algorithm." "But that's not what really any blockchains use, because RSA keys are very large. It turns out, and this was one of the key upshots of the Google paper, that if you focus on the cryptography used by Bitcoin, Ethereum, and other networks, it's actually way easier to break than they thought it was, compared to RSA." "The other big breakthrough, and this is from the Caltech paper: Quantum computers are very fragile, generally. So to be useful, they need to have what's called error correction applied. And that can result in a lot of overhead. You need to have tons of physical qubits to get to one logical qubit." "This Caltech paper basically showed, 'Hey, we have some new ideas for error correction. And it turns out if we apply those, we don't need hundreds or thousands of physical qubits, maybe we just need a handful to make one logical cubit.'" "The headline of their paper is 'You may only need 10,000 physical qubits to run Shor's algorithm.' And by the way, they demonstrated 6,000 last year."

TBPN

16,456 views • 3 months ago

6,100-Qubit Processor Shatters Quantum Computing Record | David Nield, ScienceAlert Another major quantum computing record has been broken, and by a considerable margin: physicists have now built an array containing 6,100 qubits, the largest of its type and way above the thousand or so qubits previous systems contained. It's the work of scientists from the California Institute of Technology, who used cesium atoms as their qubits, trapping them in place with a complex system of lasers that acted as tweezers to keep the atoms as stable as possible. Qubits differ from the classical bits of traditional computers by exploiting what's known as a superposition: not just binary states of 1 or 0, but a spread of probabilities that allows for algorithms that can solve problems considered out of reach of conventional computing methods. Related: Quantum Advantage: A Physicist Explains The Future of Computers A lot of qubits will be needed to make quantum algorithms practical, however. One reason for these large arrays is error correction, which helps overcome the inherent fragility of the qubit by providing a surplus to double-check the machine's operation. "This is an exciting moment for neutral-atom quantum computing," says physicist Manuel Endres. "We can now see a pathway to large error-corrected quantum computers. The building blocks are in place." There was no single breakthrough that enabled this jump in qubit numbers, but rather a series of engineering advancements in many key areas – from the laser tweezers to the ultra-high (very low pressure) vacuum chamber. Stability has also been a problem for quantum computing systems. The innovations in this latest array kept qubits in a superposition state for almost 13 seconds – almost ten times longer than previous configurations had managed. What's more, individual qubits could be manipulated with 99.98 percent accuracy, establishing a significant benchmark in the programmability of quantum technology. "Large scale, with more atoms, is often thought to come at the expense of accuracy, but our results show that we can do both," says physicist Gyohei Nomura. "Qubits aren't useful without quality. Now we have quantity and quality." To make quantum computers a practical alternative to modern supercomputers, more qubits and even greater levels of stability will be required. Experts are tackling the problem from several different angles, which is why records for some types of quantum computer don't necessarily apply to others. Next, the researchers need to work on exploiting entanglement, which will enable the system to make the leap from storing information to actually processing it. Not too far in the future, we could be using these computers to discover new materials, matter, and fundamental laws of physics. "It's exciting that we are creating machines to help us learn about the Universe in ways that only quantum mechanics can teach us," says physicist Hannah Manetsch. Read more:

Owen Gregorian

43,078 views • 9 months ago

BITCOIN RAILS #34: Bitcoin’s Security & Quantum Risks—and the Future of Satoshi’s Coins | with Jameson Lopp Jameson Lopp “Most people don’t think about security until it’s too late,” says the Casa co-founder and CSO. One of the most prolific thought-leaders in Bitcoin security and privacy, there are few people who understand the nuances of Bitcoin security quite as deeply - not to mention the OPSEC practices required to protect against wrench attacks, for instance, which are rising globally as Bitcoin price increases. More recently, Lopp has turned his attention to mitigating Bitcoin’s quantum vulnerabilities, including market risks associated with quantum-vulnerable Satoshi’s Coins + longer-term strategies for quantum-hardening of Bitcoin addresses long term. In this special episode of Bitcoin Rails, we cover: - Lopp’s experiences designing self-custody products at both BitGo and Casa - The swatting attack he suffered in 2017, and the radical steps he’s taken to secure his home location since - The ‘quantum computing’ challenge for Bitcoin and its impacts on Satoshi’s Coins - How the network may respond to QCs in the face of ossification and why QC preparation may be the hardest governance test the network has ever faced This episode is powered by: - Best In Slot (Best in Slot | BRC2.0 🧑‍🍳), the leading API for Ordinals and BRC20 data aggregation and indexing - Spark (Lightspark), a statechains implementation leading the path towards institutional adoption of Bitcoin-powered payments - Citrea (Citrea), the leading Bitcoin Rollup technology and contributor to the BitVM alliance 📌 Timestamps 00:00 – Intro: Quantum Computing Meets Bitcoin 00:19 – Jameson Lopp on the Bitcoin Rails 00:53 – The Quantum Threat to Bitcoin Security 06:32 – Lopp’s Path into Bitcoin & Security 12:58 – The Swatting Attack During the Block Size Wars 25:28 – Could Quantum Crack Satoshi’s Coins? 43:55 – Announcements & Sponsors Messages 45:30 – Building Bitcoin’s Quantum Resistance 47:00 – QBTC and the Push for Quantum-Resistant Bitcoin 48:43 – Why Changing Bitcoin Is So Hard 51:19 – Email Protocols, Ossification, and Bitcoin’s Future 01:01:53 – A Roadmap for Quantum Resistance

Isabel Foxen Duke⚡️

14,538 views • 10 months ago

BITCOIN RAILS #59: Post-Quantum Bitcoin Signatures (+ their tradeoffs) | with BIP 360 co-author Ethan ✨ is on BlueSky✨ Heilman 🐱 and Blockstream Head of Research Jonas Nick 🔗 YOUTUBE: 🌿 SPOTIFY: According to BIP 360 co-author Ethan Heilman, Bitcoin needs a minimum of two soft forks to become quantum resistant: P2MR (or an output type that can safely execute PQ signatures) + a post-quantum checksig (signature scheme). Ethan and the BIP 360 team (including myself and Hunter Beast 🕯️) introduced the P2MR part via a BIP 360 update late last year—but the question remains, what’s the most appropriate PQ signature scheme for Bitcoin? They all have substantive tradeoffs, but hash-based signatures seem to be leading technical discourse—likely due to recent optimizations by Jonas Nick and the broader Blockstream research team. It was an honor to sit down with both of these men - arguably the two most influential and productive cryptographers in Bitcoin quantum mitigation right now - for an in-depth review of the leading PQ signature schemes and a temperature check on Bitcoin’s post-quantum planning process. TBH, if you want to skip the noise and jump straight to the signal on quantum, this is the interview to watch. In this episode, we discuss: - What needs to happen at the soft fork, infra, and mitigation levels to fully quantum-harden Bitcoin - Recent updates to BIP 360 + breakdown of the leading hash-based signatures schemes for Bitcoin (SHRINCS + SHRIMPS) - Why we may actually get consensus around a stateful scheme for Bitcoin - Comparisons of hash-based signatures vs Lattice and Isogeny-based schemes - Assessing the risks of both waiting too long and acting too fast (and why quantum is a better threat to be facing than a potential classical attack) This episode of Bitcoin Rails is brought to you by my NEW sponsors: - LayerTwo Labs LayerTwo Labs — developing research, software, and technologies for scaling Bitcoin via the integration of Drivechains (BIP 300/301) - Hashi on Sui — a primitive for executing Bitcoin Defi transactions, without having to trust a federated bridge or other centralized entity - BitBox BitBox — an open-source Bitcoin-only hardware wallet, with smooth UX and no compromises on security. Check out Bitbox [dot] swiss and use code BITCOINRAILS to get a discount TIMESTAMPS: 00:00 Intro 02:18 Ethan’s Quantum Wakeup 05:18 How Blockstream Enters Post Quantum 09:25 BIP 360 Explained 12:11 How Bitcoin Transitions to PQ 17:35 Choosing Post Quantum Signatures 23:20 How Blockstream Created SHRINCS 27:22 Signature Budgets Importance Explained 41:13 What are SHRIMPS? 44:51 SHRIMPS vs SHRINCS 47:48 Why SLH-DSA Alone Won’t Cut It 49:24 Is a SHRIMPS + SHRINCS BIP Coming? 51:51 Blockstream’s Big Plans for Liquid 59:04 Quantum Readiness Roadmap 01:02:22 Importance of a PQ Recovery Plan 01:05:35 How Long Would a PQ Migration Take 01:11:17 Quantum Watchlist Recommendations

Isabel Foxen Duke⚡️

23,783 views • 2 months ago