Bitcoin can head for the most sweeping cryptographic overhaul if a new proposal is getting traction.
A draft proposal of improving bitcoin (BIP) with the title The protocol that is resistant to the rest of the fight (Qramp) was introduced by developer Agustin Cruz. It described a plan to implement a full BTC transfer network from legacy legacy to those secured by post-quantum cryptography.
The amount of computing involves the transition from a process that relies on binary code, and zero, and exponentially increasing the power of computing by using quantities (quubits) that exist in many states at the same time. Such a power jump is expected to threaten the modern computing computing developed by classic machines.
The proposal suggests that after a predetermined height of the block, the nodes that operate -updated software will reject any transaction trying to spend coins from an address using ECDSA cryptographyThat can be theoretical to make it vulnerable to volume attacks.
A difficult fork debate
Bitcoin is currently relying on algorithms, including SHA-256 for mining and the elliptic curve digital signature algorithm (ECDSA) for signatures. Each Cruz, legacy addresses that have not yet transacted are protected by additional layers, while those exposed to their public keys – it is not necessary to conduct transactions – perhaps vulnerable to “if the computers are strong enough.”
Moving will require a Hard forkwhich is likely to be a tall question from the community. A difficult fork refers to a change in a blockchain that provides an older version that is incompatible.
“I admire the effort but it will still leave everything without switching coins, along with Satoshi’s coins,” A Reddit user said about the new proposal.
“Bitcoin can implement a security amount of post for all coins but it will need a difficult fork, which is due to the history of Bitcoin and the mantra repeated by Maxis to create a new coin and will never be Bitcoin.”
Read more: The Blocksize Wars Revisited: How the Bitcoin Civil War still resonates
Preventive proposal
The suggested solution sets a transfer deadline to lock those funds unless they are moved to a safer purse. This proposal is not a response to any imminent success in the quantity of computing. Instead, this is a prevention proposal, however come a little bit a month after Microsoft has been released Majorana 1One volume processing unit designed to measure to one million quubits per chip.
During a transfer window, users will be able to move funds freely. The BIP calls for purse developers, locked explorers and “other infrastructure” to generate tools and warnings to help users comply.
After the deadline, non-upgraded nodes can get rid of the network if they continue to accept legacy transactions.
This is not the first time a mechanism has suggested to defend Bitcoin from the threats of computing volume. Most recently -only, BTQ, a start -up to produce blockchain technology that can withstand attacks from computers volume, suggests an alternative to proof of the work algorithm (POW) involving volume technology.
In its research paper, BTQ suggested a technique called Coarse-Grained Boson Sampling (CGB). This process uses light particles (boson) to generate unique pattern-campaigns that reflect the current state of blockchain instead of hash-based mathematical puzzle puzzles.
However, this proposal will also require a tough fork involving miners and nodes replacing their existing ASIC -based hardware with infrastructure ready.
Read more: Quantum Startup BTQ suggests more energy good alternative to crypto proof work
