Jameson Lopp was the chief security officer of Bitcoin.BTCThe custody firm Casa recently advocated against the possibility of recovering lost BTC in full and suggested that the best option was to burn the coins, which would protect the integrity the protocol.
Lopp believes that allowing institutions or individuals to with quantum computers to recover lost coins This is a violation of the Bitcoin properties, such as transaction immutability and censorship-resistance.
On March 16, articleThe crypto executive stated that quantum recovery was not beneficial to anyone. Lopp said:
“Allowing quantum recovery of bitcoin is tantamount to wealth redistribution. What we would be allowing is for bitcoin to be redistributed from those who are ignorant of quantum computers to those who have won the technological race to acquire quantum computers.”
“It is hard to see a bright side to that scenario,” The executive went on to say that the quantum recovery could only be detrimental to the Bitcoin network’s security.
You can also find out more about the following: threat posed by quantum computers Bitcoin remains a controversial topic. Some argue that Bitcoin has no value. threat to modern encryption is decades awaySome say that quantum computing will never become practical. Others warn that the danger is near.
Jameson Lopp speaks about the quantum computer risks at the Future of Bitcoin Conference, 2024. Source: Future of Bitcoin Conference
Related: Crypto, quantum computing on collision course as Microsoft debuts new chip
The Great Quantum Scare of 2024
Researchers at Shanghai University will be conducting research in October 2024. claimed they broke encryption standards A quantum computer is used to run military and financial applications.
The YouTuber “Mental Outlaw” Later, the researchers claimed that these claims had been exaggerated. did not break modern encryption standards.
According to the YouTuber, the team’s quantum computer could factorize only 2,269 753, which was a record-breaking feat for quantum computers. However, it still lacked behind other classical computers.
Mental Outlaw noted that, although the device was capable of breaking a 22 bit key, the computer used to set the record could break an 892 bit key.
Modern encryption keys can have a size between 2048 and 4096 bits. They may be extended in the near future, to increase their security.
Magazine: Bitcoin vs. the quantum computer threat: Timeline and solutions (2025–2035)
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Source: cointelegraph.com
