Charles Guilmet, chief expertise officer at {hardware} pockets big Ledger, stated it’s unlikely {that a} quantum laptop will be capable to break Bitcoin’s present encryption.
Nonetheless, Guillemet believes that such a black swan occasion shouldn’t be not possible and that the quantum menace shouldn’t be ignored.
“Good” resolution
Guilmet argued that he helps aggressively upgrading the present Bitcoin protocol to make sure it stays quantum-proof. This requires defining “migration routes” that embody cash presumed to have been misplaced (reminiscent of Satoshi Nakamoto’s huge stash of 1.1 million cash).
Guilmet warns that such migration comes with trade-offs. Ledger’s CTO cautioned that lattice-based encryption, which is taken into account a robust candidate for quantum-proof encryption, continues to be comparatively new and unproven. “Lattice-based post-quantum cryptography has not but stood the take a look at of time, and hash-based schemes really feel outdated,” Guilmet says.
Moreover, he notes that quantum-resistant schemes could not work effectively with present BIP32 constructions.
