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Steal Bitcoin, Lose Your Own BTC? Developer Floats Three Defenses Against Quantum Attacks

Could Bitcoin trap quantum hackers? Cory Fields proposes three experimental mechanisms that could make stealing vulnerable BTC financially costly.

Brief

By Dextape Desk ·

Cory Fields, a developer affiliated with MIT's Digital Currency Initiative, has floated three ways to deter quantum thieves. He shared them on a developers' mailing list as exploratory concepts, saying a soft fork could make them possible. Quantum Landmines would let holders hide a cryptographic proof in a small quantum-safe output before quantum machines can break current cryptography. If a vulnerable output were later stolen, the thief would have to lock matching quantum-safe bitcoin as collateral for a set period such as 30 days, and the owner could claim it by revealing that proof. The Staked Auction lets holders stake quantum-safe coins in advance to bid on exposed holdings. Fields said collateral ratios, auction rules and recovered-fund handling remain unresolved.

Why it matters: It shows Bitcoin developers are weighing ways to make quantum theft of exposed coins costly, a design question the article says is still open.

Mentioned: Bitcoin

Summary by Dextape, based on reporting by CryptoPotato. Machine-written from CryptoPotato’s report and checked against it · How Dextape writes

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