- Vitalik Buterin, the co-founder of Ethereum, reassures that the network is actively prepared to counter a quantum computing threat.
- In the event of a quantum emergency, Buterin proposes a simple recovery hard fork, minimizing fund loss for users.
- Ethereum Improvement Proposal (EIP-7560) introduces quantum-resist measures. Utilising Winternitz signatures and STARKs to safeguard accounts from quantum attacks.
Ethereum co-founder Vitalik Buterin reassures that Ethereum stands “well-positioned” to counter a potential quantum computing attack on its network. Buterin asserts that developers could promptly create the necessary technology to make Ethereum quantum-resistant. It is offering a solution in the event of a quantum emergency.
“I argue that actually, we are already well-positioned to make a pretty simple recovery fork to deal with such a situation.”
Vitalik Buterin
In a post to Ethereum Research on March 9, Buterin contemplated a hypothetical scenario where quantum computers become available. In fact, the bad actors exploit them to steal users’ funds.
The Hard Fork Process and Quantum-Resistant EIP
If faced with a quantum emergency, Ethereum would undergo a hard fork, requiring users to download new wallet software.
However, Buterin assures that this process would result in minimal fund loss for users. The hard fork would roll back the Ethereum network to the point of large-scale theft, disabling traditional transactions. The proposed quantum-resist Ethereum Improvement Proposal (EIP), labeled EIP-7560, introduces a new transaction type.
This transaction type incorporates Winternitz signatures and “STARKs” zero-knowledge proof technologies. However, the goal is to switch existing wallets to new validation code, ensuring quantum resistance.
Quantum-Resist EIP and Account Abstraction
The quantum-resist EIP’s validation code utilizes ERC-4337 account abstraction, the technology underlying smart contract wallets. This safeguarding measure prevents the exposure of private keys while signing transactions in the post-quantum world, securing accounts from quantum attacks.
Emphasizing, Buterin highlights that users who haven’t approved a transaction from their ETH wallet are already safe from potential quantum-related exploits since only the wallet address has been publicly disclosed.
Also he noted that the infrastructure for implementing such a hard fork could begin development “in principle” as early as tomorrow.
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