A Way of Making Bitcoin Quantum-Computer proof?
qBitcoin: A new quantum cryptography-based Bitcoin standard has been proposed that could harden the popular cryptocurrency against the advent of full-fledged quantum computers. Bitcoin as it now exists involves traditional public key cryptography and thus could conceivably be hacked by a future quantum computer strong enough to break it. However, quantum cryptography, which is based not on difficult math problems but the fundamental laws of physics, is expected to be strong enough to withstand even quantum computer-powered attacks.
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Research paper entitled “Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics” [1].
Quantum Bitcoin transactions are local, immediate and only require the receiver to have read-only access to a reasonably recent copy of the blockchain. There are no transaction fees. It would be scalable to any transaction volume.
The paper presents a classical public-key digital signature scheme with the private key only used to mint new currency. It would be worth investigating the use of high-security post-quantum cryptography [2] as an alternative scheme.
References
[1] Jogenfors J. Quantum Bitcoin: An Anonymous and Distributed Currency Secured by the No-Cloning Theorem of Quantum Mechanics. (2016). https://arxiv.org/abs/1604.01383v1
[2] Post-quantum cryptography for long-term security PQCRYPTO ICT-645622, http://pqcrypto.eu.org/
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