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Re: Bitcoin Is Not Quantum-Safe, And How We Can Fix It When Needed | Bitcoin Magazine

From: Dave Longley <dlongley@digitalbazaar.com>
Date: Wed, 18 May 2016 10:58:23 -0400
To: Timothy Holborn <timothy.holborn@gmail.com>, W3C Credentials Community Group <public-credentials@w3.org>
Message-ID: <573C830F.8000501@digitalbazaar.com>
On 05/17/2016 10:18 AM, Timothy Holborn wrote:
> It's an old article[1], wondering if their is any technical update
> since?
> [1]
> https://bitcoinmagazine.com/articles/bitcoin-is-not-quantum-safe-and-how-we-can-fix-1375242150

This is exactly why using public key cryptography that relies upon the
assumed difficulty of particular math problems to encrypt data on a
public blockchain is a bad idea.

This means that using today's common asymmetric encryption methods of
RSA/ECC to encrypt certain types of data on a public blockchain should
not be considered secure. That encrypted data is available to everyone
... and it won't stay encrypted for all that long. This is especially a
problem for identity-related information, which is often sensitive and
has a long shelf life.

Dave Longley
Digital Bazaar, Inc.
Received on Wednesday, 18 May 2016 14:58:47 UTC

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