Not worried at all. Cracking sha256 would render everything on the internet insecure.
If they can do bip for taproot and segwit, they can do one to save Bitcoin by aligning encryption to new standards.
Advances in Quantum Computing is happening at steady rapid pace. Some day the paradigm will evolve to an extent where it will have an impact on Bitcoin security.
I wonder if there is anyone or group working/keeping track of these impacts and working towards making Bitcoin Quantum Safe.
https://www.cbsnews.com/video/quantum-computing-sunday-on-60-minutes/
Discussion
agree. it is the drama around the bip and the gyrations and time it takes. I am wondering if there is someone already working towards it or has a bip in works.
I think quantum is further out than the media and nvidia would like you to believe.
I don’t know anyone specifically working on it, but I’m sure in general people are working on alternatives to sha256
for example, any impact of how Lightning will work then - is it Quantum Safe already or has a roadmap....there are always lots of adjacent areas that are impacted.
One thing someone once pointed out was, if we had to update the blockchain, address would have to be updated, or they would be hacked. And so what about Satoshi’s stash..
I’m still confident solutions will be discovered.