Backwards-compatible quantum fix found, but not for Bitcoin and Ethereum
Main Idea
Sui Research has developed a quantum-safe wallet upgrade method for EdDSA-based blockchains, but it does not apply to Bitcoin or Ethereum.
Key Points
1. The new cryptographic framework allows for quantum-safe wallet upgrades without requiring hard forks, address changes, or re-signing.
2. This method is applicable to blockchains like Sui, Solana, Near, and Cosmos, but not to Bitcoin or Ethereum.
3. Quantum computing poses a potential threat to blockchain security, with risks including the draining of wallets if public keys are exposed.
4. The approach fortifies EdDSA-based chains against quantum attacks by using zero-knowledge proofs to authorize secure transitions without revealing private keys.
5. Dormant accounts are covered under this method, avoiding the need for new account IDs or re-signing old transactions.
Description
Sui Research’s new quantum-safe wallet upgrade method offers a hard fork-free solution for EdDSA-based blockchains, but does not apply to Bitcoin or Ethereum.
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