How to prepare if Quantum Computing breaks Ethereum and Bitcoin within the next few years
Vitalik Buterin sounded a warning at the Devconnect conference that elliptic curve cryptography could be broken by quantum computing before the 2028. So what can developers do to prepare themselves for this eventuality?
The main concern is with the elliptic-curve cryptography (ECC). This is used by Ethereum and Bitcoin for keypairs. An insanely powerful quantum computer, which runs Shor´s algorithm, could ostensibly extract private keys from public keys, providing existential wallet security risks.
Buterin has been worked on recovery hard fork plan of some sort, in case this does occur. Part of this plan involves Winternitz signatures + STARKs, which will migrate the wallets to a quantum-safe mode of sorts.
He has also recommended the “Splurge” phase of the Ethereum long term roadmap which concentrates on advanced cryptography.
If you´re developer of an existing or future project, these are some of the areas you could itemise as a priority;
Implement Post-Quantum Cryptography (PQC)
Work on the integration of quantum-safe schemes via way of STARKs or other potential zk-proof systems.
Protocol-Level Changes
Test, iterate and provide feedback to recovery fork changes, adhering to Buterin´s plan.
Wallet Developments
Contribute towards wallet development, nodes and infrastructure of the quantum-resistant.
Community Support
Participate in working groups revolved around post-quantum cryptography.
Monitoring
Track and study developments in quantum computing and resistant cryptography.