Fun

A ‘simple’ hard fork could subvert a quantum attack on Ethereum: Vitalik Buterin

News Feed - 2024-03-11 11:03:38

Tom Mitchelhill6 hours agoA ‘simple’ hard fork could subvert a quantum attack on Ethereum: Vitalik ButerinThe technology required to make Ethereum immune from a quantum attack could be developed starting “tomorrow,” said Buterin.3590 Total views21 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksEthereum is already “well-positioned” to mitigate the impact of a massive quantum computing attack on the network, according to Ethereum co-founder Vitalik Buterin.


In a March 9 post to Ethereum Research, Buterin discussed what would happen if a “quantum emergency” happened as early as tomorrow.


“Suppose that it is announced tomorrow that quantum computers are available, and bad actors already have access to them and are able to use them to steal users’ funds,” Buterin postulated.“I argue that actually, we are already well-positioned to make a pretty simple recovery fork to deal with such a situation.”


“The blockchain would have to hard fork and users would have to download new wallet software, but few users would lose their funds,” he added.


Buterin explained that the process of such a hard fork would involve rolling back the Ethereum network to the point where it is clear that “large-scale theft” was occurring and disabling all traditional transactions from that point.


Ethereum developers would then add a new transaction type — which forms part of the Ethereum Improvement Proposal (EIP) 7560 — to allow transactions from smart contract wallets.Buterin’s breakdown of the EIP required to prevent a quantum-related exploit on Ethereum. Source: Ethereum Research


When a user makes a transaction from their Ethereum wallet, the signature of that transaction reveals the public key, and in a “post-quantum world,” this would see the user’s private key revealed as well.


The new transaction type that forms the core part of the quantum-resist EIP would leverage Winternitz signatures and zero-knowledge proof technologies known as “STARKs” to ensure that existing wallets are switched to new validation code, he added.An anonymous user shared an illustrated diagram of Buterin’s theoretical EIP. Source: Ethereum Research


This validation code leverages ERC-4337 account abstraction — the underlying technology of smart contract wallets — to prevent private keys from being displayed while signing transactions in the future, rendering these accounts immune from a quantum attack.


Related: Ethereum leans into rollup-centric future as Dencun hard fork looms


According to Buterin, users who have never approved a transaction from an Ethereum wallet are “already safe” from any potential quantum-related exploit, as only the wallet address has ever been made publicly available.


He also added that the infrastructure needed to implement such as hard fork “could in principle start to be built tomorrow.”


The advent of quantum computing has been a long-feared inflection point for the crypto industry, as a computer capable of breaking blockchain encryption could see once-untouchable user funds stolen in large volumes and at rapid rates.


However, most computer scientists and developers believe that quantum computing is still a ways off, with Google and IBM engineers estimating that quantum computing won’t be sufficiently developed until 2029 at the earliest.


Magazine:Google to fix diversity-borked Gemini AI, ChatGPT goes insane: AI Eye# Blockchain# Security# Ethereum# Supercomputer# Fork# Hard Fork# Cybersecurity# Quantum ComputingAdd reactionAdd reaction

News Feed

Ethereum Trades Inside A Multi-Year Bullish Pennant – Analyst Sees A Breakout Above $4K
Este artículo también está disponible en español. Ethereum experienced one of the craziest days in its history last Monday, plunging over 30% in less than 24 hours amid w
Cryptocurrency ETFs: SEC Wants to Facilitate Tokenized Products
Cryptocurrency ETFs: SEC Wants to Facilitate Tokenized Products The U.S. Securities and Exchange Commission (SEC) wants to facilitate tokenized exchange-traded f
Japan’s GameFi community raises liquidity concerns with lawmaker
Arijit Sarkar27 minutes agoJapan’s GameFi community raises liquidity concerns with lawmakerLiberal Democratic Party of Japan was told that strict regulations are drying up the liquidity of the Japanese crypto markets.3
Biggest Movers: ADA Climbs to 11-Week High, as Crypto Markets React to US GDP Data
Biggest Movers: ADA Climbs to 11-Week High, as Crypto Markets React to US GDP Data Cardano raced to an 11-week high on Thursday, as markets reacted to data showing that gross domes
Coinbase argues for spot Ether ETFs as analysts warn of ‘concentration risk’
Martin Young3 hours agoCoinbase argues for spot Ether ETFs as analysts warn of ‘concentration risk’“Our letter lays out what anyone knows who’s paid even the slightest bit of attention to the subject: ETH is not
Jesse Coghlan5 hours agoCrypto ‘regulatory approach isn’t needed now’ — New Zealand central bankHowever, the Reserve Bank of New Zealand also said that crypto and stablecoins should be more closely monitored.2065
Solana Slips To $209: Rising Bearish Pressure Threatens Key Support
Este artículo también está disponible en español. Solana is navigating a critical juncture as its price edges toward the $209 mark under increasing bearish pressure. Rece
The Tell Tale Signs of a Scam Crypto Website: Bitcoin-Up.Live
The Tell Tale Signs of a Scam Crypto Website: Bitcoin-Up.LiveFrom late March 2020, when the global pandemic Covid-19 paralysed many economies, the appeal of cryptocurrencies has gro
Blockchain and Cryptocurrency Is ‘Here to Stay and Impossible to Regulate at Large’ — CEO of a United Arab Emirates Based Bank
Blockchain and Cryptocurrency Is "Here to Stay and Impossible to Regulate at Large" — CEO of a United Arab Emirates Based Bank According to the chief executive officer (CEO) of t
Publicly Listed Bitcoin Miner Marathon Purchases 30,000 Mining Rigs from Bitmain
Publicly Listed Bitcoin Miner Marathon Purchases 30,000 Mining Rigs from Bitmain On Monday, the publicly listed bitcoin mining firm Marathon Digital Holdings ann
Nigerian CBDC Still Not Widely Used a Year After Launch
Nigerian CBDC Still Not Widely Used a Year After Launch On October 25, Nigeria commemorated the first anniversary of the Central Bank of Nigeria’s e-naira, even as more resid
Relatively Unknown Protocols Push TVL in Defi Above the $200 Billion Range
Relatively Unknown Protocols Push TVL in Defi Above the $200 Billion Range On February 15, the total value locked (TVL) in decentralized finance (defi) platforms is just above the