INSUBCONTINENT EXCLUSIVE:
Opinion by: David Carvalho, founder, CEO and chief scientist of Naoris ProtocolSatoshi Nakamoto changed how we define money
In response to the 2008 collapse of the financial institutions in which millions put their trust, Satoshi created a decentralized monetary
system built on elliptic curve cryptography.This combination of cold math and decentralization was a powerful one, attracting not only
All of that is about to change very soon, however, with the advent of quantum computing
This is the biggest single threat to Bitcoin since its inception from the ashes of the global financial crisis.Once firmly in the realm of
Institute of Standards and Technology and the National Security Agency are aiming to fully transition to quantum-secure standards by 2030
Yet the Bitcoin community appears confined to theoretical solutions, like BIP-360 (Pay-to-Quantum-Resistant-Hash) or commit-delay-reveal
All it would take would be one compromised wallet or botched transaction to erode 16 years of painstakingly built trust.The rise of
supercomputer from decades to years
McKinsey estimates there will be 5,000 by 2030
At least 30% of Bitcoin, or around 6.2 million coins, are currently sitting in pay-to-public-key (P2PK) or reused P2PK-hash addresses, which
It would prove that the unbreakable system can be broken
finally ready to break traditional cryptography
When this day comes, Bitcoin transactions validated and secured today, or even 10 years ago, could still be vulnerable because blockchain is
attacks could happen simultaneously across the globe when Q-Day comes
When this happens, Bitcoin better be ready.A post-quantum futureThe problem with upgrading an entire blockchain from legacy to post-quantum
cryptography is that it would require a hard fork, which has become almost a taboo subject in crypto communities
This huge step could break the UX, fragment liquidity, risk splitting the network and potentially alienate diehard OGs.There are
alternatives: hybrid solutions that focus on securing transactions first and foremost without touching the base layer, layered security
Especially considering how conservative and slow-moving Bitcoin has been historically
Unfortunately, there is no longer any time to waste
of Naoris Protocol.This article is for general information purposes and is not intended to be and should not be taken as legal or investment
