The Mining Pod | Bitcoin Mining News Bitcoin's Solution To Quantum Computing
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Dec 22, 2024 Hunter Beast, a Coloradan Bitcoin developer and protocol engineer at Mara, discusses the exciting intersection of Bitcoin and quantum computing. He debunks common fears about quantum vulnerabilities while outlining genuine threats to Bitcoin's cryptographic security. The conversation dives into potential scenarios where Bitcoin may be at risk and the importance of operational security. Beast also explores proactive solutions and the ongoing debate on how Bitcoin should adapt to stay resilient against future challenges, including the evolution of soft forks.
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Quantum Computing Progress Explained
- Quantum computing is advancing from primitive early stages to more scalable logical qubits.
- This progress enables modeling complex systems like elliptic curve cryptography potentially vulnerable to attacks.
Government Drives Quantum Timeline
- The U.S. government is highly concerned about quantum threats.
- They plan to phase out elliptic curve cryptography by 2035 and transition to post-quantum cryptography.
Bitcoin Hashing vs Elliptic Curve Threat
- Bitcoin's proof-of-work hash function SHA-256 is quantum resistant to an extent.
- Grover's algorithm offers limited quantum speedup but breaking elliptic curve cryptography is easier.