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John Smith

@JSmith_Crypto

computer science, quantum computing, and cryptocurrency. The future of crypto is #QuantumResistant

Joined December 2018
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I've recently noticed an uptick in claims of "quantum resistance" from cryptocurrency projects. This thread explains how to differentiate which are BS and which are legit.
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A frank assessment of where we are right now with Bitcoin and quantum computing from a Bitcoin core developer.
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There is *extreme* skepticism about quantum computing among the most senior Bitcoin developers. From reading and listening to their opinions on it, they mostly believe it either isn't possible at all or won't be a real threat until after they're dead.
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The best case scenario for #Bitcoin with quantum computing: >QC progress is slow and public >A quantum-resistant signature is added years ahead of any real risk >Large majority of BTC migrate during that period >Community accepts burning all ECDSA coins without major controversy
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Under these conditions, there is absolutely zero existential risk related to QC and only marginal non-existential risk.
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Thread explaining the future threat to #Bitcoin from #QuantumComputing -- How big a deal is it really? What is the timeline? And how do the Bitcoin devs plan to deal with it?
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That sums up what I see as the main challenges & solutions for Bitcoin w/ regard to quantum computing. This thread glossed over a lot, so def take it more as a jumping-off point than as the final word on any of the topics discussed therein. I hope you found it informative! 20/
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APPENDIX: common points of confusion > Quantum mining is not a threat. > SHA-256 is already secure against QCs for all intents and purposes. > QCs will not destroy the internet, cause nukes to be launched, etc. > QCs are not going to destroy BTC in the next year or two.
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