Quantum computing would allow to know the private key of public, according to Reishman. Banks handle «resistant» security to quantum, such as simple white lists. According to Alexander Leishman, CEO of the company with Bitcoin financial services called River, it is not true that quantum computing would break all computer systems, including the world banking system. Leishman says that although this debate is fair, it is important to understand that not all systems are equally exposed and meet the same conditions. Leishman explains that Bitcoin is a unique system because Access to a private key is equivalent to access to money. Quantum computing would allow access to these private keys, through the resolution of the «discrete algorithm problem», a mechanism of cryptography of digital signs of elliptical curve (ECDSA). In a nutshell, this implies that «there is no protection layer for any direction with a revealed public key,» according to Leishman, who also comments that this is, «from afar, the attack with the greatest roi+ (return of positive investment) that can be done if you have access to quantum report. ” Leishman then comments that the banking system could not work more differently from Bitcoin. Although they do not have the quality of decentralization, a very desirable characteristic in Bitcoin, they do have several additional security layers around their computer systems.
Although quantum computing could break HTTPS, an attacker would still need to intercept traffic and kidnapping DNS to begin. In many ways, quantum computing would take us back to the Internet pre-https, which did not collapse completely. The reality is that the connection between your computer and your bank is reasonably safe, even if it is not encrypted. Alexander Leishman, CEO of River
Leishman points out that banks would be more armored in a quantum scenario because, one, They use security layers beyond public key cryptographyand two, these layers can be combined and add some enclosures of others. For example, they use white IP lists and symmetric password authentication. The cryptography of symmetrical keys would be less vulnerable than public keys. However, more recent studies would prove that quantum computing Yes it presents one considerable threat For symmetric cryptographyaccording to some researchers at the University of Tsinghua.
The KYC controls, but ensures
Subsequently, Leishman emphasizes that the compliance standards would guarantee an extra security layer by registering the identity of all users of the bank network, something that Bitcoin, which is pseudopublic and prioritizes privacy, does not do:
Even if an attacker managed to violate a bank, he would need to move the money somewhere. Everything is very controlled with procedures to know your client (KYC) and manual controls around large fund movements. Good luck by moving millions or billions without a human caught. Alexander Leishman, CEO of River
The CEO of River closes the discussion commenting that “a quantum computer will not give you magical access to all the money in Goldman Sachs, but it could give you access to many billions of dollars in Bitcoin. Although Leishman does not believe that this threat is viable in the short term, Consider discussing the topic honest.
Does the quantum threat accelerate thanks to Microsoft?
Microsoft's new quantum chip, Majorana 1, has been a significant advance in the career for the computing of this class, according to some experts. One of them is Fabrizio Micucci, who commented exclusively to a means of communication that, with the announcement of Microsoft of the Majorana Quantum 1, “the schedule for large -scale quantum computing has been shortened a lot, which could mean problems for cryptocurrency safety ”.
Majorana 1 produces more stable qubits than traditional ones. Source: Microsoft the Majorana 1 chip is driven by the first “topological core architecture” of the world, they comment from Microsoft. The technology company expects this chip, which uses a type of material called topoconductor, «make quantum computers capable of solving significant problems at an industrial scale in years, not in decades.» The Topological Core of Majorana would allow the creation of more stable and less error -prone to errors (information units called topological qubits) than the traditional ones. As Cryptooticias reported, Satoshi Nakamoto, the creator of Bitcoin, I had already foreseen the possibility that quantum computing threatens the protocol most important digital currency in the world. In the event that the SHA-256 algorithm was compromised, the community could agree on the construction of a new hash function or an improved version that is resistant to quantum. In some case remote and unlikely, Bitcoin could also move to a cryptography of symmetrical keys, Although this is not compatible with its philosophy that exalts and allows pure custody, which is only possible through the exclusive, individual and asymmetric possession of the keys.