Vitalik Buterin, the co-founder of Ethereum, believes that Ethereum is well-prepared to defend against a potential quantum computing attack. He suggests a solution involving a hard fork of the blockchain and introducing new transaction types.
In a recent publication on Ethereum Research dated March 9, Buterin explored the hypothetical situation of a “quantum emergency” potentially arising as soon as tomorrow., “Suppose that it is announced tomorrow that quantum computers are available, and bad actors already have access to them and are able to use them to steal users’ funds.” Buterin argued that Ethereum is already “well-positioned” to give a strong defense against a potential quantum computing attack.
He proposed a simple solution involving a hard fork of the blockchain and introducing new transaction types. “The blockchain would have to hard fork and users would have to download new wallet software, but few users would lose their funds,” Buterin explained, outlining the process of recovery in the face of a quantum threat. According to him, the main challenge with quantum computers lies in their impact on cryptographic systems such as Ethereum addresses. These wallets are derived from private keys using elliptic curve multiplicatio
Ethereum Quantum Computing Vitalik Buterin Blockchain Cryptocurrency
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vitalik Buterin Opens Up on Ethereum's Strategy Against Quantum AttacksEthereum's co-founder Vitalik Buterin addresses quantum threats, proposing innovative safeguards for blockchain's security
Read more »
Charles Hoskinson Responds to Proposal of MMA Fight Against Vitalik ButerinCharles Hoskinson, the creator of Cardano, has responded to a recent proposal suggesting an MMA fight between him and Vitalik Buterin, co-founder of Ethereum. While the proposal initially seemed light-hearted, Hoskinson's response has brought a more serious tone to the conversation.
Read more »
ERC 6551 Ethereum Standard Changes Game in Ethereum NFTs: GuideHere's how one EIP can boost entire concept of non-fungible tokens in EVM blockchains
Read more »
Optimism Chains Ready for EIP 4844 Upgrade, Here's Why This Is Big DealEthereum-based L2s getting closer to most radical tech upgrade in Ethereum scaling history
Read more »
Bitcoin Shows 'Overheating Signal,' Major Correction Possible; SHIB Lead Issues Crucial BONE Call, Vitalik Buterin Shares Ethereum's Strategy Against Quantum Attacks: Crypto News Digest by U.TodayCheck out the latest crypto news over the weekend in U.Today's news digest
Read more »