In the beginning of 2024, Vitalik Buterin, Ethereum’s co-founder, presented a detailed plan to shield the blockchain against quantum threats. Buterin has outlined some emergency measures that could be used if Ethereum was hacked by a quantum computer.
Even though machines that could breach cryptographic defences seem to be years away, Ethereum’s co-founder stated that they are already prepared to deal with such occurrences.
In other words, quantum computers are probably not going to emerge on the market for several years at least, industry experts pointed out that such technology could present a threat to blockchain’s security.
Vitalik Buterin proposed a plan involving a simple recovery fork that would be able to save users’ funds in the event of a quantum emergency.
In 2024, Ethereum ETFs were approved. To find out more about this topic, check out this article: 'Ethereum ETFs are here: Insights into the SEC's approval'.
Even though it is still in development, it is considered that quantum technology would be able to resolve complex problems that cannot be solved by supercomputers at all or just not fast enough. Quantum computing refers to a new field of computer science that utilises certain qualities of quantum mechanics.
By implementing principles of quantum physics, quantum computers could process massive and complicated problems faster than modern computers. For example, something that would take a contemporary computer many years to complete could be done by a quantum computer in a matter of minutes.
Let’s tone this down and get back to basics- when a classical computer gets an instruction, it does that through binary codes and bits. A binary code refers to text, computer processor instructions, or any other data using a two-symbol system, using 0s and 1s from the binary number system. The binary code assigns a pattern of binary digits, also known as bits, to each character or instruction.
Here comes the main difference- a quantum computer functions primarily using four key principles of quantum physics.
Unsupported content, you can view it in the full version of the site
VisitTo understand quantum computing, it is essential to be aware of four key principles of quantum mechanics.
The first principle is called superposition. It refers to a state in which a quantum particle or system can represent a combination of multiple possibilities instead of just one. While contemporary computers rely on binary bits to process data, quantum computers can encode more data by using quantum bits or qubits in superposition.
The second one is called entanglement, and it presents a process in which multiple quantum particles become entangled more than regular probability enables.
Then we have decoherence which is a process in which multiple quantum particles and systems can collapse, decay, or change by converting into single states measurable by physics.
Finally, there is the interference principle which refers to the phenomenon in which entangled quantum states can interact.
If we compare quantum computers with conventional computers, it is evident that quantum computer processors encompass much higher processing power. A quantum computer as a novel quantum machine can solve problems in the quantum world and undermine traditional cryptographic systems despite their ability to resist brute-force attacks.
At the moment, existing limitations prevent real-world applications of quantum experimental technology. However, they have already been applied to problems that would take even the most advanced binary supercomputers many years to solve.
In terms of Ethereum, quantum computers could be used to reverse the elliptic curve algorithm Ethereum utilises to convert private keys into public keys. Some community members have stated that if quantum computers capable of hacking Ethereum wallets are already in malicious hands, it might be too late to differentiate between legitimate owners and perpetrators.
A quantum attack refers to the risk that quantum computers could be used to attack traditional cryptographic structures. It has been laid down that quantum computers could be able to resolve encryption equations faster than classical computers, such as solving the discrete logarithm problem which is the foundation for some commonly used encryption algorithms, including the above-mentioned elliptic curve cryptography.
In a theoretical sense, a quantum computer could break such encryption schemes and render secure communication, making it susceptible to decryption and interception.
Thereby, a quantum threat refers to a specific risk associated with a perpetrator gaining access to data encrypted via traditional methods as a result of a quantum attack.
Vitalik Buterin proposed a hard fork solution that will involve several steps to deal with an emerging quantum attack. A hard fork represents a change to the blockchain protocol that renders previously invalid transactions or blocks valid, and the other way around. It results in a blockchain divergence, creating two separate versions of the blockchain.
Hard forks differ from soft ones, presenting a backward-compatible change to the blockchain protocol. A hard fork includes a significant change that is not backward-compatible- in other words, nodes running older versions of the software will no longer be able to validate new blocks and transactions.
To learn more about crypto forks, why not read this article: 'A fork in the road'.
So, in case of a quantum attack, Vitalik Buterin proposes that all blocks after detecting these attacks shall be reverted to mitigate the damage caused by compromised security. To deal with further uncertainties, traditional externally owned account transactions will be disabled by introducing a new transaction type for smart contract wallets.
It has been also said that a hard fork solution shall introduce a new transaction type enabling users to submit STARK proofs which demonstrate that users possess the necessary addresses to make a transaction.
In other words, a STARK proof allows users to demonstrate they know something, for example as a secret key, without revealing what it is. STARK proofs are created to be highly effective.
The next step is replacing the user’s account code with a novel validation code resistant to quantum attacks. The main purpose of all these steps is to improve the resilience of the Ethereum network.
If you are new to the blockchain space, keep in mind that education is the key. Take a look at available courses at our Learn Crypto Academy.