StarkWare research Avihu Levi has performed the first ever quantum-resistant Bitcoin transaction.
StarkWare claims that the transaction took place on September 30, 2009. confirmed The block for Wednesday is 964,199. Onchain data indicates that the 10,000 satoshis were protected under Levy’s Quantum Safe Bitcoin Scheme (QSB), and MARA Pool was mining the block once it received the transaction using its Slipstream Service.
Levy’s paper and Code Repository said QSB is a combination of hash-based, one-time-signature and computational searches to link an authorisation with a particular transaction. This construction is designed to stop forgery, even if quantum computers break the cryptography used by Bitcoin.
This test transforms Levy’s proposal of April into an onchain demo, demonstrating that Bitcoin’s current consensus rules are able to accommodate a form quantum-resistant expenditure without any protocol changes.
Bitcoin’s quantum-resistant method is still expensive
Google scientists estimated in March that, theoretically, a quantum computing device capable of performing the calculations would be able to decrypt data. derive a Bitcoin private key nine to 12 minutes Once its public keys are visible, you can use it. Google stated that this could enable an attacker to substitute a transaction pending during Bitcoin’s confirm window.
Levy introduced QSB in AprilHe estimated at that time that the GPU would be required to generate a single transaction. He said it was a “last-resort” measure, not a substitute for protocol level protections.
Nathan Jeffay, a spokesperson for StarkWare, told Cointelegraph the transaction costs “low hundreds of dollars,” The estimated cost is between $150 and $200. StarkWare said in its release that the calculation process required hours.
Related: Banks, regulators join quantum-resistant crypto transfer pilot
Levy’s repository classifies QSB as nonstandard transactions under Bitcoin Core’s default relay policy. StarkWare stated that ordinary nodes would therefore not propagate the transactions before confirmation. They require it to be sent directly through MARA’s Slipstream Service.
QSB is only applicable to Bitcoin transactions, not the entire network. “A soft fork should happen, and I believe it will,” StarkWare’s CEO Eli Ben-Sasson added that QSB is a safety-net while protocols-level protections develop.
Bitcoin developers have separate proposals, including BIP-360. proposed Soft fork which would allow Pay-to Merkle-Root to be the output while eliminating Taproot’s key path spend that is quantum vulnerable.
Magazine: Supply absorption ‘key question’ as Bitcoin fails to reclaim $80K: Analysis
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
