How Do We Protect Bitcoin From Quantum Computers? Not With A Joke

Not too long ago, Undertaking Eleven (a quantum computing analysis group) introduced a 1 bitcoin reward for the primary crew capable of full a problem to exhibit breaking a ECC (elliptic curve cryptograph) key utilizing Shor’s algorithm on a quantum laptop. 

The deadline for this problem is April fifth, 2026, that means as a way to qualify for the prize a crew should exhibit breaking a key pair it should be performed earlier than that deadline. 

That is frankly a totally absurd and meaningless prize for quite a lot of causes, the primary of which is the deadline of slightly below a yr from at the moment. Even extremely optimistic projections concerning the progress of quantum computing put the timeline of virtually reaching such a aim at extra like 5-10 years. Anticipating a workable proof of idea demonstration that really breaks a keypair in a single yr is fairly laughable at face worth, even in the event you do view quantum computing as a fabric menace within the brief time period. 

Subsequent is the issue of financial incentives. A single bitcoin is presently value roughly $80,000. That’s frankly not some huge cash within the grand scheme of issues. Particularly with regards to the applying of a innovative know-how like quantum computing that may carry out a complete class of computation exponentially sooner than a classical laptop. Think about how rather more useful issues could possibly be performed with a working quantum laptop. 

You can snoop on web connections no matter TLS, breaking safe connections to banks, fairness brokerages, non-public company networks not utilizing post-quantum cryptography. You can break each non-public messenger utility on the planet, you can decrypt any PGP encrypted message despatched over electronic mail that you simply knew the general public key for. You can break the complete DNS system’s certificates authority hierarchy, permitting you to impersonate any server on this planet a person tries to hook up with. 

All of this stuff have immeasurable worth past only a mere $84,000. Why on Earth would somebody with a working quantum laptop publicly reveal that reality to say a single bitcoin once they may make the most of all these different issues they’d be able to doing?

Okay, let’s sweep all of these potentialities apart and faux the complete world magically migrates to post-quantum cryptography other than Bitcoin. It nonetheless is senseless to attempt to publicly declare this prize you probably have a purposeful quantum laptop. 

Let’s assume you could have a barely performant sufficient quantum laptop, that it takes a good period of time to crack a single key. What number of naked public keys are there securing 50 BTC outputs from the primary mining epoch? THOUSANDS of them. Why on Earth would you crack one, after which go inform everybody publicly to say a single bitcoin? You’ll simply attempt to crack as lots of these early coinbase rewards as attainable earlier than folks detected you. 

Lastly, the timetable by itself is simply absurd. Quantum computer systems presently usually are not even able to factoring prime numbers that individuals can do themselves of their heads mentally. In a single yr the know-how goes to leap from that to cracking Bitcoin keys? That’s absurd. 

So what the hell is the purpose of this prize besides some publicity stunt? It’s totally meaningless as a severe bounty to operate as a canary within the coalmine for us, regardless of how involved or unconcerned you might be with the timeframes of quantum computer systems as a menace. 

This bounty is a joke.

This text is a Take. Opinions expressed are totally the creator’s and don’t essentially mirror these of BTC Inc or Bitcoin Journal.