Opinion
Satoshi Nakamoto changed how to make money. In response to the collapse of the 2008 financial institutions in which millions of confidence was placed, Satoshi created a central, decentralized monetary system based on the encryption of the elliptical curve.
This combination of cold and decentralized mathematics was a strong group, not only attracting distinguished skeptics but also the largest financial institutions in the world, such as Blackrock.
During the 16 years of its presence, bitcoin has never been hacked. All this is about to change very soon, with quantum computing. This is the biggest threat to Bitcoin since its creation of the ashes of the global financial crisis.
Once firmly in the science fiction world, quantum computers have become so advanced that they can be reasonably torn by bitcoin encryption within five years or less. Some, such as Quantum Pundit Michele Mosca, Predispay This may be possible as soon as possible next year.
Government agencies such as the National Institute for Standards and Technology and the National Security Agency aim to fully move to safe quantum standards by 2030. However, Bitcoin community appears to be limited to theoretical solutions, such as the BIP-360 (paid to resistance) or commitment to commitment.
The time of theory has ended. If concrete steps are not taken to Bitcoin Blockchain now, the maximum market of $ 2.2 trillion may rise. Everything that might require will be one wallet at risk or failed treatment of 16 years of confidence in a scene.
The rise of supercomputations
This year’s penetration was the majoraana chip from Microsoft, which accelerated the timeline to create a really useful quantum computer from decades to years. In simple phrases, he did this by paving the way for developing and stable quantum systems – one of the main issues that stands in the way of this technological miracle.
Quickly a few months forward, and we currently find ourselves with about 100 pcs in the world already operating in the world. McKinsey Estimates There will be 5000 by 2030.
recently: Is Bitcoin’s future at risk of Thantum Tech?
This is a classic encryption killer, such as ECDSA algorithm that protects the special bitcoin keys. At least 30 % of the bitcoin, or about 6.2 million coins, are currently sitting in P2PK or P2PK addresses, which are particularly presented to this quantitative threat.
The violation will be catastrophic for their holders, whose money will disappear forever, and the ecosystems in general. It may prove that an unspeakable system can be broken. For this reason, Blackrock recently admitted the threat of the quantum to Bitcoin in the updated ETF file. For this reason it is time to work now, before it is too late.
Prepare for Q-Day
“Q-Day” is the term submitted for the day when the quantum computers are finally ready to break the traditional encryption. When this day comes, Bitcoin’s transactions can remain valid and secure today, or even 10 years ago, at risk because Blockchain is completely transparent, and data is still permanently available on the professor’s book forever.
Moreover, bad actors already collect encrypted data in preparation for Q-Day, in a move called “Harvest Now, deciphering later”. It will not be unreasonable to assume that many attacks can occur simultaneously around the world when the day comes. When this happens, it is better to be bitcoin ready.
The future after adults
The entire Blockchain upgrade problem lies from Legacy to Posttum encryption that it will require a solid fork, which has become almost prohibited in encryption communities. This huge step can break UX, liquidity of fragments, division of network risks and perhaps Ogs DieHard.
There are alternatives: hybrid solutions that focus on securing transactions first and foremost without touching the basic layer, layer safety models and managing a safe key, and the infrastructure that can prepare bitcoin for the attack that will definitely come.
It is not a quick solution. Especially given how the conservative and slowly bitcoin coin was. Unfortunately, there is no longer a time to waste it. Decisions must be made and solutions should be chosen because Bitcoin will not survive as they are in the future future.
Satoshi gave the world a new monetary system but never said that it could not develop. Now it comes to society to make the decision to develop it and prepare for the day of Q-Day, instead of waiting until it is too late. It is not the amount of the most important danger to bitcoin – it’s self -consent.
Opinion: David Carvalho, founder, CEO and chief scientist of Norris Protocol.
This article is intended for general information purposes and does not aim to be and should not be considered legal or investment advice. The opinions, ideas and opinions expressed here are alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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