Blockstream Researcher Talks Quantum-Security for Monero and Bitcoin
(BitCoinExchangeGuide) The crypto verse is increasingly becoming vocal on the prospects of quantum computers attacking crypto platforms in the coming years.
The concern is that the computers might be so powerful that they may eventually decode the algorithms in use by most platforms.
However, there is disagreement. Jimmy Song, a renowned Bitcoin programmer, does not think that this will be the case. But not everyone in the crypto community holds this point of view. According to Andrew Poelstra, he believes that quantum computing may, in fact, pose a threat to digital assets such as Monero.
When it comes to the issue of the King coin, the one thing to focus on would have to be the transition plan. A plan will need to be in place, in case a quantum computer is able to bypass the network. This would be an easy fete for Bitcoin, but it would pose a challenge for Monero—the privacy coin. The challenge would be in the complexity of the replacement process. Replacing the digital signature would require that the Ring CT be replaced. This is an important part of the network.