Bitcoin Braces for Quantum Threats as Solana Tackles Inflation
The Bitcoin network is upgrading its defenses against potential quantum attacks. Researchers at StarkWare and Blockstream have been working on post-quantum signatures to protect transactions from being tampered with or stolen.
The first solution, Levy's Quantum Safe Bitcoin (QSB) scheme, uses a combination of hash-based one-time signatures and computational searches that bind an authorization to a specific transaction. However, each transaction takes hours and costs $150 to $200, making it more of a last resort than a practical measure.
A new proposal by Blockstream researchers suggests using the SHRINCS signature scheme, which has been slimmed down by about 13.23 times compared to its original size. While it's still larger than Bitcoin's existing signatures, the trade-offs may be worth it for increased security.