delvingbitcoin
op_CAT vs op_CTV vs XMR
Posted on: December 30, 2024 15:15 UTC
The discourse emphasizes the current state of cryptocurrency technologies, particularly focusing on their vulnerability to quantum computing threats and the steps being taken to mitigate these risks.
It highlights that most existing cryptographic methods, including those employed by Bitcoin, are not post-quantum secure. This means that someone with access to a quantum computer could potentially exploit these cryptographic systems, posing significant security risks. The conversation points out that while CheckTemplateVerify (CTV) might be as quantum-resistant as SHA256, other scaling solutions heavily rely on Taproot Schnorr signature aggregation, which is not quantum-resistant. Specifically, it's noted that the blind Schnorr electronic cash system could be exploited to create unlimited funds by an adversary with quantum capabilities.
Monero is mentioned as a cryptocurrency that is actively working towards enhancing its security against quantum threats. It is undertaking efforts to improve privacy and provide forward secrecy in preparation for a post-quantum world through the implementation of FCMP++ and other updates. These endeavors are reportedly on track to be completed within the next three years, showcasing a proactive approach to addressing the challenges posed by quantum computing.
However, the overall sentiment expressed is one of concern regarding the pace and direction of development in the broader Bitcoin community with respect to post-quantum security. There is an acknowledgment that efforts are underway to develop post-quantum cryptography (PQC) for Bitcoin, but these efforts are criticized for being anti-scaling and lacking a clear, realistic plan for migration. This critique underscores the urgency and complexity of preparing cryptographic systems for the advent of quantum computing, suggesting that more focused and efficient strategies are needed.
Lastly, there's a suggestion to move the discussion from Protocol Design to Philosophy, implying that the conversation about quantum readiness transcends technical design issues and delves into the philosophical implications of securing cryptocurrencies against future technological advancements.