computer science, quantum computing, and cryptocurrency. The future of crypto is #QuantumResistant
Feb 10, 2021 • 21 tweets • 6 min read
Thread explaining the future threat to #Bitcoin from #QuantumComputing -- How big a deal is it really? What is the timeline? And how do the Bitcoin devs plan to deal with it?
In a sentence, the threat is that quantum computers will eventually be able to break Bitcoin’s current digital signatures, which could render the network insecure & cause it to lose value.
Why isn’t the solution as trivial as simply upgrading the signatures? Decentralization. 2/
Jan 30, 2019 • 29 tweets • 8 min read
1/ A reasonable investor might look at the uniquely quantum-resistant coin, QRL, and think it’s pointless to bet on it being successful because
1⃣Quantum Computing won’t be a problem for >10yrs if ever
2⃣BTC & others will adopt QR anyways
ITT: we critically evaluate that thesis
2/ [QC won’t be a problem for >10yrs if ever]- The first part is likely true (see
). Don’t believe the hype. It could take as long as 20-30yrs. Almost NO chance it's <5. But here we run into two KEY misconceptions. First: 'QC may never come to fruition'
Jan 7, 2019 • 16 tweets • 4 min read
1/ A thread on the timeline for the arrival of Quantum Computers powerful enough to threaten the 256-bit ECDSA signatures that underpin #Bitcoin. We’ll hear a whole range of predictions from optimists and pessimists alike. Let's rock 💪
2/ Why care about this? Long story short, a powerful enough quantum computer could derive Bitcoin private keys from their respective public keys. A significant % of all bitcoin, namely Satoshi's wallet and others whose private keys are lost, are sitting ducks.
