Fidelity Warns Bitcoin Private Keys Face Quantum Computing Risk

TLDR Fidelity Digital Assets published research on Sept. 1 examining Bitcoin’s exposure to future quantum computers. Quantum machines could theoretically derive private keys from public keys using Shor’s algorithm. A proposed system called SHRINCS uses hash-based signatures instead of elliptic-curve cryptography. Larger quantum-resistant signatures would slow transaction throughput and raise costs. Fidelity and eight other [...]

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