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Committing to Quantum Resistance, Better: A Speed-and-Risk-Configurable Defence for Bitcoin Against a Fast Quantum Computing Attack

In: Mathematical Research for Blockchain Economy

Author

Listed:
  • Dragos I. Ilie

    (Imperial College London)

  • William J. Knottenbelt

    (Imperial College London)

  • Iain D. Stewart

    (Imperial College London)

Abstract

In light of the emerging threat of powerful quantum computers appearing in the near future, we investigate the potential attacks on Bitcoin available to a quantum-capable adversary. In particular, we illustrate how Shor’s quantum algorithm can be used to forge ECDSA based signatures, allowing attackers to hijack transactions. We then propose a simple commit–delay–reveal protocol, which allows users to securely move their funds from non-quantum-resistant outputs to those adhering to a quantum-resistant digital signature scheme. In a previous paper (Stewart et al. R. Soc. Open Sci. 5(6), 180410 (2018)) [1] we presented a similar scheme with a long fixed delay. Here we improve on our previous work, by allowing each user to choose their preferred delay–long for a low risk of attack, or short if a higher risk is acceptable to that user. As before, our scheme requires modifications to the Bitcoin protocol, but once again these can be implemented as a soft fork.

Suggested Citation

  • Dragos I. Ilie & William J. Knottenbelt & Iain D. Stewart, 2020. "Committing to Quantum Resistance, Better: A Speed-and-Risk-Configurable Defence for Bitcoin Against a Fast Quantum Computing Attack," Springer Proceedings in Business and Economics, in: Panos Pardalos & Ilias Kotsireas & Yike Guo & William Knottenbelt (ed.), Mathematical Research for Blockchain Economy, pages 117-132, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-37110-4_9
    DOI: 10.1007/978-3-030-37110-4_9
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