Ethereum Developers Accelerate Work On Quantum Defenses
Research group Ethlabs says it is moving up its timeline to improve defense against hacks by powerful quantum computers to 2027 from a previous target of 2028.
There are worries that quantum computers will be able to break the cryptography and private keys that protect Ethereum and other crypto in digital wallets.
Ethereum wallets use private digital signatures known as "keys" to prove that their owners approved various transactions.
A powerful quantum computer could, in theory, derive the secret key and drain the account. There are similar worries about rapidly advancing artificial intelligence (A.I.) technologies.
The Ethereum Foundation has set a December 2029 target to replace the cryptography behind wallets, apps, and validator nodes. Some analysts say that timeline is insufficient.
Ethlabs says the Ethereum Foundation and developers should aim for 2027 to fortify ETH against current and future threats.
The researchers flagged rising risks from A.I.-driven technologies and the chance of an A.I.-led mathematical breakthrough could weaken current cryptography.
Alarms about the safety of digital wallets and leading crypto such as Ethereum and Bitcoin (CRYPTO: $BTC) have been sounded after a $6.3 billion U.S. theft from crypto exchange Binance.
The Binance hack is the worst ever for the crypto sector and has shaken confidence in current security features.
ETH is trading just below $2,000 U.S. on Nov. 12.
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