Hi, I used to work as a technical full-stack developer and recently I spent some time investigating this thing everyone's talking about "Quantum computing destroying encryption". Well, there are many remedies already available:
Example 1 – for not technical people: https://www.nist.gov/news-events/news/2024/08/nist-releases-first-3-finalized-post-quantum-encryption-standards
Example 2 – for technical people: https://github.com/open-quantum-safe/oqs-provider
Most companies / IT projects are not prioritising it only because quantum computing threads might be decades away, and businesses don't execute investments on security unless there is a true threat. That's why your email providers, messaging apps, etc. don't have post-quantum standards implemented (such as: ml-dsa, ml-kem, slh-dsa).
Yes. It is more complicated to secure decentralized Crypto than a website, but – anyway most of us use platforms like CoinBase, Kraken, Binance, .. and those holding crypto in one-single physical wallet – are not really the targets here.
Anyhow, please, I hope my post helps some of you to be a bit calmer about this topic. I am definitely calmer after my research. Let's not cause panic sell-off.
Have a great day everyone!
Quantum – is it really that dangerous? No…
byu/ForwardByNature inethereum
Posted by ForwardByNature
2 Comments
There’s no proof that the quantum computer will scale linearly, we dont even have 1k qbits yet and curent computers with pitful amount of qbits aren’t even free of errors, it’s all smoke and mirrors for now, it’s like getting hyped over flying cars that float for few second and crash afterwards.
I you can spare a bit more time, you could refine your knowledge.
There have been some significant breakthroughs that have shifted the timeline a bit and there is a non-negligible chance that we see the first relevant quantum computer early next decade.
I recommend this episode of the bankless pocast: [https://www.bankless.com/de/podcast/ethereums-quantum-strategy](https://www.bankless.com/de/podcast/ethereums-quantum-strategy)
Justin Drake who is a researcher/developer for the Ethereum foundation sums it up. Quantum IS a thing, it it likely NOT many decades away and the stuff proposed by NIST does not work for crypto because of the sheer number of necessary signatures/proofs.
However, Ethereum has a plan. It’s just not trivial to implement. Bottom line:
Anyhow, please, I hope my post helps some of you to be a bit calmer about this topic. I am definitely calmer after my research. Let’s not cause panic sell-off.
Have a great day everyone!