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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 11:49:48 -0400
To: David Booth <david@dbooth.org>, Timothy Holborn <timothy.holborn@gmail.com>, W3C Credentials Community Group <public-credentials@w3.org>
Message-ID: <573C8F1C.8040501@digitalbazaar.com>
On 05/18/2016 11:14 AM, David Booth wrote:
> On 05/18/2016 10:58 AM, Dave Longley wrote:
>> 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.
> What alternatives would you suggest?

To follow on to my suggestion -- you can certainly put things like a
proof of existence on a public blockchain. Just don't put the
encrypted, highly sensitive, long-lived data itself there.

Dave Longley
Digital Bazaar, Inc.
Received on Wednesday, 18 May 2016 15:50:11 UTC

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