The emergence of quantum computers capable of breaking mainstream public key cryptosystems (CRQC) is unlikely within the next decade, according to recent analysis. The more immediate risks stem from existing vulnerabilities and implementation security issues. The article highlights the distinction between quantum risks to encryption and digital signatures. While data requiring long-term confidentiality should adopt post-quantum encryption to prevent 'collect now, decrypt later' attacks, blockchain's reliance on digital signatures does not face the same urgency. Hasty migration could introduce greater risks due to performance, complexity, and implementation flaws.
For blockchain, particularly Bitcoin, the focus should be on careful planning and gradual post-quantum migration. Bitcoin's slow governance and the presence of potentially 'abandoned and exposed public key' assets necessitate early strategy formulation. The overarching principle is to take quantum threats seriously but avoid premature and costly migration due to misjudged timelines.
Quantum Computers Pose Low Immediate Threat to Blockchain Security
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