Quantum threats, a long-debated topic in the crypto world, are once again in the spotlight, with notable developments regarding one developer.
Independent developer Avihu Levy has published research suggesting that Bitcoin transactions can be protected from quantum computers without making any changes to the current protocol.
The approach proposed by the developers does not require a soft fork or a network-wide consensus change. In this respect, it stands out as an alternative solution to the post-quantum update, which has been discussed for many years and is said to take several years.
Recently, the potential threat posed by quantum computers to cryptography has resurfaced. A study published by Google reveals that the threshold of quantum processing power required to crack Bitcoin’s cryptographic system could be significantly lowered. This development has reignited the “Q-Day” scenario in which quantum computers are expected to break through existing encryption systems.
The Bitcoin network uses ECDSA (Elliptic Curve Digital Signature Algorithm) to secure transactions. However, it is theoretically possible that a sufficiently powerful quantum computer could use Scholl’s algorithm to defeat this system and gain access to the private key from the public key. This poses a potential risk, especially for addresses that have previously processed transactions.
Currently proposed solutions, such as post-quantum upgrades like BIP 360, require broad network consensus and are considered to be slow processes to implement.
The method proposed by Avihu Levy moves security completely away from elliptic curves and toward hash-based structures. This solution uses a signature approach based on the RIPEMD-160 algorithm, which has been used since the birth of Bitcoin. In this model, transactions are verified with a one-time signature generated from a hash function.
This approach also incorporates the HORS method, a hash-based one-time signature system. Based on the assumption that quantum computers are ineffective at reversing hash functions, this system theoretically provides a robust structure against current quantum attacks.
Experts say quantum computers can target elliptic curves with the Scholl algorithm, but only with methods that have more limited effectiveness against hash functions, such as the Grover algorithm. Although this reduces the level of security, it is still very difficult to break through in practice.
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One of the most notable aspects of Levy’s solution is that it operates entirely within Bitcoin’s existing rules. This solution fits within the network’s scripting limits (10,000 bytes and maximum opcode limits) without requiring new opcodes or protocol changes.
However, this study is currently considered a “proof of concept.” The large transaction size makes it difficult to deploy on standard networks, and using cloud GPUs has been reported to cost between $75 and $150 per transaction. Additionally, it is stated that large-scale on-chain testing has not yet been conducted.
This development suggests that Bitcoin may be more resilient to quantum threats than previously thought, giving rise to two different views within the community. Some consider such a scenario to be “FUD” (Fear, Uncertainty, Doubt), while others argue that we should take precautions against potential risks.
*This is not investment advice.
