StarkWare mines first Bitcoin designed to withstand quantum attacks

StarkWare mines first Bitcoin designed to withstand quantum attacks

The company said the breakthrough addresses a potential weakness that could emerge as quantum computing advances.

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By Editorial Team
Edited by Vivian Nguyen

StarkWare has mined the first quantum-safe Bitcoin, demonstrating a working transaction based on its Quantum-Safe Bitcoin (QSB) method, Starknet said Wednesday.

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The company sent 3.1 BTC using a method developed by Chief Product Officer Avihu Levy, creating a spend that cannot be forged by a quantum computer under Bitcoin’s current rules.

The demonstration marks the transition of QSB from a whitepaper concept to a working implementation. The method is intended to prepare Bitcoin custodians for the potential emergence of sufficiently powerful quantum computers capable of breaking the cryptographic protections used by the network.

According to StarkWare, the primary risk is not necessarily the theft of large Bitcoin holdings, but paralysis, as a cryptographic break could leave vulnerable coins stranded and unable to be spent.

QSB is designed to give custodians a quantum-safe spending path that can be provisioned under Bitcoin’s existing rules, without requiring a soft fork or waiting for a network upgrade.

STRK climbed about 4.5% to $0.027 after the announcement before retreating from the high.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
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StarkWare mines first Bitcoin designed to withstand quantum attacks
StarkWare mines first Bitcoin designed to withstand quantum attacks

The company said the breakthrough addresses a potential weakness that could emerge as quantum computing advances.

By Editorial Team
Edited by Vivian Nguyen

Share

Add us on Google

StarkWare has mined the first quantum-safe Bitcoin, demonstrating a working transaction based on its Quantum-Safe Bitcoin (QSB) method, Starknet said Wednesday.

Advertisement

The company sent 3.1 BTC using a method developed by Chief Product Officer Avihu Levy, creating a spend that cannot be forged by a quantum computer under Bitcoin’s current rules.

The demonstration marks the transition of QSB from a whitepaper concept to a working implementation. The method is intended to prepare Bitcoin custodians for the potential emergence of sufficiently powerful quantum computers capable of breaking the cryptographic protections used by the network.

According to StarkWare, the primary risk is not necessarily the theft of large Bitcoin holdings, but paralysis, as a cryptographic break could leave vulnerable coins stranded and unable to be spent.

QSB is designed to give custodians a quantum-safe spending path that can be provisioned under Bitcoin’s existing rules, without requiring a soft fork or waiting for a network upgrade.

STRK climbed about 4.5% to $0.027 after the announcement before retreating from the high.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.