With the advent of mature quantum technologies, many of the critical cryptographic protocols which secure the Internet, financial transactions and even military secrets may become susceptible to new attack vectors. For instance, while it may take a computer millions of years to decipher a public key’s corresponding private key, a sufficiently powerful quantum computer might achieve this in a reasonable amount of time. With this reality looming over us, many in the blockchain space worry that someone with access to a quantum computer might one day have the ability to steal their hard-earned crypto.
We’re joined by Ajay Prakash and Gavin Brennen, founders of the Qubit Protocol, a decentralized blockchain-enabled governance protocol that is meant to select and fund the best startups in the quantum world. As a co-author of the recent paper ‘œQuantum attacks on bitcoin, and how to protect against them,’ Gavin walks us through the primary threats that quantum computing poses on bitcoin. Among the major vulnerabilities are hashing functions and Elliptic Curve algorithms used for digital signatures, both fundamental components of bitcoin, as well as many other blockchain protocols.
Topics discussed in this episode:
What are quantum technologies and how they differ from the existing paradigmThe areas and industries which are to benefit most from quantum computingA refresher on hashing algorithms as one-way functionsWhat a quantum attack on bitcoin mining might look likeHow Elliptic Curve digital signature algorithms work and how public and private keys are generatedThe three types of attacks a quantum computer could perform digital signaturesThe expected timelines for these attacks to be viableThe potential countermeasures which could circumvent quantum attacks on BitcoinThe Qubit Protocol as a DAO to fund quantum technology startups and the challenges of investing in the quantum spaceThe project’s roadmap and upcoming ICO
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On Today’s Episode…
Stephanie Murphy, Andreas Antonopoulos, Jonathan Mohan and Adam B. Levine sit down for their last recording before they’re all on-stage together in Chicago. ‚
This week, topics include: ‚
MtGox Back From the Dead?
Joking, but not Joking with Vitalik
India’s Latest Ban and what it could mean
This episode was sponsored by EasyDNS.com and featured content by Stephanie Murphy, Andreas Antonopoulos, Jonathan Mohan and Adam B. Levine. ‚
This episode was edited by Matthew Zipkin and Adam B. Levine, it also featured music by Jared Rubens and General Fuzz. ‚
Write to adam@letstalkbitcoin.com with questions or comments
Tonight we talk with Bryson C Hill about the Daplie. The Daplie has a 20 TB physical cloud storage that you have control over with an integrated Dapps Store as well as bitcoin wallet capabilities.
‚Sponsored by: , and
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Social Media
Tip with Crypto
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ETH: 0x10cfd6916832566e82b3ab38cc6741dfd7e6164fo
As promised in the last episode, Chadrick Mahaffey shares his presentation about EOS, the history behind it, the value proposition and why he is bullish on its mass adoption.
This is far from an exhaustive and authoritative treatise. It maybe even leaves one with more questions than answers. But it is a good foothold about the EOS platform as it is developing, and why an enterprise developer such as Chadrick could be excited about the possibilities of what should be enabled by it.
If you haven’t listened to episode #31, about SFEOS, don’t miss it. It highlights some of the uses to which Chadrick and others are looking to put EOS to work doing.
Music
Bumper music: Rocket Power by Kevin MacLeod.
Links
Chadrick’s contact email — sfeos@legacygameworks.com
