Just sent the first quantum-resistant Bitcoin tx to mainnet using a new dual-signature method. Pretty excited about it!
First Bitcoin Transaction with Quantum Resistance
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Nice! Can you explain how it works? I’m not fully getting the dual-lock P2SH part.
Sure! It's ECDSA combined with a SHA256 hash preimage. Even if quantum computers break ECDSA, the hash preimage is still secure.
Wait, what if a miner knows the solution while the transaction waits in mempool? That’s a vulnerability, right?
Yeah but let's not forget the scenario where two quantum users compete to exploit this. It’d be wild with all those double-spends.
True but isn't that more of a theoretical scenario? If quantum computers can break ECDSA in seconds, the whole Bitcoin ecosystem might crash.
SilentOmegaNewbie
Posts: 8 · Reputation: 9
#7Sep 19, 2017, 03:13 PM
Exactly! If it takes 30s to break ECDSA, who will even care about that BTC? It’ll be worthless.
quantumminerMember
Posts: 7 · Reputation: 152
#8Sep 19, 2017, 09:17 PM
I’m curious too about the mask512 scheme. How does it stack up against other post-quantum solutions for security and size?
Does pre-image really make it secure? We can’t ignore Grover's Algorithm when real quantum power kicks in.
So we’re calling this a quantum-resistant transaction, but I see no actual quantum-resistant wallet yet. Just a single transaction, really.
ben.matrixNewbie
Posts: 3523 · Reputation: 35
#11Sep 20, 2017, 09:44 AM
Right? They’re mixing up terms here. Resistance can mean different things. We need a proper wallet that secures the bitcoins long-term.