Bitcoin and the myth of the only quantum attacker

One day, a malignant figure with privileged and anticipated access to a quantum computer capable of computing millions of logical chips, will break the SHA-256 algorithm, the cryptography piece that protects the private keys of all the world’s bitcoins. As by the work of the precise coup of an almighty demiurge, confidence in the cryptoactive will be destroyed in seconds, while the bitcoiner mass escapes the network and sees the most monstrous capital drainage of history occurs.

Although sometimes elusive, it is not difficult to recognize the presence of a myth when it appears. He is recognized for his lack of nuances; To decorate, with the resource of excess, an imaginary scenario, of the past or the future, with a poor color palette.

The erebo is all ash and black. Hell, monochrome red and orange lava. When it is optimistic, gold and blue, like the city of gold that marveled at Candido and Pangloss. The emotional tone in the image of a myth is unitary, and only becomes abruptly to its opposite to illustrate a moral. It does not house coexistence that are not parallel: it is joy and happiness; or oppression and fear. But almost never a mixture, because the myth does not suffer divisions: it is a global, and globalizing entity. It depends on the excess, because to fill the conviction you must hide the natural varieties that touch the timbre to reality, rich and also excessively dressed, but in attire of complexity.

The myth narrated at the beginning does not represent the exact way we think about Bitcoin and quantum computing (QC), but provides a mold that lists some loose thoughts that we have About the topic when we do not reflect conscientiously.

This myth contains at least five presuppositions that can be criticized, doubting or completely disassembling.

Bitcoin presuppositions and QC

Criticisms of presuppositions

1. A single person or group will have early access to quantum computing.

While it is not impossible for a unique entity to be ahead of the rest obtaining privileged access to high -level quantum computing, the adoption of technologies almost never follows this pattern. According to the theory of the innovations adoption curve of Everett Rogersof the total adopters of a given technology, around 2.5% are innovative, that is, first -time creators and researchers who develop technology Sometimes they fight with each other for recognition and a market share.

Therefore, several high capacity quantum computers are more likely to be developed in parallel, distributing the quantum power available among multiple cells and individuals. This is the case, in fact, currently: while Google works in its Willow, Microsoft, Intel and IBM and Ionq and Ion chip build quantum technology, each in its bases of operations.

2. That person or group will have an evil intention

If the previous presupposition were false, it is still impossible to ensure that the quantum computing demiurgos will have an evil attitude, from the beginning, against the SHA-256 algorithm of Bitcoin. Who can deny that there are significant probabilities, even if they are not 50%, that it happens just the opposite, and the demiurge of the QC wants to protect Bitcoin, or simply act as a Deus absconditus disinterested, And your technology does not completely the same?

3. The malignant entity will have Bitcoin attack, specifically

Let us presuppose that the demiurge Yes it has Malignan intention, in which case a universe of systems with gigantic digital cryptography, including Bitcoin, will have at your mercy. Banking systems, business bases of companies and governments, classified files, digital libraries, social media accounts of Hollywood actors could also chop their interest. Why, then, Bitcoin? It is a wild presupposition that the evil entity with anticipated access to the QC will hate Bitcoin and wants to break it. Unless, of course, it is true that the main universal engine of will is money, in which case Bitcoin can fear for his life.

4. Bitcoin will be helpless at the time a quantum attack is unleashed

As the technologies adoption pattern does not favor a single person or entity, but to a pool Of pioneers, researchers and inventors, it is innocent to think that one or more of them could not use this technology to defend the Bitcoin cryptography of others who do want to break it. According to Dr. Joseph Kearney, a researcher at the University of Kent, Bitcoin’s mining infrastructure could be using “quantum hashrate” as late as in 2046. That is, a cohort of mining and intelligent Bitcoiners developers would know how to make use of the QC to improve the efficiency, capacity, power and the defense of Bitcoin against malignant actors.

5. There will be an unprecedented drainage of money saved in Bitcoin.

If a demiurge of such magnitude existed (which does not do so), it does not indicate that it would be almighty. A certain group of old Bitcoin keys such as those that work with P2PK scripts (Pay-to-Public-Key) They would be especially vulnerable.

Jameson LOPP urges to burn the BTC housed in those keys, as a form of damage control against a future quantum attack. Other keys associated with addresses without too much footprint in the Bitcoin accounting record would go unnoticed in an attack. The addresses that migrate to quantum repellent scripts would not suffer damage.

In summary, an attack of this class, although it can hurt confidence in cryptoactive and cause significant economic lossesdoes not have to assume the end of Bitcoin. The damage could be located.

Discharge of responsibility: The views and opinions expressed in this article belong to its author and do not necessarily reflect those of cryptootics. The author’s opinion is informatively and under no circumstances constitutes an investment recommendation or financial advice.